Case Study: Business Loan Saves Farming Business

Injection of new cash helps farm refinance existing debt

We were contacted to help source and secure funding for a farming business.

The Problem

The company was in need of finance to repay an outstanding loan of £40,000 and also to clear £45,000 of HMRC tax arrears. The company owned a property valued at £1.5m, which had an outstanding commercial mortgage of £370,000 secured against it. The bank agreed for the valuation to be made available to potential lenders in order to help with the application for further funding.

“Called for help with closing non-trading companies and Chelsea advised me on what to do and instead of taking advantage as others would by taking on the case and charging loads. She gave me a solution that would cost £20. Very pleased with the service and thankful for Chelsea’s advice.”

AB

 

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Chelsea Williams
Business Debt Expert

The Solution

Within a week we had successfully received offers from three different lenders, and these were put forward to the business owner for consideration.

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The Result

Once a decision was made regarding a provider, we finalised the application. The provider that was eventually chosen offered a loan of £105,000 to be paid back over a twelve-month period with the interest rolled up for the first six months.