Borrowers FAQs

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How much can I borrow?

The amount of money that Huddle Capital is willing to lend to borrowers will depend on how we assess your businesses ability to repay. We have a stringent assessment process in place to protect our investors.

Do you have any basic eligibility criteria?

Yes, before applying for a loan through Huddle Capital please check whether your business will be eligible and you are able to meet the following criteria:

    • You must have a UK bank or building society account to facilitate repayments
    • You must be registered via Companies House
    • Your business and Directors must meet minimum credit and fraud risk criteria which may include obtaining a minimum score from credit reference agencies
    • Your business must not have any outstanding CCJ
    • You must have registered through our online platform or do so before the loan goes live on the platform.

What information will you require from my business for an application?

We require the following information to be provided at the time of your loan application:

    • Your last three years accounts (minimum two years if you have only been in business for this length of time).
    • ID and residence verification for all directors and any shareholder over 10% holding in  your company.
    • The contact details of your bankers and a suitable contact within the bank; the name and contact details of your accountants and your lawyers.
    • We will require full details of the transaction, the asset and any lessees involved in  the transaction.
    • After you have submitted a loan request we will contact you to ask for any further information we require to assess your request.

 

How quickly can my business get a loan?

We aim to complete all loan requests as quickly as possible, but subject to the complexities of your loan request it can take up to month to complete your loan application and transfer your funds.

How do I receive my loan funds?

Once your business loan request has received the correct amount of individual bids from investors, it will be ‘Sent to Borrower’ and our administration team will mark it as ‘Pending Borrower Approval’.

Once approved by the Borrower the loan documents will be signed and any charges required to be registered will be completed. Once all of the conditions precedent in the documentation have been fulfilled, the funds will be transferred to the Borrower at the designated account.

Can I pay back my loan early?

Yes, you can pay your loan back early should you wish, however, there may be charges for early repayment. Contact us for an early loan repayment amount by emailing us at: info@huddlecapital.com

Can I cancel my loan request?

Until your loan request is approved by Huddle Capital you are permitted to cancel free of charge. Once the loan is available to investors if you wish to cancel it you may do so, but charges may apply.

Can my business have more than one loan from Huddle Capital?

Yes, you can apply for more than one loan however you would need to wait a minimum of INSERT months before applying for a second loan and your payment history must be in good order.

Can I borrow funds anonymously?

No, unfortunately we cannot offer an anonymous loan service for borrowers.

Because you are entering into agreements with individuals your full details must be available to them for their assessment otherwise your loan request is unlikely to be fulfilled.

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