<
p>London Bridge plc has had a flying start to the year with a £750,000 first charge completion on a database storage centre.
The owners of the site had been struggling to find a loan, having been turned down by several companies already.
They needed a loan to pay off a first charge, give them six months of working capital and for light refurbishments.
However, London Bridge were happy to proceed as, having reviewed the case, they felt the plans made good business sense.
It was unusual in as much as it relied on an ongoing contract with BT as its covenant to give it the value it needed.
The family owned Principal Lender prides themselves on being able to look after these sorts of unusual cases and work closely with brokers to complete the loan swiftly.
CEO of London Bridge PLC Anthony Wall said the firm was pleased to complete the loan so the clients could enjoy the Christmas and New Year break in peace.
“We were very happy we could assist the owners of this centre with this loan.”
London Bridge Plc has had a flying start to the year with a £750,000 first charge completion on a database storage centre….
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