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  • Glasgow (Giffnock) 01416212212
  • Hamilton 01698477614
  • East Kilbride 01355263777
  • Glasgow (Newton Mearns) 0141 611 5221
Law Society of Scotland

Business Finance

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Complete our online enquiry form here, email us or telephone your nearest office to get an immediate response and advice on Business Finance.

You can also read our helpful guide below for more information.

Few clients have ready cash to start up or extend a business. If they don’t, then there are various ways to finance a firm or a project.

The key is security. Banks will be willing to lend a) if they believe in the profitability of the operation, and b) if they have sufficient security so that if things go wrong, they can get their money back from a safe source. Hence the longer and more successful has been the life of a firm or company, the easier it is to get a loan or overdraft from the bank.

If the bank is nervous, it will seek security over other assets – most often the domestic residence of the business owner or shareholder/director. That may mean either a remortgage of the house or the granting of a second security to rank behind the main domestic mortgage (which is of course already secured on the house from when it was purchased).

Securities for Business Purposes

This is a step which the client should not rush into. Once granted, a security for business purposes is not easily discharged. And if the client is married or has a joint owner who is a domestic partner, that partner/spouse must be asked if they agree to have more security landed on their property. There are also legal costs associate with this. More generally, any client taking on borrowings will naturally talk to their accountant first, but should also consult with the solicitor, as it may very well be we as lawyers can advise the best, or better (or least bad) mechanism for financing the business. We also work with various lenders and Independent Financial Advisers who can give a wide range of finance and investment advice to help the overall consideration of the needs of the business. The sooner a client knows he or she wants to raise finance, the better he/she consults us.

Contact our Business Finance Lawyers in Hamilton, Glasgow and East Kilbride, Scotland

Based in Glasgow, Newton Mearns, East Kilbride and Hamilton in Scotland, our business finance lawyers can help you. Please complete our online enquiry form here, email us or telephone your nearest office to get an immediate response and advice.

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Client testimonials

"I wanted to make you aware of the first class and professional service I received during the purchase of my new house, and sale of my flats. Elaine MacDonald, and her assistant, Tracey Matheson were fantastic to work with. I was kept up to date at all times..."
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