Recent content by Neil Lukins

  1. Neil Lukins

    New Router / Modem

    Hi Nico, which Draytek router would you recommend? I've looked at the post again and can only see the budget router recommendation. If we wasn't on a budget which one would you go for? We already use 3x decos for range extending so would we need the ubiquity?
  2. Neil Lukins

    New Router / Modem

    Thanks Nico - just the advice I was looking for. I've been researching routers online and amazon but keep getting various results.
  3. Neil Lukins

    New Router / Modem

    We use Talk Talk on a Business Fibre FTTC. The router they supply isn't great so we are looking to swap this out. Been told that a new router will require a modem so I'm assuming we can use the existing equipment if needed. Any advice on good routers or router/modem combos which would work...
  4. Neil Lukins

    Alternate business finance option to pay manufacturer?

    How much finance do you need? Depending on your turnover a BB loan would be a good option if the amount you require is <25% of your turnover. Get the loan, pay your supplier, get paid in 7 days and then repeat when needed. You'll have 12 months without having to pay interest on the loan...
  5. Neil Lukins

    Bounce back loans and CCJ

    The BB loans should be provided to almost anyone that applies and in the words of a bank manager I spoke to today "if it has a pulse we will give a BB loan". What sector are you in? The only reason I ask is that I have a Client in the construction sector and they have been declined CBILs with...
  6. Neil Lukins

    Can you secure lending against invoices?

    Thanks Gordon for your response. The part about the 120 days was additional general advice around Invoice Finance and had nothing to do with the posters original request. I was trying to make a point about businesses treading carefully about using Invoice Finance in the current climate if...
  7. Neil Lukins

    Can you secure lending against invoices?

    Mark - I only contribute mainly on Finance related topics as 1) This is my occupation and has been for over 20 yrs 2) It adds value and another opinion for consideration 3) I dont contribute as regular as some as I have limited time and cant add value to the many topics so decline to comment...
  8. Neil Lukins

    Can you secure lending against invoices?

    In theory YES you can get funding against these invoices. Every lender will review the detail on a case by case basis. Lenders are naturally now more cautious and so are leaning more towards businesses who haven't been affected by covid19. With over 15 years in the Invoice Finance sector I've...
  9. Neil Lukins

    Has anyone been succesful with CBIL loan?

    HSBC are providing CBILS at around 3.49% and will be far cheaper than Funding Circle. FC advertise cheap rates but realistically I've never seen them come close to their advertised rates. Stick with the HSBC if you can wait it out. As an ex HSBC member of staff I'd echo what Mark has said and...
  10. Neil Lukins

    Invoice Factoring - straight and easy?

    Hi Andy, With over 18 years Invoice Finance experience I've come across many Businesses similar to yourselves. As Ian mentions above all lenders will base their fees on many variables - turnover, credit worthiness of both you and your customer, workload (price will differ if you have 10 or...
  11. Neil Lukins

    Raising low-interest business finance

    With Business loans if you can offer something as security over the lending then your rates will be cheaper. Lenders can take property, machinery, equipment or invoices as the main security. There are one or two lenders out there who will lend without taking a PG. As their risk is higher then...
  12. Neil Lukins

    How much it costs to have a dormant LTD?

    The £50 a month could include other items such as Self Assessment, use of registered address etc. It does sound excessive to only submit dormant accounts and confirmation statements once a year. Might be worth speaking to another accountant. There are plenty around and most dont even need to...
  13. Neil Lukins

    Guarantor for company account

    TCs reviewed and key points below Where the PG is J/S, the exposure would be the same. The policy can cover up to 5 Directors at no additional cost, for this reason, it would make sense to also add the co-Director to the Policy. All Directors would need to complete a Declarations form. The...
  14. Neil Lukins

    Guarantor for company account

    As a director you could approach the bank if you are named on the account to see if they can switch the guarantee from joint and several to limited liability e.g 40k each. They will only do this if both parties can prove they have some nett worth. If not they will just keep as J/S...
  15. Neil Lukins

    Advice on where to get a small business loan

    Sorry - Its should have read "The question that many lenders would ask" Typed the response without proof reading. Thanks Gordon for pointing out the mistake.
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