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How E1 Finance makes your life easier

 

Direct applicants seeking commercial finance (not coming via broker)

For applicants; we save time and potential delays by understanding what the lenders/valuers/solicitors all need, and by working with the applicant to ensure all is provided and there are no last minute delays – e.g. waiting on an insurance certificate.

We help ensure any security requested by the lender is in line with the market and no more onerous than we would expect. For example, we might negotiate on how large a director’s personal guarantee should be.

We know which bank is lending, what their rates and terms are likely to be, and how they compare- we know if they prefer say Nursing Homes to Pubs or Shops. 

 

For Professional Introducers

 

On Master Broker cases

You provide a name and telephone number and we do the rest! (alternatively you can input some basic information on the applicant online via our semi-intelligent Dip system and we’ll do the rest from there).

We will keep you fully updated as the case progresses and advise you as soon as we have spoken to the applicant/ have a case we believe we can assist with/agreed terms the applicant and so on. As soon as the case looks like proceeding we will confirm to you in writing what fees we would expect to pay to you on completion. We will confirm to the applicant that you will be paid a fee for the lead.

 

Introducers will always be provided with a case reference number for any live case and a unique user name and password which enables them to go online at any time and check progress (or call the underwriter).


What do we do?

  • Discuss the case with the applicant/iintroducer by phone
  • Allocate a unique case reference/pass to experienced underwriter
  • Analyse any information you provided
  • Assess which lenders best fit the applicant’s needs from a wide panel of lenders
  • Match needs such as LTV/early repayment penalties/security issues/sector/experience/trading accounts/projections/lease length/covenants/valuation issues/credit issues/affordability etc
  • Send on information to lenders
  • Chase lenders
  • Review lenders terms and assess best options
  • Update e1 systems and send indicative terms/enagement letter to broker or applicant direct
  • Check broker/applicant received terms
  • Discuss terms as required as to best options/timescales
  • Send by email bespoke forms for each lender
  • Check application/statements/obtain and review credit file/check liabilities to application form/review trading information/projections/business plan/Identification/etc
  • Order Land Registry certificate
  • Check which valuers meet lenders criteria
  • Obtain three valuation quotes; check availability; pass to broker/applicant for approval
  • Instruct valuers
  • Chase for valuation
  • Send on pack to lender
  • Chase for Offer letter
  • Check offer letter
  • Send offer letter to broker/applicant
  • Send offer letter to solicitors outlining action required
  • Organise insurance cover/lenders interest noted as required
  • Co-ordinate all pre conditions prior to drawdown
  • Arrange drawdown
  • Advise broker/client

Commercial Finance is a rapidly growing market

Please also note Commercial finance is currently not regulated by the FSA. E1 is not regulated and therefore will not take on any cases that involve regulated properties. (Development/Bridging loans are not currently regulated.)

Commercial Finance made easy