After one of their businesses experienced a decrease in turnover due to the pandemic, this Northampton based Property Developer needed a funding partner that could provide swift and tailored support alongside the funding required to assist the business whilst it restructured.
The business was introduced via industry-broker Matthew Hilllyer from Arc & Co. Matthew explains, “We needed to find a Bridging Finance solution that could be put in place promptly due to the nature of the business and the challenges they were facing, and I knew that Ultimate Finance could deliver exactly that after working with them previously”. Regional Director Laurence Trevaskis quickly agreed that a Refinance Bridging Loan would be the perfect tool to support the business’ ambitions and worked closely with both myself and our client to tailor a Bridging Finance facility.
Laurence Trevaskis comments, “Because of the multitude of impacts of the pandemic, many companies have struggled, and are still struggling, to bounce back. In this case, our client had a vision of strategically restructuring their business to allow them to trade profitably at a lower turnover, and they needed the right funding to get them there”.
Laurence continues “Speed was of the essence, and because of our 20 years of experience as an asset-based lender we were able to fully understand the business and its immediate and long-term needs from the get-go and we had the funds released within just one week from approval to assist with the restructure. Our £1m Bridging Loan enabled the business to refinance against one of their portfolio properties, and because the facility was designed to support with the release of equity, excess funds of around £300k will provide them with access to the cashflow they need for the coming months”.
Matthew explains “It was vital for our client that we had someone that was experienced in Bridging Finance and could really understand the current environment and their business as a whole”.
“Working with Laurence and the team at Ultimate Finance I knew we would be able to truly support our client’s ambitions due to their first-class service and the speed in which they were able to put a Bridging loan in place to enable my client to resume purchasing several new properties in the area and kickstart their growth again”.
Find out more about how our Bridging Finance solutions can help access up to £3m and receive a decision in principle within 24 hours and a fully credit backed offer within 72 hours.