A well-known British rugby star has secured a £770,000 bridging loan from Bridging Finance Solutions to help get his new business venture underway.
The hugely successful ex-England and Premiership rugby professional, who’s still involved in the sport today, has begun to further explore new pursuits as he approaches full retirement, requiring a cash boost to kick start the enterprise.
Steve Allen of Bridging Finance Solutions explained: “This recent case demonstrates how versatile a bridging loan can be. This client needed to raise funds quickly for a new business venture and was faced with challenges due to the pressing timeframe and a broader reluctance by high street lenders to offer support.
“This was a difficult deal for several reasons. As with many people, income streams had declined during Covid-19; the property did not meet the value that was expected and there was a pressing need for speed of completion. However, we once again managed to meet all objectives and overcome all obstacles by working together and taking a completely independent view of the deal.”
Steve added: “People often associate bridging loans with property, yet they can be utilised for almost any situation where funds are needed quickly and traditional lending streams are difficult to access.”
The client has now been able to begin work on the new enterprise and aims to repay the bridging loan in full during the coming 12 months.”
