Bridging Loans and Finance
Saving a Business in 24 Hours with Pub Finance
Stepping in when delays almost scuppered a deal, we were able to stop a client losing their business on the same day as we were asked to help by swiftly securing pub finance.
Last-Minute Pub Finance
A popular English pub approached us to refinance their pub and restaurant. Looking to secure £455,000 to pay off a loan, legal delays had meant they were in a very awkward position. The deal appeared to be finalised, but solicitors were stalling and they were still no closer to completion.
This was on an attractive, long-term lease. However, many lenders had been approached previously and would not finance a pub – let alone refinance one that had an expired bridging loan.
What We Did
After speaking to one of our introducers, who promptly passed on their details, our team ensured the pub had terms the same day, the valuation rewritten in three days and solicitors working on the completion that week.
Despite that fact the lending became riskier after receivers were called in by the original lenders, our contact understood that this did not weaken their position.
We took the case through to completion and are happy to say our client did not lose the property.