Loan applications to CWRT are considered on their merits and not by a computerised scored credit rating system. You may be asked to attend our Credit Committee meeting so that you can discuss your business in detail – this gives you a chance to state your case, and explain any historic issues e.g. past County Court Judgements.
There are no early repayments penalties, so if your business does better than you expect (or you win the lottery!) you can repay some or the entire loan early without any exit fees.
The interest on our loans is calculated daily on the outstanding loan balance. This means that if you over-pay, you will incur less interest over the term of the loan.
Posted in: Business Loan FAQs