Taxation Funding (Tax Pay)

Lending Strategy operated by Credit Originator, Apxium.

Instalment loans for the clients of the accounting firms Apxium services. The loan solution turns lump-sum tax bills into scheduled payments. Loan funds are paid directly to the tax authority on the borrower's behalf, never to the borrower, which removes the opportunity for funds to be diverted. Each tax debt is repaid on its own schedule of monthly instalments over twelve months. The facility revolves: as instalments are repaid, the borrower may add new tax debts up to its limit, subject to annual review.

Interest in advance. The loan's interest is collected with the first instalment, not spread across the term. For a lender this is a better order than the usual one: once the first instalment is paid, the interest on that loan has already been received and is no longer at risk, and what remains outstanding is principal only, falling with every instalment.

End Borrowers are established small, medium and large businesses across diversified industries, with exclusions for high risk industries. Security is by Guarantee and Indemnity and Personal Guarantees from directors or beneficial owners (exceptions apply). Financial covenants include minimum net tangible assets and debt service coverage tests; reporting covenants require statutory accounts annually and activity statements and management accounts every six months. Eligibility requires a minimum of three years' trading history.