VAT Loans 

For practices that meet the VAT registration threshold, on qualifying outputs, VAT will be chargeable at the standard rate on the services and goods you sell.  VAT funding is becoming increasingly popular amongst professional practices as a method of improving cash flow and enhancing cash reserves.

VAT loans are an ideal solution to smooth cash flow as they provide the funding to pay quarterly VAT liabilities and enable you to spread the cost over three months via repayments. VAT funding helps practices to meet HMRC deadlines without any late payment charges and free up working capital for more productive revenue generating initiatives.

Features & Benefits

• Funding available quickly, typically within one working day.
• Payment made directly to the HMRC on your behalf or into your business bank account.
• Unsecured agreement leaving personal or business assets free from charges.
• Outside of banking lines, leaving banking facilities free for future growth.
• Fixed rates and repayments making budgeting simple
• Short Term facilities that can be used once or renewed quarterly to cover ongoing VAT

Corporation or Personal Tax Loans

Tax bills often put an unwelcome strain on practice or personal cash flow. Our tailored tax funding solutions enable you to spread the cost over the period of the liability, freeing up existing cash resources or equally enabling payment when sufficient capital is not available.

Whilst traditional bank financing methods are hard to obtain to cover future tax liabilities and overdrafts typically used for day to day cash flow, Shire Professional Funding has access to numerous credit lines providing loans and alternative overdrafts we’re in an ideal position to help you spread your Corporation or Self-Assessment tax liability.

Features & Benefits

• Terms available from 6, 10, or 12 months
• Multiple business owner Schedule D liabilities can be included in one loan facility for Partnerships and LLPs.
• Funding made available typically within 48 hours and payable directly to you or the HMRC on your behalf.
• External to banking lines, leaving your capital or overdraft headroom free for growth and unforeseen opportunities or events.
• Fixed rate and repayments providing clarity on a monthly basis to ease budgeting.
• In many cases facilities can be settled at any time with little or no penalties, providing control over your lending.
• Ability to cover large liabilities through lending syndication via multiple credit lines.

Consolidation Loans

Bringing existing credit agreements together could improve your cash flow. If you’re currently servicing multiple credit agreements such as unsecured loans, bank or alternative overdrafts and even credit cards, you may be constraining your business cash flow and restricting practice growth. Consolidating multiple credit agreements into new facilities with revised terms, repayment structures and reduced direct debits could be beneficial to your immediate cash flow position.

Features & Benefits

• Ability to settle existing finance on your behalf
• Terms up to 5 years available
• Fixed rate and repayments making budgeting easy
• Fast turnaround, typically 2 working days
• Unsecured agreement leaving personal or business assets free from charges.
• Outside of banking lines leaving banking facilities free for future growth.

Disbursement & Case Acquisition Funding

Legal disbursements make up a major part of legal firm charges and can cause a significant strain on practice cash flow. Mounting costs paid out on behalf of a client, whether for goods or services provided to the client, or on the client’s behalf may restrict your growth. Financing Disbursements can help you to build on supplier relationships and provide the financial headroom to ensure you can negotiate the right settlement for the client and practice.

Features & Benefits

• From £5,000 to over £500,000
• Unsecured/Secured Loans and Alternative Overdrafts available
• Terms from 3 months to 5 years
• Funding typically available within 48 hours
• External to banking lines, leaving your capital or overdraft headroom free for growth and unforeseen opportunities or events.
• Fixed rate and repayments providing clarity on a monthly basis to ease budgeting
• In many cases facilities can be settled at any time with little or no penalties, providing control over your lending.

Professional Indemnity Insurance Finance

Professional indemnity insurance is a mandatory business insurance requirement for businesses that give advice or provide a professional service to clients. Our dedicated Professional Indemnity Insurance loan product enables you to spread the cost of your premiums, excess layer, insurance premium tax and any broker fees over the term of your policy.

Features & Benefits

• Terms available from 10, 12, 18 and 24 months
• Highly competitive interest, typically more attractive than the insurers offering
• All insurance costs, excess layers, broker fees and insurance tax can be covered
• Funding made available typically within 48 hours and payable directly to you or the insurer or broker on your behalf.
• External to banking lines, leaving your capital or overdraft headroom free for growth and unforeseen opportunities or events.
• Fixed rate and repayments providing clarity on a monthly basis to ease budgeting.
• Ability to cover large liabilities through lending syndication via multiple credit lines.
• Retrospective funding available to reimburse payments made from cash flow

Refurbishment Finance

Refurbishing practices or chambers carries numerous benefits, not least improving productivity, creating a positive and exciting workplace that reflects your brand and helps you to attract and retain clients. It’s an opportunity to reinforce the firms identity through internal and external changes that showcase trust, service and expertise.  Existing and new clients will form a new or first impressions of the firm as they approach and enter.

Fit-outs require specialist providers and equipment, whether your decorating and purchasing some new equipment or conducting a large fit-out including technology, furniture and the installation of partitioning, flooring, ceilings, heating, ventilation and air-conditioning; electrical and plumbing systems, we can help.

