Refurbishment for a new business start up – Total Loan £125k
The situation: This client owned a large farmhouse in Yorkshire and wanted funding to turn the farmhouse into a seven bed self-catering holiday accommodation. The property required significant expansion, and improvement to be used as a holiday let, the venture was a new start, projection led business.
The solution: We approached a local building society who specialise in holiday lets. The lender agreed to advance £125,000 over a 10 year term on an interest only basis giving the client an increased cash flow through lower payments while she grew the business.