This financing was provided to a borrower in the automotive industry, with the specific purpose of supporting the launch of a new rental offering.
Moorgate, a well-established commercial finance brokerage since 2015, specialises in providing diverse financial solutions to businesses. Their services range from asset finance and unsecured loans to business protection and residential mortgages. Moorgate Finance aims to be a one-stop-shop for all funding requirements, forging strong partnerships with introducers and asset suppliers.
The borrower, a supplier partner of Moorgate, in the automotive sector, had achieved remarkable growth, even during the challenging economic conditions caused by the pandemic. Recognising an opportunity to diversify their product range and explore new revenue streams, they sought financing to embark on this ambitious venture.
Moorgate considered multiple funding options for their client but ultimately selected Momenta due to the early settlement terms, aligning with the client’s desire to repay the debt quickly without incurring additional costs. Momenta allows for:
Over-payments of up to 10% of the outstanding loan balance annually without incurring any early settlement fees.
No early repayment charge after 12 months.
When it comes to navigating the complex world of commercial financing, experience and flexibility often make the difference between success and disappointment. George expressed his appreciation for the unique approach that Momenta brings to the table, “The beauty of dealing with Momenta, not just in this transaction but in others as well, lies in their unwavering commitment to crafting deals that truly benefit the customer. In an industry where many lenders rely on algorithms and ‘computer says no’ attitudes, it’s incredibly refreshing to work with a team that prioritises a human-led approach to underwriting.”
Tom Shave, the Business Development Manager at Momenta, played a pivotal role in the successful completion of this deal. George shared his perspective “Tom is a true pleasure to deal with. This isn’t my first transaction written with Tom, and across all of our dealings, Tom has always endeavored to keep me updated on where deals are in the process. He has understood any time constraints or quirks in individual deals, and has always been willing to work with us to piece together a deal. As brokers, we are always talking about the need for clear and concise communication with our lenders, and Tom is the embodiment of that.”
Momenta is proud to have partnered with Moorgate Finance Ltd to provide a tailored solution that aligns with the borrowers goals.
Momenta Finance, formerly Merchant Money, is a leading provider of alternative finance solutions headquartered in London, United Kingdom. Established in 2013, Momenta offers a panorama of lending options, including unsecured and secured business finance, bridging and cash advances. The company’s commitment to transparency, tailored and credible funding has made it a trusted partner for businesses seeking financial support. Momenta Finance is accredited by the British Business Bank and upholds the highest industry standards.
A commercial mortgage is a specialised loan designed for businesses that currently own their trading premises or are looking to purchase new or additional business premises, it is tailored to meet the unique needs of this type of commercial property financing.
Exploring Our Interest-Only Commercial Mortgages:
We take a personalised approach, using manual underwriting to consider the bigger picture and provide tailored finance solutions for our clients. Here’s what you can expect from our Interest-Only Commercial Mortgages:
Loans of up to £750,000
24-month Term
Interest-only for the full term
Up to 65% Loan-to-Value (LTV)
No exit fees
Interest rates starting at 7.5% + SONIA
Is an Interest-Only Commercial Mortgage the right solution?
If you already own your trading premises and need to access equity for various reasons like boosting cash flow, renovating the building, purchasing assets, or expanding your business, our commercial mortgage might be the perfect fit.
If you’re looking to buy your trading premises from the current landlord or acquire new ones to expand your business, our team can help.
Here’s why it might be ideal for your business’s growth plans
Flexibility for Long-Term Goals: An Interest-Only Commercial Mortgage provides a more extended loan term, typically 24 months, allowing you to plan for your business’s future without the constraints of shorter-term financing options.
Interest-Only Payments: With this mortgage, you’ll only pay interest throughout the loan term, freeing up valuable working capital for other aspects of your business.
Bullet Repayment: When the loan matures, you can efficiently settle the principal amount with a bullet repayment, ensuring a smooth and manageable exit strategy.
Competitive Terms: Momenta Finance offers competitive interest rates starting at 7.5% plus the Sterling Overnight Index Average (SONIA), making it an attractive financing option.
Quick Funding Turnaround: In the fast-paced business world, time is of the essence. Our Interest-Only Commercial Mortgages are designed for a quick turnaround, with most loans processed in less than four weeks.
