CRITICAL BUSINESS FUNDING

The Background

An established Kennels and Cattery business urgently needed £100,000 in funding for essential repairs and improvements to comply with strict licensing requirements.

The Challenge

The business faced several hurdles:

• COVID Impact: The pandemic had significantly reduced their turnover, depleting available cash reserves.
• Mortgaged Asset: Their primary business asset (also their home) was already mortgaged to a High Street bank, ruling out a traditional remortgage.
• Bank Rejection: Having already approach their existing Bank, they were unfortunately unable to assist.
  

The Solution

We were thrilled to collaborate with our clients and successfully secured competitive terms from a commercial lender. The final financing arrangement was at 75% Loan-to-Value (LTV) on an interest-only basis. With this project now operational, our clients are already making progress on their next, even more ambitious venture.