TrailBlazer Finance launches an exciting new loan product – Multi-redraw facility
The boutique financial service and niche lender, TrailBlazer Finance has just announced an innovative new product for clients looking to procure a loan to fund their businesses ongoing cashflow needs. Dubbed the “Multi-Redraw Facility”or “MRF”, this new financing option allows business clients to lock in a fixed rate, fixed term, facility for their business and then repeatedly come back for top-ups, to continually maximise the entire facility. Head of Sales and Business Development at TrailBlazer, Robert Seton, explained this innovative new redraw facility as being, “similar to having a come-and-go facility but with the unique feature of having the certainty of fixed interest rates.”
The product was designed for brokers or planners whose trail book (or recurring income) is stable or growing. Normally brokers or planners qualify for a loan but find that as they make principal repayments the amount they can borrow shrinks, providing less and less gearing over time. Now the borrower gets certainty (subject of course to ensuring serviceability) of both funding and rates, without the hassle of having to establish new terms, or vary their existing facility each time additional funds are required. This translates into faster turnaround time, with funds ordinarily provided within 96 hours of request. This simplified process is set to be a game-changer for those in need of funds for opportunistic purchases of other books or practices, or even emergency funds – whilst paying only a fraction of what some of the new breeds of peer-to peer-funders are charging. Unlike ordinary fixed-rate facilities, the MRF allow clients to quickly access finance at lower costs, thus ensuring security and accessibility for all in need.