Robert Harrison from ASC in Merseyside, has been a commercial finance broker for many years. We asked him about the deals he was most proud of.
One which stuck out was a particular client he helped raise finance for. The client was introduced to Robert through her accountant and had always thought of taking the next step and running a B&B always felt like the right choice for her.
Unfortunately, the client did not have any experience in the B&B industry – something which a lot of lenders value. Without this it was going to prove to be difficult to get a lender to support the application.
Through their conversations however, Robert discovered that she was a successful business owner with a track record – albeit in a different industry. Not only had she owned a cleaning company for many years, but she was planning to offer cleaning services from her other business to the potential new B&B business. Based off this, Robert put together a strong application, centred around the fact that the client was used to dealing with the public through her cleaning services business, and most of B&B’s work involves cleaning and customer service, and she had the projections and additional income to make the deal work.
In the end, the bank was able to get comfortable with the numbers and we were able to secure the finance. “Our client is now successfully running her B&B for over five years, it’s gone from strength to strength”, comments Robert, and he couldn’t be prouder.
We are often approached by clients who don’t know the options available to them, which is where ASC can provide value to clients, regardless of the size of their project. Get in touch with your local ASC office to secure finance for your projects.
