One of our clients needed to scale up their business premises and had been leasing for the last 5 years.
They wanted to invest in a property for their family business and saw an opportunity to buy land with planning permission to build a unit of 9,000 square feet which was ideal.
We were able to fund the purchase of the land with a term loan, which was secured on the land at very good rates, as there are some specialist lenders that have access to subsidised loans where they are used to create jobs.
We then used a similar, but different, company to provide bridging finance for the build of the new premises. Once the premises were completed, we then provided them with a commercial mortgage to repay both bridging finance loans.
