Interest Rate 2.5% over Base Rate
1.5% Arrangement Fee
12-month Overdraft facility of £300,000
15 Year term loan of £410,000
We were approached by a client who had built up a successful business supplying heating fuel, coal and logs to residents in rural locations.
Whilst the business was thriving, it was hamstrung by its current banker’s reluctance to increase its overdraft facility.
We undertook a full analysis of the customers accounts and were able to present a proposition to several High Street lenders, which highlighted the problems he had encountered, the strength of the business today, its current profitability and the plans the client had for the future of his business.
After receiving several positive responses from all the lenders we selectively approached, we discussed the pro’s and cons of each proposition. Our client chose a bank who in his words “have gone the extra mile” and not only more than doubled his overdraft facility but also offered a £410,000 term loan in the form of a commercial mortgage which meant he could accelerate his expansion plans