Lime Consultancy came to Nucleus with a client in need of funding. It was a challenging scenario: the client wanted to sell one of their properties but needed to complete renovations on the property first. To do this required capital – which they wanted to access from the property itself.
“Our client needed a fast and flexible way to access funding,” explained David Farmer, business lending specialist at Lime Consultancy. “We knew that an alternative approach would be best: traditional banks invariably have a longer turnaround time and we needed a quick solution.”
The client planned to use the rent they earned from their tenants to service the interest for the loan – with the property held as security. The money from the eventual sale would be used to pay off the debt.
“It was a complex two-year bridging loan that had the potential to fall over for a number of reasons,” continued Farmer. “Ultimately though, we had a quality client with a solid proposal and a supportive lender that understood the urgency.”
Paul Fenton, Nucleus sales director said: “This was an exciting deal and one we could deliver on quickly thanks to our dedicated in-house experts who understand the challenges small business owners face. Lime Consultancy made the deal much simpler for us by delivering all the client information we needed for the underwriting process in good time. They also reassured their client that our services stand head and shoulders above the rest.”
“There is a big difference between lenders working with you and lenders who work via brokers,” concluded Farmer. The team at Nucleus shares our drive and ingenuity to get the deal done. This takes experience, commitment and some innovative thinking to overcome the challenges and barriers that invariably come up in the SME sector. I'm happy and the client is happy: you can't ask much more from your relationship with a lender than that.”