How to apply for an Interest-Only Commercial Mortgages
To get started, complete and submit an application form. We’ll then assess the property’s value and conduct legal due diligence. If approved, you’ll receive a mortgage offer.
To apply, you will need to supply the following documents:
We’re is committed to helping you navigate the world of commercial property finance. If you’re ready to expand your business, purchase office space, or upgrade your premises, our team is here to guide you through the process and provide the financial tools necessary to propel your business forward.
Contact us today to explore how our Interest-Only Commercial Mortgages can be tailored to your unique business needs. Your future success begins with the right financing choice.
Momenta Finance, formerly Merchant Money, is a leading provider of alternative finance solutions headquartered in London, United Kingdom. Established in 2013, Momenta offers a panorama of lending options, including unsecured and secured business finance, bridging and cash advances. The company’s commitment to transparency, tailored and credible funding has made it a trusted partner for businesses seeking financial support. Momenta Finance is accredited by the British Business Bank and upholds the highest industry standards.
On-Site Finance specialises in secured and unsecured funding, property financing, invoice finance, and business restructuring. The family business, situated in Alresford, sought working capital to support operational expenses, invest in new equipment, and seize growth opportunities. Initially, they requested a £25,000 loan over 60 months, however, Hannah proposed a £50,000 loan.
Recognising the value of the additional funds, the client embraced the adjustment. Momenta Finance became the preferred choice due to our reputation for competitive rates and flexible terms that aligned with the client’s needs.
Hannah shared her experience, saying, “Working with Alex Forster was a game-changer. His expertise and dedication ensured we could provide our client with the best possible financing solution. The collaboration made a real difference.”
The application process was efficient, and the funding was disbursed within two-weeks of application. Hannah’s collaboration with Alex, her dedicated Business Development Manager, was pivotal in achieving this swift solution. Alex’s deep knowledge of Momenta’s products and commitment to broker support ensured the client received an optimal financing package.
The results of this deal were highly favourable for the client and On-Site Finance:
The client received an unsecured loan of £50,000, surpassing their initial request of £25,000, enabling them to address their working capital needs more effectively.
The rapid turnaround time of two weeks from application to disbursement ensured that the client could promptly address their financial challenges and proceed with their projects without delay.
Hannah’s client was pleased with the seamless process and the professionalism of On-Site Finance and Momenta Finance in handling their financial needs.
The collaboration between On-Site Finance and Momenta Finance exemplified the power of teamwork and expertise in the financial industry. This success underscores the value of tailored financial solutions and efficient service delivery.
Momenta Finance, formerly Merchant Money, is a leading provider of alternative finance solutions headquartered in London, United Kingdom. Established in 2013, Momenta offers a panorama of lending options, including unsecured and secured business finance, bridging and cash advances. The company’s commitment to transparency, tailored and credible funding has made it a trusted partner for businesses seeking financial support. Momenta Finance is accredited by the British Business Bank and upholds the highest industry standards.
Jeremy, also known as Jez, brings his record of finance excellence to his role as Sales Director at Momenta Finance. With a distinguished career marked by consistent achievements, Jez exemplifies leadership, growth, and relationship-building.
Jez has an extensive background in various sectors of finance, notably excelling in working with brokers. His career began in leasing, with Econocom, formerly ECS a wholly owned subsidiary of Soc Gen. He later ventured into business lending at Funding Circle, showcasing his adaptability. His leadership talents shine through his experience at Funding Circle, where he played an instrumental part in its transformation from a company of 70 to a formidable size today. Throughout, Jez’s knack for new business development is evident, consistently surpassing targets and expanding market presence.
Beyond his professional achievements, Jez is recognised for his genuine and open approach to relationship-building. His emphasis on trust has not only fostered strong external partnerships but also a collaborative atmosphere internally.
Jez’s dedication is not confined to the workplace. Family comes first; his tight-knit family of four recently welcomed a new member, an energetic pup named Dotty. His commitment to coaching and development is also evident in his coaching of two football teams on weekends.
