Deal type – Working capital.
Client – Residential property investor.
Location – Glasgow.
Product – Unsecured SME loan.
An existing client introduced us to a ‘new to business’ client seeking insight and help when they were in need of short-term capital. This was to assist with the funding of soft costs in relation to a new property venture.
Mark Reidy met with the clients one day after introduction was made and, after a detailed fact-find and requirements analysis, introduced and explained to them a new to market unsecured lending product they could utilise to see them through this early phase.
The client was a well-established, family run business with decades of trading experience and excellent credentials. They engaged Conduit Finance to act formally on their behalf on the 27th of October.
Mark and Jenny then worked together behind the scenes to deliver robust heads of terms to the borrower the same day.
Jenny then gathered detailed client information and supporting documentation, enabling her to complete the lenders application process. A conditional offer was then received six days later from the lender.
On November 7th, the same day the conditional offer was issued, the application was formally approved by the lender credit team and the loan was fully funded via the lending platform. Drawdown happened just two days later.
This is remarkably fast funding. Our client is extremely pleased with the process and outcome.
Our client said;
“Having being in the property business for over 45 years we have spoken with many financial brokers and without question Conduit Finance is one of the best we have dealt with.
We found your approach and assessment wasted no time with a most professional back up and solution within a few days, your offer was backed up with action and results, we would have no hesitation in recommending you services elsewhere”
Mark Reidy and Jenny Taylor delivered this facility for the client. If your business could benefit from such funding, please contact Jenny
0131 564 0172