As a Borrower you should have a clear understanding of the business loan agreement you are being offered. It is vitally important to ensure that you do not enter into an arrangement which has onerous or unfair terms. Whilst borrowing money can assist with the development and growth of a business, it is always sensible to consider the worst case scenario if things did go wrong. Expert legal advice can help you understand the risks of borrowing money and make sure that those risks are minimised as much as possible.
It is vital as well that you are aware of the costs of borrowing and how any increases might affect your business during the lifetime of the business loan.
You should also need to consider the chance of you defaulting on the loan and associated risks attached to a default under the agreement. Have you considered what constitutes a default and what would trigger the bank calling in the business loan? Are you fully aware of the consequences that a default will have on your business’s future and your personal finances?
Our banking experience allows us to advise small and large businesses in both domestic and international markets and in respect of trade all over the world that is conducted on loan and finance agreements based on English law. From cash flow funding, start-up business loans, new equipment purchases, acquiring property, growth and overseas trade to refinancing, our commercial finance team can help.
Contact expert banking solicitors now
Our expert team of banking solicitors at Francis Wilks & Jones are here to help you with any questions you may have in relation to borrowing money. Our practical daily experience and legal expertise means that we can assist whatever the nature of your borrowing enquiry.
Contact one of our expert friendly banking lawyers now for your confidential consultation.