Contact Jez
For brokers looking to connect with a seasoned professional who understands the nuances of the industry, Jez is the go-to person. Don’t hesitate to reach out and connect jeremy.crinall@momentafinance.co.uk.
Momenta Finance, formerly Merchant Money, is a leading provider of alternative finance solutions headquartered in London, United Kingdom. Established in 2013, Momenta offers a panorama of lending options, including unsecured and secured business finance, bridging and cash advances. The company’s commitment to transparency, tailored and credible funding has made it a trusted partner for businesses seeking financial support. Momenta Finance is accredited by the British Business Bank and upholds the highest industry standards.
Our commitment is reflected in our Refinancing Solutions – a pathway towards managing existing loans more effectively.
Our refinancing loans are designed to offer borrowers better interest rates and extended loan terms, making their existing loans more manageable and affordable. Whether it’s reducing monthly obligations, lowering interest payments, or gaining more control over one’s financial future, refinancing offers flexibility and customisation.
Why Opt to Refinance Existing debt?
Borrowers often opt for refinancing when faced with high interest rates or changing financial circumstances. The decision to refinance can stem from various motivations:
Lower Interest Rates: With fluctuating interest rates, borrowers may find themselves paying higher interest on their existing loans. Refinancing allows them to secure a new loan with a lower interest rate, resulting in reduced interest payments over time.
Improved Loan Terms: Longer loan terms provided through refinancing can lead to decreased monthly payments, providing borrowers with more breathing room in their budgets. This extended timeline can be especially beneficial when managing multiple financial commitments.
Debt Consolidation: Refinancing can also be an avenue to consolidate multiple loans into a single, more manageable payment. This streamlines finances and simplifies the repayment process.
Recent Refinanced Deals
Within the first two weeks of August, we successfully refinanced several loans, presenting significant benefits to borrowers. Notably, a key highlight of these transactions was the reduction in monthly interest rates, affirming our steadfast dedication to bolstering the financial wellness of our borrowers. It’s worth highlighting that this reduction resulted in interest rates being lowered by an impressive range of between 1.3% – 3.9%.
Additionally, many borrowers not only benefited from reduced rates and longer terms but also gained access to fresh funds to further support their financial goals. While we take pride in these achievements, our work does not stop here. Presently, our dedicated team are diligently working on additional refinance offers, meticulously tailored to address the unique and evolving needs of our diverse clientele.
As the financial world continues to evolve, we stands as a resolute partner, unwavering in our commitment to equipping borrowers with the necessary tools and strategies to confidently navigate financial uncertainties while seizing emerging opportunities.
Momenta Finance, formerly Merchant Money, is a leading provider of alternative finance solutions headquartered in London, United Kingdom. Established in 2013, Momenta Finance offers a panorama of lending options, including unsecured and secured business finance, bridging loans and business cash advances. The company’s commitment to transparency, tailored and credible funding has made it a trusted partner for businesses seeking financial support. Momenta Finance is accredited by the British Business Bank and upholds the highest industry standards.
This strategic expansion has paved the way for an impressive 145% upswing in originations across the spectrum of its product offerings, cementing Momenta Finance’s reputation as an introducer-centric financial partner that thrives even in challenging times.
Highlighting its financial strength, Momenta Finance secured funding from two esteemed partners. With the backing of a £115 million funding line from Barclays Bank PLC and the strategic collaboration with Quilam Capital, Momenta Finance is well-positioned to continue providing essential financial solutions to businesses.
A key distinguishing feature of Momenta Finance’s success lies in its commitment to a quick turnaround. As businesses grapple with time-sensitive financial needs, Momenta Finance has streamlined its processes, boasting a service level agreement (SLA) that ensures swift responses and efficient solutions. This dedication to a quick and efficient response empowers businesses to navigate uncertainty with confidence.
A recent illustration of Momenta Finance’s agility is the funding of an unsecured £250,000 loan to a company operating in the events space. Introduced via a trusted partner, the 5-year facility was funded in less than 4 days from submission. This accomplishment serves as a testament to the company’s commitment to providing versatile financial solutions and efficiently showcases Momenta Finance’s ability to swiftly assess, approve, and deliver on financial requirements.
