Mr and Mrs H – Southend-on-Sea
- Development & Bridging
Mr and Mrs H were given the opportunity to buy an established food business. After trying to raise the capital from their high-street bank our clients established that they were unable to obtain finance by traditional means – their existing Lender wanted to see income, which was of course dependent upon the new business start-up. Weston Financial’s solution was to assist in raising £50,000.00 working capital for the business as a second-charge commercial bridging loan – with 12 months interest retained at day one. This gave our clients the ability to focus on their new business venture over the 12 month period, allowing remortgaging with their existing provider as a suitable exit-route.