Pricing Examples
An administration fee is payable on all business loans charged at 2% of the total loan: For example on a loan of £2000 the fee will be £40.00
Business Loans: 22% variable APR
The interest rate is charged on the declining loan balance - the applied interest rate is shown on the table below*
Loan amount | Frequency of payments | No. of payments | Payment amount | Applied interest rate | Interest charged | Admin fee | Total to pay back to SCML |
| £300 | Weekly | 31 | £9.99 | 11.18% | £9.69 | £12.00 | £321.69 |
| £600 | Monthly | 18 | £38.29 | 19.64% | £89.22 | £24.00 | £713.22 |
| £1,500 | Monthly | 24 | £75.78 | 21.03% | £318.62 | £60.00 | £1,878.62 |
| Loan amount | Frequency of payments | No. of payments | Payment amount | Applied interest rate | Interest charged | Admin fee | Total to pay back to SCML |
| £300 | Weekly | 31 | £9.99 | 11.18% | £9.69 | £12.00 | £321.69 |
| £600 | Monthly | 18 | £38.29 | 19.64% | £89.22 | £24.00 | £713.22 |
| £1,500 | Monthly | 24 | £75.78 | 21.03% | £318.62 | £60.00 | £1,878.62 |
| Loan amount | Frequency of payments | No. of payments | Payment amount | Applied interest rate | Interest charged | Admin fee | Total to pay back to SCML |
| £300 | Weekly | 31 | £9.99 | 11.18% | £9.69 | £12.00 | £321.69 |
| £600 | Monthly | 18 | £38.29 | 19.64% | £89.22 | £24.00 | £713.22 |
| £1,500 | Monthly | 24 | £75.78 | 21.03% | £318.62 | £60.00 | £1,878.62 |
| Loan amount | Frequency of payments | No. of payments | Payment amount | Applied interest rate | Interest charged | Admin fee | Total to pay back to SCML |
| £300 | Weekly | 31 | £9.99 | 11.18% | £9.69 | £12.00 | £321.69 |
| £600 | Monthly | 18 | £38.29 | 19.64% | £89.22 | £24.00 | £713.22 |
| £1,500 | Monthly | 24 | £75.78 | 21.03% | £318.62 | £60.00 | £1,878.62 |
Loan amount | Frequency of payments | No. of payments | Payment amount | Interest charged (amount) | Admin fee | Total to pay back to SCML |
£600 | Weekly | 52 | £12.50 | £50.00 | £12.00 | £662.00 |
£3000 | Monthly | 24 | £149.76 | £594.14 | £60.00 | £3654.14 |
£7,500 | Monthly | 36 | £273.44 | £2343.74 | £150.00 | £9993.74 |
*Because we calculate the interest on daily balances, the regular payment and interest charged may vary slightly from the examples above. Written loan illustrations are available on request.