Premises fit out for food distribution company

Term: 60 months
Amount: £120,000
Feature: third charge

A food distribution company needed funding to fit out their new shop following their acquisition of a competitor.

A negative net worth and two prior charges on their residential property meant they were having difficulty sourcing funding.

Our underwriters always look at the bigger picture, and on this occasion were happy that the business plan and LTV supported the loan requested.

Outcome

A loan of £120,000, supported by a 3rd charge on their property, enabled them to complete their shop fit out as well as upgrade their website and left them with some funds to ease their cashflow.

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