The company’s introducer-centric philosophy, coupled with robust funding partnerships, solidifies its status as a trusted ally in navigating the complexities of the current economic landscape.
Momenta Finance, formerly Merchant Money, is a leading provider of alternative finance solutions headquartered in London, United Kingdom. Established in 2013, Momenta Finance offers a panorama of lending options, including unsecured and secured business finance, bridging loans and business cash advances. The company’s commitment to transparency, tailored and credible funding has made it a trusted partner for businesses seeking financial support. Momenta Finance is accredited by the British Business Bank and upholds the highest industry standards.
Total loan book recorded a growth in excess of 40% during the H1 period, primarily fuelled by a substantial 145% increase in originations across all product offerings.
Business loan books witnessed an impressive surge of over 25%.
Property loan book experienced an increase of over 75%.
Our success is not solely measured by the numbers, but also by the strength of our introducer panel. Our panel has experienced a notable 22% increase compared to the previous quarter, a testament to our dedication to collaboration and our ability to deliver exceptional service to our partners.
Notably, construction, retail trade, entertainment, recreation, and travel have experienced substantial growth. However, we are not limiting ourselves to these sectors alone. Our strategic vision revolves around providing tailored financial solutions across a wide range of industries. We are actively partnering with introducers to extend support to SMEs operating in manufacturing, agriculture, transport, and other professional services. This initiative empowers UK businesses with customised financial solutions, fostering growth in critical sectors.
Luke Jooste, CEO of Momenta Finance said “Our success going into the year has been a result of our strategic focus on business loans and a compelling rebrand, both of which have amplified our market presence. As we continue to grow, our commitment remains centred on empowering UK SMEs and nurturing success across diverse industries”.
Momenta Finance, formerly Merchant Money, is a leading provider of alternative finance solutions headquartered in London, United Kingdom. Established in 2013, Momenta Finance offers a panorama of lending options, including business finance, bridging loans, and business cash advances. The company’s commitment to transparency, tailored and credible funding has made it a trusted partner for businesses seeking financial support. Momenta Finance is accredited by the British Business Bank and upholds the highest industry standards.
Among the various financing solutions available, two options stand out: property development finance and bridging loans. Each is designed to cater to specific needs in the real estate market.
Property Development Finance
Property development finance, caters specifically to real estate developers and investors seeking funds for property construction projects. Whether it’s refurbishing a residential property, construction on new residential or semi-commercial projects, or embarking on large-scale developments, property development finance offers a more extended repayment term and a structured financing approach tailored to the needs of the project. These loans are secured against the development project itself and are disbursed in stages, known as drawdowns, to align with the various phases of the development.
To secure property development finance, the following documentation and information are typically required:
Planning Permission: Developers must provide evidence that planning permission for the proposed development has been granted.
Cost Plan and Schedule: A detailed cost plan and schedule are essential to assess the viability and budget of the project.
Borrower’s track record: Lenders usually review the borrower’s track record in property development to assess their ability to successfully complete the project.
Planning Reference Number: The planning reference number is necessary for lenders to verify the planning permission status and details of the project
Property development finance offers a valuable funding solution for developers and investors looking to undertake residential property projects.
Bridging Loans: Understanding the Basics
In the ever-evolving world of real estate and property development, financial flexibility and quick access to funds can be crucial to seizing promising opportunities. Bridging loans have emerged as a popular option to bridge the gap between a short-term cash flow requirement and a more permanent, long-term financial solution.
This loan type offers a short-term financial solution that provides the borrower with rapid access to capital. Bridging the gap between immediate cash requirements and more permanent funding sources. Our bridging loans serve as a flexible and dynamic tool, catering to diverse real estate needs. Let’s delve into a few key uses of bridging loans that can accelerate your real estate ventures:
Equity Release against Properties: Do you own valuable properties but require immediate liquidity? Momenta Finance’s bridging loans can unlock the equity tied up in your existing properties. This option allows you to release cash without selling your assets, providing you with the financial freedom to invest in new ventures or address urgent financial commitments.
Residential and Mixed-Use Refurbishment Projects: Property refurbishment projects can be highly profitable, but they often demand substantial upfront investment. Our bridging loans are well-suited to finance residential and mixed-use refurbishment projects. With swift approval and competitive rates, you can renovate properties to unlock their full potential and maximise returns.
