Client: A newly formed SPV acquiring commercial premises for a well-established medical equipment supplier.
Purpose of Loan: To fund the acquisition of a new commercial HQ, replacing a delayed high street lender facility.
Loan Summary:
- Loan Amount: £880,000 (Net advance: £702,240)
- Term: 15 months (12 months interest retained)
- Security: 1st legal charges over commercial and residential properties; Debentures and guarantees
- LTV: 48.88% Gross (on MV), 58.66% Gross (on 90-day value)
Challenges:
- Urgent completion deadline due to capital gains tax timing
- Original lender unable to meet timescales
- Required multi-layered security and coordination
Outcome:
- Funding completed in time
- Site refurbished and leased to trading company
- Exit via refinance once lease in place
Added Value: Structured a multi-layered security package and executed quickly.
