A firm of accountants in Birmingham referred an experienced client who was in the process of setting up a laser precision cutting business.
He urgently required c.£250,000 both to purchase materials to supply an urgent order to a motor manufacturer in order to complete the company’s first contract, as well as to assist with general business cash flow.
We met with the customer and his business partner within 48 hours and agreed on a personal loan to be introduced to the new company by way of Directors Loan Account.
The loan was secured against the client’s unencumbered home with his wife taking independent legal advice. There are several possible ways that the bridging loan can be repaid including a standard residential mortgage if required.
Bridging loans can release short-term cash flow. Get Started >
Image source: https://en.wikipedia.org/wiki/Laser_cutting#/media/File:Industrial_4kW_laser_with_flying_optics_system.jpg
