Objective
Our introducers’ client had put an offer on a hotel in Torquay, with the intention of renting it to a business that runs a residential elderly care service.
Obstacle
The care sector has been hit hard by the pandemic and the client was introduced to us having already been declined by several mainstream banks.
Outcome
Our team of commercial finance experts were able to secure terms with a challenger bank who offered 60% LTV against a purchase price of £2m, at a rate of 3.12% plus BBR.
This case demonstrates how we can obtain terms with non-traditional commercial finance lenders and challenger banks, even for business that have been hardest hit by the recent pandemic. Your self-employed clients may appreciate a call to discuss their cash-flow requirements now that businesses are looking to return to normality.
Subject to status. Product and criteria availability is subject to change or withdrawal at any time. For intermediaries only.
