Key facts:
- Property: Underground car park in London
- Property value: £4,000,000
- Loan amount: £1,000,000
- 12-month CBILS facility, no interest
A recent case involves arranging a short-term loan for a commercial property valued at £4m in West End, London.
The client’s existing £1m loan with a high street bank was ending, and the bank had declined to renew it. The car park’s income had dropped significantly due to Covid restrictions; however, it was forecasted to go back to normal once the restrictions are lifted.
Using an array of different providers and different financial vehicles, it is possible to overcome even the most complicated and time-sensitive fundraising operational issues.
In this case, we arranged a 12-month CBILS facility where there is no interest to pay. The Coronavirus Business Interruption Loan Scheme (CBILS) was designed to provide financial support to smaller businesses across the UK that were losing revenue or saw their cash flow disrupted as a result of the COVID-19 outbreak. This allows the business to get back on its feet again and then refinance in a year’s time back to the high street bank once things are back to normal.
Specialists in this unique part of the market, Enness makes obtaining a large mortgage straightforward. As well as identifying the most advantageous large mortgage rate for you, we act as your trusted partner throughout the purchasing process. We can tailor a bespoke commercial property finance deal for your situation, create a degree of long-term security, and maximise your assets to reduce your finance costs.
Whatever your circumstances, we offer honest, straightforward advice to explain what your options are, how to secure a perfect deal, and the different ways we can help you.
Information contained in our case studies is for market and illustrative purposes only. In some cases, these may be made up of multiple cases and are for illustrative purposes only.
Some case studies are made up of enquiries that have come into the business, not all business completes, and the posting of a case study does not represent a completed piece of business.
