Igor Pankratov’s Post

Close Brothers is delighted to assist a manufacturer of pressed juices with their growth plans. #Finance #Manufacturing #FoodandDrink

Nearing the end of a busy week, so it's good to take the time to shout out Igor Pankratov and the team at Monetic Capital for their work on two fantastic deals. LendingCrowd loans will support the continued expansion of these growing businesses ✅ #SMEloans #fintech #businessfinance

Thank you to Igor Pankratov from Monetic Capital Limited for the opportunity to assist their customer with releasing the equity held in a variety of manufacturing equipment. The Haydock team, including Broker Relationship Manager Stuart Urquhart, worked with Igor to structure a £900k CBILS refinance deal to raise funds for their customer’s working capital needs. #assetfinance #brokers #supportingsmes #manufacturing

PLEASE SHARE - UPDATED I'm seeing lots of incorrect messages on here about #CBILS. As an accredited lender let me clear up at least 2 common misconceptions: 1. The 'mutiple of wage bill/turnover' criteria is NOT absolute. Individual lenders may use these conditions but these are NOT an absolute scheme condition. Lenders can divert from these if there is a greater requirement by the borrower. 2. Personal Guarantees can no longer be requested under the scheme. Lenders also CANNOT request security over a principle private residence, or request to benefit from funds coming from a principle private residence. 3. There is no minimum amount a business can borrow, the maximum is £5m. Some lenders are only lending above £25,001 because this is the consumer credit act upper limit so any facilities offered will be outside those protections (where applicable). Independent lenders like Genesis Asset Finance Ltd are on the scheme and we're almost always quicker than banks to put facilities in place. There's far too much misinformation going around - check the British Business Bank website for FAQs, scheme criteria and accredited lenders.