The client contacted us with a view to securing a cash injection for their business, as the cost of expansion was putting a strain on their cash flow.
The application was made more difficult as the business was set up using an unusual structure. Although it was a Ltd company, it was limited by guarantee rather than shares. This left us with very few lenders to choose from and a complex application procedure standing between us and the funds that our client needed.
Along with obtaining the appropriate documents, accounts and taking time to fully understand the company structure, we were able to successfully fund the application through a specialist lender within the client’s desired timescales.
The funds were released, allowing the client to take their business forward, meaning more secure housing for vulnerable people.
- Loan Amount – £30,000.00
- Rate Offered – 11.2% per annum
- Term – 60 Months (5 years)
- Monthly Repayment – £700.09 per month
The Adviser’s View
Whenever an application completes, it’s always satisfying. When you know that money will be used to help vulnerable people directly, it’s even more rewarding.
The prevention of homelessness is a really important issue and I’m absolutely delighted to play a role in that, however small.
The application posed a particular challenge as the company structure was relatively unusual but, in the end, we secured a positive result for the client.