Our client has been known to us for many years, we’ve raised capital for his business before and where funding has been debt based, the loans have been fully repaid on time.
When he approached us a couple of months ago, an urgent situation had arisen.
Business owners often tend to seek external financial support as a last resort. The perception is that it’s costly and something to avoid if at all possible.
This was the case here. Our client’s business is land acquisition & property development. On one particular site, some parcels of land have been sold and infrastructure works are underway. Deals are in the pipeline, lawyers are working on contracts of sale…. and suddenly there’s an urgent need for cash which ran into a decent six figure sum. One could blame over-optimism of our client and poor forecasting. Or the lawyers for being slow, ditto the local authorities, or the water voles…the list goes on.
What was certain was the need for urgent capital being injected into the business.
Fortunately, we know the right sources of capital and the terms on which new money can be secured and quickly. In this instance we delivered all the funding required from a private lender in a few short weeks. Our client’s company is based offshore, there was no time for a valuation and yet the rates we secured are highly competitive.
We are all delighted with the outcome. It enables our client to complete the sale of all parcels of land in a timeline without undue pressure and at the right pricing.
Our client comments.
“I’m grateful to Nick and his team – and not for the first time. As ever they delivered on what they said they would rather than make over optimistic promises. The funds I needed were in my bank account well before deadline day. Thanks again – I will always refer anyone I meet who needs business funding directly to you.”
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