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Answer

This area is associated with issues concerning company structures. Depending on the type of funding required, a review of the correct business structure will be required.

Historically individuals and partnerships have struggled to raise funding against specific business assets although this situation has now been mitigated by the opportunity to provide general security agreements (similar to the former debentures offered by companies) over their assets and undertakings. It is our experience, however, that financial providers still have as their preferred borrower a limited liability company when reviewing what level of funding will be undertaken.

It is necessary to carefully consider what security requirements are sought by a funder to ensure as far as possible funding to a trading entity is quarantined over the immediate assets of this entity and guarantees over collateral assets such as family homes and investment properties are minimised.

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