A business loan to increase manufacturing capabilities

The deal we wanted to highlight this month is a reminder to always look at the details when it comes to business loans. At Rivers, we pride ourselves on making sure fees are clear and transparent, and this was a perfect example of why.

A broker came to us looking for a business loan for a client who manufactures leather goods including luggage and handbags. They were looking to borrow £75,000 to be repaid over 60 months, to increase their production capacity.

They had an offer from another lender, and on the face of it they offered cheaper repayments. However, their arrangement fee was three times higher than ours, making the overall cost much more expensive, so they chose to take the offer from Rivers.

It was the first funded deal we have done for this particular brokerage, and we are delighted to help. We look forward to working with them more going forward and helping their client businesses thrive.