Property Purchases: Real estate opportunities arise unexpectedly, and seizing them often requires immediate funds. Whether you’re looking to acquire a dream property or a lucrative investment, our bridging loans offer the quick financing you need to secure the deal with confidence.
‘Development Exit’ Strategy: Property developers occasionally encounter unexpected challenges or require additional time and funding to complete their projects successfully. Our bridging loans can act as a ‘development exit’ solution. Providing developers with the necessary time and financial support to complete their projects and maximise their returns.
Momenta Finance’s Bridging Loans and Development Funding at a glance
Loan Amount: £200,000 up to £5 million
Loan Term: Up to 24 months
Security: 1st or 2nd charge basis
Personal Guarantee: Yes
Interest Rate: Starting from SONIA + 0.58% per month
Bridging loans and property development finance play crucial roles in the dynamic landscape of real estate investment and development. When seeking financial assistance for your property ventures, we are a reliable and proficient partner, offering tailored solutions, efficient processes and a customer-centric approach.
Whether you’re a seasoned property developer or an investor, we can help you bridge the financial gap and propel your ambitions to success.
Momenta Finance, formerly Merchant Money, is a leading provider of alternative finance solutions headquartered in London, United Kingdom. Established in 2013, Momenta Finance offers a panorama of lending options, including business finance, bridging loans, and business cash advances. The company’s commitment to transparency, tailored and credible funding has made it a trusted partner for businesses seeking financial support. Momenta Finance is accredited by the British Business Bank and upholds the highest industry standards.
With a comprehensive range of financing options, Momenta Finance stands out by offering clarity, innovation and a client-centric approach. Our compelling business loans provides SMEs with the necessary funds to fuel their growth, without the constraints of traditional financing options.
Understanding Your Business:
We believe that every business is unique and deserves a financing solution that caters to its specific needs. Our experienced underwriters invest time and attention to thoroughly understand your business, its potential, and its financing requirements. By leveraging this in-depth knowledge, we are able to provide the best possible financing options that align with your goals. From unsecured and secured business loans and business cash advances, our extensive portfolio covers a panorama of alternative finance solutions.
Transparent Lending and Financial Confidence:
We prioritise transparency, ensuring that our clients have a clear understanding of the terms and conditions associated with their financing. With Momenta Finance, you can have the financial confidence to make informed decisions and achieve your business potential. Our commitment to transparency extends beyond the initial stages of lending, as we maintain open communication throughout the process, ensuring you are well-informed at every step.
Streamlined Application Process:
We understand that time is of the essence for businesses, especially when it comes to accessing funds. That’s why we have developed a streamlined application process to make obtaining the financing you need easier and more efficient. With Momenta Finance, you can avoid the lengthy and cumbersome traditional lending processes. Instead, we leverage technology to simplify and expedite the application and approval process. Getting you the funds you require in a timely manner.
Accredited and Industry-Recognised:
We take great pride in our commitment to upholding the highest industry standards. We are accredited by the British Business Bank, a government-owned institution. Which reflects our adherence to stringent regulations and our dedication to providing reliable and trustworthy financial solutions. Furthermore, we collaborate closely with other industry experts to stay ahead of market trends and continuously improve our offerings, ensuring that our clients receive the best possible financing solutions.
We strive to be your trusted partner in helping your business succeed. If you are looking for more than just financing, if you want a collaborative partner who understands your business and shares your vision for growth, we invite you to get in touch with us today.
Our experienced team is ready to work closely with you, offering not only financial solutions but also strategic guidance and support. Whether you need assistance with expansion plans, cash flow management, or navigating the complexities of the business landscape, Momenta Finance is here to help.
Don’t settle for a traditional lender that only sees your business as a transaction. Choose Momenta Finance, a partner who will invest time and attention into understanding your unique needs and provide tailored solutions to help your business thrive.
Momenta Finance, formerly Merchant Money, is a leading provider of alternative finance solutions headquartered in London, United Kingdom. Established in 2013, Momenta Finance offers a panorama of lending options, including unsecured and secured business finance, bridging loans, and business cash advances. The company’s commitment to transparency, tailored and credible funding has made it a trusted partner for businesses seeking financial support. Momenta Finance is accredited by the British Business Bank and upholds the highest industry standards.
