Term loans writing on a hand
Top 10 Tips

Tip 7 – Reduce Term Loans to Interest Only

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The Video Transcription:

The cash flow consequences to the business of trading losses are exacerbated by making high capital repayments at these difficult times. Reach amicable agreement with your bankers to reduce these term loans to interest only. This can be for a temporary arrangement even if it means that later repayments will be higher by spreading the missed period over the remaining term of the loan.

Bankers are more receptive to interest only arrangements for a period as the loan balance does not get increased and is therefore not impaired and the interest charges are not increasing the loan balance.

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David Murray

David Murray

David is a fully and Highly Qualified Financial Accountant with an unblemished record for almost 30 years.

David has an extensive Academic Record including, inter alia – Gold Medal College of Commerce – First Place Chartered Accountancy (ROI) – Fastest Graduate to Qualify.

David has written many articles on International Trade Finance in Magazines and Sunday Business Newspapers. In addition, has been Late Late TV Show Tested on cases referred by them.

David has extensive Business Experience particularly in Property, Construction, Manufacturing, Equipment, Telecom, Service Companies, SME Sectors in Ireland, UK, Dubai, Poland, etc., Agent in Ireland Bank of Iran, Plc Bank Seminars “Finance for Builders”, etc., etc.

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