Features & Benefit

• Ability to provide Unsecured Loan, Hire Purchase and Finance Lease agreements
• Terms from 12 months to 7 years available
• An incredibly quick way of ensuring you have the funding you need to get up and running without delay.
• Simple, manageable and consistent budgeting by way of regular fixed rate finance installments.
• Financing removes large up-front payments therefore you retain cash within the practice, freeing up valuable working capital.
• Provides control of supplier and contractor payments, ensuring you remain on schedule.
• All-in-one finance solution incorporating all suppliers and costs from equipment, furniture or cosmetic and building works.
• Highly competitive financing, terms due to lenders taking security over the asset.
• Tax efficient; typically your practice can deduct the full cost of lease rentals or finance interest from taxable income.

Equipment leasing and finance

It’s essential to keep abreast of the latest technology developments as a service provider continuously seeking productivity and customer service improvements. New technology hardware, software, furniture or field based measuring innovations can provide significant benefits to your business and customers.

Our funding experts will help you to choose the right financial solution whether Hire Purchase, Finance Lease or Unsecured Loan and work with any number of chosen suppliers, building a bespoke finance plan that suits you, your practice and your budget.

Features & Benefits

• An incredibly quick way of ensuring you have the practice equipment you need up and running without delay.
• Simple, manageable and consistent budgeting by way of regular fixed rate installments.
• Low cost of entry to your new equipment, you may only need to pay one finance installment and an element or all of the VAT on day one.
• Highly competitive financing terms due to lenders taking security over the asset.
• Tax efficient as typically your practice can usually deduct the full cost of lease rentals from taxable income.
• Provides cash control by saving your banking facilities for day-to-day business expenses, expansions, or unexpected related expenses.

Aged Debt Funding

As a barrister, accessing funding can be challenging due to the unique nature of your income stream and many mainstream lenders find it challenging to appreciate your position and provide accessible funding quickly.  When high levels of Aged Debt mount up with delays in fee income or increases in case lead time it can sometimes cause financial stress.

These events typically mean that conventional loans and overdraft facilities are difficult to find or not an ideal solution for you. We understand Barristers and work closely with them to provide a finance solution that meets their individual circumstances.

Features & Benefits

• From £5,000 to over £500,000
• Unsecured/Secured Loans & Alternative Overdrafts
• Terms from 3 months to 5 years
• Funding typically available within 48 hours
• External to banking lines, leaving your capital or overdraft headroom free for growth and unforeseen opportunities or events.
• Fixed rate and repayments providing clarity on a monthly basis to ease budgeting
• In many cases facilities can be settled at any time with little or no penalties, providing control over your lending.

Growth through Acquisition or Equity

The professional service sector is constantly evolving and organic growth or building a practice from the bottom up is really challenging. Growing numbers of existing practice owners, corporations and associates are seeking growth through acquisition or equity purchase. Vendors, shareholders and equity partners are increasingly looking for comfort by way of proof of financial means, before initial discussions can take place, so it’s even more important today that practices and individuals are proactive when it comes to funding and seeking out new opportunities.

Taking the next step

Acquiring a business or equity is a significant decision and with lots more planning and negotiations along the way we understand that sometimes it can be stressful, but the reward will be worth it and we will work with you to remove the pressures around funding. Our experience, products and solutions are designed to assist in any situation whether an acquisition, equity buy in/out or even a property purchase. And with direct access to a vast portfolio of specialist funding lines and highly skilled consultants, who know your industry, we work hard to ensure your plans materialise.

Solutions

Unsecured Loan

An unsecured loan is a fast and flexible way to achieve funding in support of your plans. With lending terms from 3 months to 5 years and the ability for funding made available within a day, they are frequently used to support acquisitions and any ancillary costs, such as fees. Typically, the interest rates are not quite as favorable as secured loans but provide a fully unsecured funding route for practices and individuals, who see the benefit of being unsecured, right for them.

Secured Loans

When sizable funding is required to fund an acquisition, refurbishment or even the property purchase, a secured loan can provide the benefits of extended lending terms up to 25 years and lower interest rates.  However, they’re not just suitable for long term lending, they’re also ideal for those situations that don’t qualify for unsecured lending as security can be taken against fixed assets held personally or within in the business as collateral.

Commercial Mortgages

Mortgages can seem like an incredibly complex and confusing process for professionals whether an associate or existing practice owner it can seem overly complicated. At ShirePF we’re dedicated to helping our clients grow for the long term and following feedback from clients we’ve partnered with an award winning and UK leading property finance specialist that ensures our clients can access the best value and fitting mortgages available. Whether you’re a Professional looking to purchase, remortgage, a buy to let, or even if you’re a first time buyer we can help you secure.

Features & Benefits

• Low interest rates
• Fast in-principle decisions
• High income multiples
• High LTV %
• Guarantor Mortgages
• Fixed Rate & Interest Only Periods

The Financial Conduct Authority does not regulate some aspects of buy to let arrangements and Commercial Mortgages.