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Growth & Corporate Finance
Debt Consolidation
Combine multiple debts into a single, manageable facility with one monthly payment.
Loan Range
£10,000 – £5,000,000
Terms
1 – 10 years
Decision
3–6 weeks
Purpose
Combine multiple debts
Key Features
- Single monthly payment
- Potentially lower overall rate
- Simplified debt management
- Improved cashflow
Use Cases
- Consolidate loans
- Consolidate credit cards
- Simplify multiple facilities
- Reduce monthly outgoings
Eligibility Criteria
Existing business debt
UK registered business
Affordability assessment
Documents commonly requested
- Recent business bank statements
- Latest filed accounts and current management information
- Identification and business ownership information
- Evidence supporting the funding purpose
- Property, asset, invoice or contract information where relevant
The exact list depends on the facility and lender. Documents are requested only when relevant to the application.
Important considerations
- Compare the total cost, not only the headline rate
- Understand arrangement, valuation, legal and exit fees where applicable
- Check how repayments affect business cashflow
- Review security, debenture and personal-guarantee requirements
- Consider early repayment and default provisions before signing
How it works
- Tell us about your funding need
- We compare the whole-of-market lender network
- Receive competitive offers tailored to you
- We manage the application to completion
Why use FinanceMyCompany?
- Whole-of-market lender access
- Transparent, fee-clear advice
- Dedicated finance specialist
- Fast, straightforward process
Debt Consolidation — Frequently Asked Questions
Will debt consolidation reduce my monthly payments?
By extending the term or securing a lower rate, monthly payments can often be reduced significantly.
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