Resources
Questions we get asked
Including the awkward ones. Where the honest answer is unhelpful to us, it is still the answer.
What Reads is
About us, and the limits
What exactly do you do?
You tell us what you are buying and what sector it is in. We go to the lenders and brokers we know who have funded that kind of business before. We come back to you and tell you who can fund it and what they will want to see. That is the whole service.
Are you a broker?
No. A broker assesses your requirements, discusses the options with you and arranges the finance. We do none of those things. We make an introduction to someone who does.
Are you regulated by the Financial Conduct Authority?
No. Reads Commercial Finance is not authorised by the Financial Conduct Authority and holds no permissions of its own. The broker or lender you are introduced to holds their own, and any advice, recommendation or finance arrangement comes from them under their own terms.
So what are you actually worth?
Knowing who to ask. In the sectors we cover the value of a business sits in contracts and recurring income rather than in assets, and a lender who has not funded that kind of business before tends to price the uncertainty rather than the risk. Why Reads sets out the argument in full, including when you would be better off going straight to your own bank.
Will you tell me what rate I will get?
No, and nobody honestly can before a lender has seen the numbers. What we can tell you is which lenders fund deals of your shape and what they will want in front of them. Terms come from the lender or the broker, in writing.
Eligibility
Whether we can help you at all
Do I have to be buying through a limited company?
For us to make the introduction, yes. Introducing a company to a lender sits outside the credit broking rules, because an agreement with a company is not a credit agreement. Introducing an individual, a sole trader or a small partnership is credit broking, and it stays credit broking even on larger business borrowing, because the definition reaches agreements that are otherwise exempt. That is regulated work and we do not hold the permission for it.
Most acquisitions are made through an existing company or a newly formed one, so for the majority of buyers this changes nothing.
What if I am buying personally, or have not decided?
Say so on the form. We will not make an introduction. We will point you to an authorised firm directly and you deal with them from there. Telling us what you are buying is still worth doing, because it is what lets us point you somewhere sensible rather than anywhere.
My business is not in one of your six sectors.
Tell us anyway. A lot of what we know is sector-neutral: how a lender rebuilds your profit figure, how deferred money is treated, what contribution is expected. If we cannot add anything beyond what your own bank would do, we will say so.
I am not buying anything, I just need funding.
That is fine. Acquisitions are what we know best, and the funding types section covers the products used for property, equipment, cash flow and growth as well.
Money and obligations
What it costs and what you are committing to
What does this cost me?
Nothing payable to us. We may receive a commission or an introductory fee from the broker or finance provider where finance is arranged following our introduction. Any fees payable by you are the broker's own, and they will set those out to you in writing before you commit to anything.
Does that not make you biased?
It is a fair question and you should factor it in. It is also why we do not advise you or recommend a product: we make an introduction, and the person you are introduced to has their own duties to you that we do not have. If you want a second opinion, get one.
Do I have to use the broker you introduce me to?
No. An introduction is an introduction. There is nothing to sign at that stage and no obligation on you at any point before you decide to proceed on the broker's own terms. If the conversation is not right, tell us.
How long does it take?
We come back to you quickly, usually the same working day. After that the timescale belongs to the lender and depends on what you are funding. Timelines sets out what actually takes how long.
Your information
What happens to what you send us
Who sees my enquiry?
We share it with the broker or lender we introduce you to, and with nobody else, for the purpose of discussing your funding requirements. That is what the consent box on the enquiry form covers and it is set out in full in our privacy notice.
Will I be added to a mailing list?
No. The consent you give covers the introduction, not marketing.
What if I want it deleted?
Ask, and we will. The privacy notice explains your rights and how to exercise them.
Something has gone wrong. Who do I complain to?
If it concerns the introduction, us: see complaints. If it concerns the finance itself, the broker or lender has their own complaints process and their own regulatory obligations, and that is the right route.
Question not answered here? Ask it
Tell us what you are buying and what you want to know. If we cannot help, we would rather tell you that than take up your time.