£6.2m Bridging Finance for a Medical Business
The Client
A broker got in touch with us to help find a bridging loan for their client. The client’s, medical business and Limited Company owners, had recently completed a full refurbishment from an old bank to their newest medical centre. This new medical centre forms part of their business expansion into the UK market.
The Situation
The £6.2m bridging loan needed would be used to pay off their existing bridging development finance facility. Due to the niche property type and nature of the limited company with offshore directors, this wasn’t a straightforward case to fund, but our team were willing to take on the challenge.
The Outcome
Quickly after receiving the initial application, we had secured a specialist lender offering the full £6.2m and terms suited to the client’s needs. Thanks to our expert team, we were able to redeem the clients from their existing lender, and reduce their monthly payments, allowing the medical centre to continue trading. Consistent communication with all parties involved, allowed us to complete within 1 month, ensuring the clients avoided late repayment fees on their existing loan.
“It’s been a pleasure to help our clients with their complex needs in a bid to help the borrower’s business grow. Maintaining communication with the stakeholders throughout was key and instrumental, especially around managing offshore directors.”
David Parke - Lending Manager
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