When the client was unable to seek finance through traditional lenders due to the short-term nature of the loan required, their broker Loan Warehouse introduced HFBS.
The specialist lender was able to use the client’s main residence as security by way of a second charge to ensure the business did not lose additional revenue.
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Ian Broadbent, director at HFBS, said the short-term bridging of two to four months was desperately needed to make sure that the business didn’t lose further revenue.
“However, by the client’s own admission, their credit profile wasn’t ideal and they were using an inhabitable property as security – no conventional lender would agree terms on that basis.
“Personal loans would put a strain on their cash flow, which was already an issue as the business is a main source of their own income.
“After meeting the client and agreeing security against their home, we were happy to provide a short-term solution to their cash flow glitch.”
Matt Tristram, co-founder and director at Loans Warehouse, added: “We’ve offered bridging finance for many years now and in all that time no other lender embraces the true ideal of bridging, speed, simplicity and flexibility like HFBS.”
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