Business Finance in Kent
8 Cross Lane
Business Finance for Business People
I am a commercial finance broker in Kent and I work from an office which is based in Faversham. I have over 20 years’ experience in raising commercial, business and property finance for small businesses throughout the Kent region. I have assisted clients with raising business finance areas such as Swanley, Dover, Canterbury, Maidstone, Medway Towns, Tunbridge Wells, Thanet and Ashford.
My client base is diverse and I have facilitated the acquisition of business finance for SME owners covering a whole spectrum of businesses including retail, distribution, manufacturing, property development, professional services, leisure, farming and horticulture. Every commercial loan or property investment loan we deal with is different, but what remains static is that the cornerstone of the ASC philosophy - that every Regional Director including myself is personally responsible for you, and you will always benefit from straight and direct communication.
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I am a Chartered Engineer by profession and prior to joining ASC as a commercial finance broker I gained extensive management experience at Director level in manufacturing and processing industries.
My experience in assisting SME clients to obtain business finance over the years has helped me understand the needs and requirements of business owners in Kent and also helped me to under that every small business is unique. This means that by dealing directly with me you can benefit from my commercial background, experience and local business knowledge.
In the past twenty years I have been a finance broker concentrating solely on raising finance for businesses.
I will assess your business finance requirements and approach lenders on your behalf so you can concentrate on what you do best which is of course running and growing your business.
On a personal level I am a long serving chair of governors of an outstanding primary school, and I am treasurer of Canterbury Forest of Blean Rotary Club.
Business Finance I have assisted clients with already
- Finance raised for a local real ale pub to purchase the freehold.
- £400,000 loan for a document storage business to move to Sittingbourne
- £350,000 raised on a commercial investment property to purchase another property.
- £55,000 for renovation of a convenience store and post office
“We were under time pressure to raise finance having successfully bid on a commercial property at auction. David was able to secure funding for us in the time required”
– J. Pasha
“Time and time again, David has assisted us in raising property development finance. He always seems to know which lenders are willing to provide the right finance for each specific deal”
– S. Ahmed
“I should like to thank you for the swift resolution in this matter – puts the banks to shame!”
– T Palmer
ASC to the rescue!
In May 2011 ASC were approached to raise finance for the renovation of a convenience store and post office. The redesign would allow for a new layout to maximise shopping and help the business contend with a local competitor.
After the client had been rejected by their bank they met with David Milham from ASC Faversham, who immediately began to search for a lender that would entertain their project.
David, communicating with his client’s accountant, prepared detailed projections for the bank which were presented in order to gain £55,000 for the project to begin.
David secured the loan for his clients who were only to appreciative: “It goes without saying that I am extremely grateful to David and ASC Finance for finding and obtaining this loan on our behalf, it seems a long time ago since I came to see David in your office on that very hot last day of May, but somehow we have made it.”
We wish them every success with their renovation and future business. In the meantime, David and ASC will continue to do what we do best – sourcing the right finance for our clients business.
Overcoming the hurdles of commercial finance one by one
Mrs Kebing Walsh ran a Chinese herbal centre, and found the opportunity to purchase a freehold organic food shop to expand her business. She approached David Milham, of ASC Finance Kent to help her secure the required finance to complete the purchase.
Initially, the deal was progressing smoothly, with a suitable lender found and favourable terms agreed. However, the valuation of the property came in lower than expected, which meant that the lender was not able to commit to the orignial amount.
Fortuntely, David had seen similar cases before - through a combination of negotiating with the lender and the vendor, he was ultimately able to secured £80,000 to enable Mrs Walsh to complete the purchase, and begin the task of growing her business.
"“Many thanks to you and your wonderful team! I surly will recommend you to people who are seeking for help.”
Pension fund used to buy school premises
Concorde International Ltd is a well established English Language School in Canterbury, offering courses to overseas students from Europe, the Middle and Far East, China and Japan. In January 2008 owner Colin Stone discovered that the property they leased within the city walls was likely to go up for sale. A listed building, the property was owned by a family trust and needed considerable renovation. Colin met with David Milham at ASC Finance for Business’ in Faversham to discuss his finance options to buy the property. Sales negotiations with the vendor’s agent were protracted because they believed a higher price could be achieved with change of use and in the autumn with no deal confirmed, Colin checked that funding would still be available as the credit crunch was starting to bite.
At the end of January 2009 his offer was finally accepted and he asked David to raise the funds. Colin had built up a significant pension plan and the SASS trustees also agreed to support the purchase. HMRC rules permit borrowing of up to 50% of a pension fund value to finance the purchase of commercial premises. In spite of the constraints in the commercial funding market, David obtained acceptance from three potential lenders. Negotiations were concluded with one of the few building societies still offering commercial mortgages. Terms were agreed at Bank Base + 2.75% (minimum pay rate 3.75%) and the facility was released in two parts: one for the purchase, and the balance of £50,000 for the renovation works.
Colin said ”We were extremely happy with the service provided by David and ASC, who guided us through the arrangements with care and patience.”
The bank manager said "No" ... ASC were able to say "Yes!"
Thomas Palmer owned and managed a well-established temporary staffing agency in Kent. When he required an unsecured business loan of £40,000, he approached his local High Street bank. Three weeks later, they had made no progress – the bank was unable to say "yes", even though they had an unencumbered £1million house which was offered as security.
Thomas then approached a financial advisor, who was able to refer him to David Milham of ASC Kent. After an initial meeting to discuss the business and the finance options, David was able to obtain the necessary finance for the business – and have the money in their bank account only seven days later, much to the delight of Thomas who was able to then concentrate on the running of his business.
As the client wrote “I should like to thank you for the swift resolution in this matter – puts the banks to shame!”
OUR SUCCESSFUL TRACK RECORD
An experienced property investor was struggling to raise finance of over £2million to purchase a commercial property in central London, which comprised of 7 flats and offices on the ground floor. The vendor was insisting that the contracts were exchanged before they were able to fit out the flats, and as a result the buyer was finding it difficult to raise finance as the property was vacant.
Fortunately, the investor was referred to his local ASC director, David Milham.
Using the strong relationships which ASC Finance for Business has built up over the years, David was able to source funding from a lender which was prepared to advance funds before the flats were let. Indeed there were further delays of several months before the work was completed, so without the assistance of ASC, the project might not have been able to go ahead.
We focus on arranging finance for your business...
so you can focus on running your business
It is easy to contact me because I work in the way which works best for you
Goodspire Limited trading as ASC Finance for Business 8 Cross Lane, Faversham, Kent ME13 8PN
ASC is a National Association of Independent Business Finance Consultants operating under licence granted by ASC Partnership PLC.
Registered Office: 8 Cross Lane, Faversham, Kent, ME13 8PN. Registered in England No. 2844024.
Authorised and Regulated by the Financial Conduct Authority (Registered Number 300510) in respect of regulated mortgages and credit broking only.