Just a flavour of some of the deals that we have recently completed
Open ended Bridging facility
Open ended bridge facility £1.1m agreed which completed within one month of first meeting with customer. Customer wished to pay divorce settlement ahead of completing sale of his unencumbered property. Customer had significant farming assets to relocate so the bridging loan gave time for this to happen. The loan was agreed at up to 70% of value of property being sold with ability to exit after one month. Customer commented ‘Bespoke Banking really helped me complete the divorce settlement ahead of selling my property. The bridging facility provided more than enough time for my property sale to complete and allowed much needed time for me to move my significant assets to my new home. Mark Robinson went out of his way to facilitate drawdown of the loan and service was brilliant!’.
Confidential Invoice Discounting facility
This was agreed for a building services contracting company. £5m revenue business engaged in contracting work on petrol forecourts with national filling stations. Facility required to support working capital where company was growing quickly and traditional bank overdraft was inadequate to support. Facility limit £500k has enabled the company to expand further.
Commercial investment property loan
This £1.3m facility was negotiated with a repayment profile over 20 years. Property portfolio consists of three retail units and 10 residential units.
Coronavirus Business Interruption Loan Scheme
Assisted a long standing client with their application for a loan under the newly announced scheme. This has included numerous phone and video calls to gather all the required information, writing up a detailed report for the Bank, preparing cashflow forecasts to support the application and liaising with the Bank.
Working Capital Requirements
Worked with a trading client to ensure that their working capital requirement was preserved by helping to provide an invoice discounting facility. This will allow the client to not only manage their current cashflow but also to ensure that they will be ready to meet the demands when lockdown is over and trading conditions "return to normal".
Assisting a client to refinance their SIPP lending, allowing them to inject additional capital into their SIPP and also reducing interest rate by 50%.
Helped a client access short-term bridging facilities to assist with the purchase of an option on some residential building plots ahead of providing development finance to repay the bridge and allow the client to satisfy planning conditions.