Is there a minimum or maximum amount that BloomSmith will fund?
The minimum loan is £50,000, equalling the VAT on a £250,000 purchase. There is no maximum amount; however, VAT facilities are subject to discretionary approval and are subject to terms and conditions.
Can I submit multiple applications?
Yes. There is neither a limit to the number of applications nor to the loan amount that a customer can apply for (although each will be represented in an individual SPV).
What paperwork is necessary?
When an application is made to BloomSmith, you will be asked to complete our standard application form documentation and to provide requisite customer information as well as full details of the property to be purchased.
What sorts of references are required?
BloomSmith carries out an ID check and KYC (Know Your Customer) checks, and any personal and professional references will assist.
Who can you provide this VAT loan facility for?
Individuals, companies and brokers approach us. BloomSmith then requires the property to be purchased and held in a SPV (Special Purpose Vehicle), which can be established for the client. The director(s) of the SPV will have been approved by BloomSmith and will stand behind all obligations.
Do you offer a Fast Track service?
Yes. When time is of the essence, we can help. BloomSmith offers a Fast Track facility with rapid turnaround tailored to the needs of the transaction.