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Leisure

LEISURE FINANCE

We can arrange short or long term finance for freehold businesses in the hotel, restaurant and bar sector. We are totally independent and have access to all the lenders.

POINTS TO CONSIDER WHEN COMPARING LEISURE FINANCE

  • Manual underwriting;
  • Experience essential;
  • Business Plan may be needed;
  • Minimum two years profitable trading;
  • Business Valuation will be carried out;
  • Repayment mortgages are the most common.

INFORMATION NEEDED FOR LENDER

  • Accounts;
  • Management figures to date if produced;
  • Business plan and/or projections if purchasing another business;
  • Turnover split between wet and dry;
  • 3-6 months business bank statements;
  • Asset & Liability Profile for directors;
  • Historic occupancy levels if applicable;
  • Income & Expenditure Profile for directors.

BUSINESS VALUATION

The valuer will require access to:

  • Last four VAT returns:
  • Copies of menu, wine list and bar prices;
  • Brewery/purchasing orders/information;
  • Stocktakers reports;
  • Premises License;
  • Insurance Details;
  • Fire and Environmental Health Visits (if applicable);
  • Staff Rota and rates of pay, total weekly/monthly wage costs;

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Searchlight Finance Limited is registered in England and Wales No.07929050 Searchlight Finance Limited is authorised and regulated by the Financial Conduct Authority and is entered on the Financial Services Register (http://www.fca.org.uk/register) under reference 743220. The FCA do not regulate Business Buy to Let Mortgages or most Commercial Mortgages and Bridging Finance. ICO Number Z3109319. Your property may be repossessed if you do not keep up repayments on a mortgage or any debt secured on it.

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