Some of the most rewarding cases that we get involved in raising finance for are those where the solution ends up being almost the opposite of where everyone expected it to be from the start. Our London office had one such case recently, where we helped the client to secure finance successfully. Our clients are the proprietors of a well-established business, an architectural practice currently operating from rented premises situated at Old Marylebone Road.
Our client’s plan was to move from their rented premise above, to freehold offices. We helped them secure what they needed, £1,575,000 to complete the purchase of the new offices. We were able to arrange a first charge over the freehold of the office premises which our client (with an estimated value of £2,250,000) was paying £125,860 per annum in rent, and ASC ensured that the cost of servicing the loan would be the same monthly sum.
What was interesting in this case was that the approach the team used to get this favourable arrangement for the client was to get the loan approved in the first instance, before the client had found the property. That meant that he could look for properties with more confidence, speed up the transaction, and thus being able to negotiate the price more assertively.
Giles, ASC London’s Director comments,” This deal really highlights the importance of the knowledge a broker can offer through our service to securing finance for a client’s project. The client would just not have been able to approach things in this way without sound tailor-made advice.”
Is it worth taking a loan to grow your business? Well, that depends on each case. But, in general terms and if your business is viable, funds to help you expand as we see in this case, can mean more space, more employees, and more customers which can be an overall positive step.
Henry Ejdelbaum, MD, comments “We understand that every business is different, and that they all have different requirements when it comes to raising finance. That is why we don’t put our clients through call centres, but rather we offer them straightforward and direct communication with an experienced director. It means we can understand the needs of each small business owner and entrepreneur and can make sure that getting the right finance for them is a piece of cake.”
As with any other financial product, each case is dealt with separately and can be tailored to maximise the outcome. If you think your business may be able to take advantage of this type of financial product, please contact your local ASC office for more details.
For further information please contact:
ASC Finance for Business
Tel: 020 7616 6628
Notes to editors:
About ASC Finance for Business
ASC was established over 50 years ago; we are independent business finance brokers. We have developed a successful track record helping businesses across the UK secure finance by removing the hurdles put in their paths. We have extensive knowledge of the financial products available from lenders and can approach them to help businesses find the right finance for their projects.
Our local directors are highly experienced and have a strong commercial background which will help your business increase their chances in securing finance. ASC enables businesses to have more free time to focus on and develop their business.