Aldermore had introduced VAT loans to cover the VAT due on the purchase of commercial properties.
The new loans, available when taken out with an Aldermore commercial mortgage, will allow SMEs to manage their cash flow when purchasing VAT-qualifying property – helping them to spread these costs over four months, rather than facing significant upfront payments.
Caroline Luxmore, head of commercial mortgages at Aldermore, said: “Purchasing a commercial property can pose a real challenge when it comes to managing cash flow, often requiring significant upfront payments. By building strong relationships with our customers, we are able to really understand their needs – and develop products and services which help them to grow.
“The introduction of these new loans will allow them to spread this cost over several months, ensuring they can maintain cash for other business needs.
“Commercial mortgages continue to form an important part of Aldermore’s business finance offering, and we have strengthened our team over the course of the year to meet growing customer demand.”