Traditional loans may not always be accessible or suitable. Especially for business that are new, lack significant trading history, or have fluctuating revenue patterns. This is where a Business Cash Advance (BCA), also known as a Merchant Cash Advance, can be a game-changer. Allowing the company to overcome short-term financial challenges, fund growth opportunities, or manage cash flow fluctuations with greater ease and convenience.
Our compelling BCA provides SMEs with the necessary funds to fuel their growth, without the constraints of traditional financing options.
Product Details Offered by Momenta Finance
Momenta Finance’s Business Cash Advance offers a range of features and benefits tailored to the needs of small businesses. Let’s take a closer look at the key aspects of this innovative financing solution:
Advance Amount: With Momenta Finance, businesses can secure a cash advance ranging from £10,000 up to £150,000. The advance amount is calculated based on a percentage of card takings. Allowing eligible businesses to access up to 120% of their monthly card transactions.
Advance Term: One of the notable advantages of our BCA is the absence of a fixed term. Instead, businesses can opt for top-ups after four months. Providing them with the flexibility to manage their finances based on their unique circumstances and evolving needs.
Factor Rate: Momenta Finance determines the cost of the cash advance using a factor rate, which starts at x1.18. This rate serves as a multiplier applied to the advance amount to determine the total repayment obligation. The specific factor rate will depend on various factors, including the business’s industry, trading history, and overall creditworthiness.
Repayment Structure: Repayments for the Business Cash Advance are calculated as a percentage of monthly card takings. This structure ensures that the repayment burden aligns with the business’s revenue flow, providing much-needed flexibility during periods of fluctuating income. When the business is thriving, it repays the advance faster, and during slower periods, it doesn’t have to worry about late payments affecting its creditworthiness.
When is the BCA the right funding solution?
A Business Cash Advance can be an ideal financing solution for businesses that meet specific criteria and face common challenges. Here are a few scenarios where a BCA may be the right fit:
Insufficient Eligibility for Traditional Loans: Many small businesses struggle to meet the stringent requirements set by traditional lenders for securing a loan. With our Business Cash Advance, even businesses that are not considered “big enough” by traditional standards can qualify for funding. As long as the business generates a minimum of £10,000 per month through card terminals, evidenced via merchant statements, it can apply for a BCA.
New Business Ventures: Most loan providers typically require a minimum of two years of trading history for traditional business loans. However, with a Business Cash Advance, Momenta Finance provides a viable alternative for startups and new businesses. They understand that young businesses often need access to funds to get off the ground and sustain their growth during the crucial early stages.
Fluctuating Business Revenue: For businesses with irregular income patterns, such as seasonal businesses or those affected by external factors, cash flow management can be challenging. A Business Cash Advance offers a repayment structure that is closely tied to the business’s card takings. As a result, businesses can navigate through periods of high and low revenue without the added pressure of fixed monthly repayments.
No or Limited Security: Traditional loans often require collateral or personal guarantees to secure the funding. However, depending on the situation, Momenta Finance
Get started with securing the funding your business needs
Our BCA presents a flexible and accessible financing solution for SMEs that may not meet the requirements of traditional loans. With straightforward application process, repayments based on monthly card takings, and the ability to receive top-ups after just four months, this financing option empowers businesses to seize growth opportunities and manage their cash flow effectively.
Whether you’re a new business, experiencing fluctuating revenue, or seeking an advance without the need for security, our BCA can be the catalyst for your business success. Explore the possibilities and take a step towards securing the funds you need to fuel your entrepreneurial journey.
Momenta Finance, formerly Merchant Money, is a leading provider of alternative finance solutions headquartered in London, United Kingdom. Established in 2013, Momenta Finance offers a panorama of lending options, including unsecured and secured business finance, bridging loans, and business cash advances. The company’s commitment to transparency, tailored and credible funding has made it a trusted partner for businesses seeking financial support. Momenta Finance is accredited by the British Business Bank and upholds the highest industry standards.
