We were able to source competitively-priced bank loans like our recently executed secured termloan facility with the Import-Export Bank of Korea and ABN AMRO.
In the later stages of a growing business, the now-incorporated business might need a bankloan for various needs, including operating capital and long-term growth.
John Lamidey, chief executive of the Consumer Financial Association which represents the eight largest payday loan lenders, said most long-term debt was on credit cards and bank overdrafts and he advised anyone with long-term debt to go to Citizens Advice (CAB).
The interest rate on the loan was less then what the grandchild would have paid at a bank, and the loan came with an "unwritten" understanding that the repayment term could be extended if needed.