Short Term Commercial Loan To Purchase Property & Land In Reading For Development

When a great business opportunity comes along, short-term bridging finance can be an excellent way of securing funding fast to secure a deal.

The Scenario:

Our client approached us to arrange a short-term finance facility in order to buy a property in Reading in need of major renovation, as well as a plot of land nearby with a single bungalow. The land already had outline planning permission for the construction of several houses.

He needed a loan of £1.3M quickly, to secure their opportunity to purchase.

The Solution:

The client was able to offer security in a gym business and a commercial unit owned in Reading, both rented out. He had considerable equity in both assets - the loan to value was less than 50%. Using this, we were able to leverage short-term funding at a very favourable rate, secured over a nine-month term.

We were able to set up the loan facility in less than 10 working days.

Are you needing similar short-term commercial finance? Call our team to discuss your options:

And read our blog about business loan finance »