Homeowner Loan To Purchase A Business In York Case Study
Purchasing A Deli In York With A Homeowner Loan
Discover how ABC Finance homeowner loan experts helped this client secure a homeowner loan for a business acquisition in York.
The facility
Location
York
Capital raised
£80,000
How funds were spent
Purchasing an existing delicatessen business
The request
With both clients working in the industry, it seemed a simple process to purchase a business that was already trading profitably.
However a lot of lenders were very wary to lend, based on them classing this transaction as a new-business start-up, or requiring the business to already be owned by our clients.
The applicants required both funds to purchase and further borrowing in order to expand the business.
The solution
After providing evidence of the current business’s trading accounts, as well as the client’s own employment experience, alongwith the fact that they are keeping their existing employment, we got the application approved.
This was further bolstered by the fact that the clients planned to retain the existing retail staff and install some of their family members to oversee the running of the business.
To take a watertight approach, we had this case pre-underwritten in advance of full submission.
From application to receiving the loan took 6 working days, enabling the applicants to secure the new business and open the door to significant profits.
Gary Hemming
Commercial Lending Director
Why work with ABC Finance to get a homeowner loan?
Our team at ABC Finance are true experts in homeowner loans. We’re focussed on helping our clients to secure the best deal on their finance, quickly.
That’s why we offer market leading, fixed £1,495 broker fees on homeowner loans, no matter how much you borrow. Get in touch today and save thousands compared to what you’ll pay through the big comparison sites!