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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 the 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;

Your property may be repossessed if you do not keep up repayments on a mortgage or any debt secured on it.