We helped a businessman meet his Christmas orders
The Challenge
Our clients are well-established business owners, who wanted to borrow £52,500 to assist with the manufacture of 60,000 units of jewellery.
They have more than 20 years’ experience in the jewellery industry and provide bespoke jewellery throughout the UK and Europe. They required quick access to finance to ensure they could meet pre-Christmas orders.
The Solution
Kuflink secured the loan against two properties by way of an Equitable Charge. Both properties are detached residential homes located in the London Borough of Harrow and have a combined open market valuation of £3,190,000. There is an outstanding mortgage on both properties and taking these into account, the LTV is just 27%.
The client’s exit strategy is to repay the loan from the sale of the jewellery to various retailers.
Deal Breakdown:
Funds required: £52,500
Loan duration: 6 months
LTV: 27%
Security: Two detached residential properties located in the London Borough of Harrow
Charge: Two Equitable Charges
90 Day Valuation: £3,190,00 across both properties
Why our client chose Kuflink
The introducer knows Kuflink well and is aware of the fact we are willing to be flexible and go the extra mile to help our clients.
