midlandslad
Member
- Location
- Midlands
Had a quote from hsbc and this business could borrow £1.3 million from 1 to 25 years. Annual interest repayment would be £1,375 per month.
We are thinking of upgrading infrastructure so it would be used for a variety of things such as buildings etc but we do not need to list what it’s used for against the loan. The loan would be secured against existing assets. Is that a good rate? As we’ve only made one enquiry so far.
This looks too good to be true. What is the rate they have quoted you in % terms?