ABL Fast Finance, a trading name of Advanced Business Lending Limited, operates in the UK providing alternative finance solutions to small and medium-sized enterprises (SMEs). They position themselves as a nimble and responsive lender, contrasting with the perceived bureaucracy and slower processing times of traditional banks. Their core offerings are tailored to meet the urgent funding needs of businesses, focusing on bridging loans and development finance.
Bridging Loans: These short-term loans are a cornerstone of ABL Fast Finance’s portfolio. They are designed to “bridge” the gap between an immediate financial need and the receipt of longer-term funding or the sale of an asset. Businesses might use bridging loans to acquire property, renovate existing premises, or secure a business opportunity quickly. ABL highlights the speed of their decision-making process and disbursement of funds as a key advantage, understanding that timing is crucial for many of their clients. They typically secure these loans against property, with interest rates reflective of the inherent risk and short-term nature of the product.
Development Finance: ABL Fast Finance also offers development finance, specifically geared towards property developers. This type of funding is used to support new build projects, conversions, or refurbishments. The loan is typically released in stages as the development progresses, with each stage being subject to valuation and approval. ABL’s expertise in the property sector allows them to assess the viability of development projects and provide flexible funding solutions that align with the project’s timeline and requirements. They understand the complexities of property development and aim to provide tailored finance packages.
Key Features and Benefits (as presented by ABL): ABL Fast Finance emphasizes several key benefits for its customers. These often include rapid decision-making, potentially within 24 hours, and a streamlined application process. They promote a personalized approach, with dedicated account managers working with clients to understand their specific circumstances and funding requirements. This contrasts with the often impersonal experience associated with larger financial institutions. Furthermore, ABL positions itself as being more flexible in its lending criteria than traditional banks, considering factors beyond standard credit scores and focusing on the underlying asset and the viability of the project. However, it’s important to note that this flexibility often comes at a higher cost.
Important Considerations: While ABL Fast Finance offers valuable solutions for businesses needing quick access to capital, it’s crucial for borrowers to carefully consider the associated costs. Bridging loans and development finance from alternative lenders typically carry higher interest rates and fees compared to conventional bank loans. Businesses should thoroughly assess their ability to repay the loan within the agreed timeframe, as failing to do so can lead to significant financial penalties and potential loss of assets used as security. A comprehensive understanding of the loan terms and conditions, including early repayment charges and default clauses, is paramount. Independent financial advice is highly recommended before committing to any borrowing agreement.