Our client owned several businesses and was seeking to raise funds to purchase another business that would complement the existing business portfolio. Total funds required were £1.6m which would be sufficient to cover the existing mortgage and the purchase of the new business.
The client was over the age of 70 which meant many lenders would not consider lending, and the fact that the lending was for business purposes further reduced the pool of available options.
We found a private bank who was willing to look at the client’s overall position and could see the value in the direction the client wanted to move as well as consider the financial investments held by the client which could provide income if required.
We managed to fund the entire amount on very competitive terms and did so very quickly to enable the purchase of the new business in a timely manner.