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We arrange funding for the construction of a number of flats…

We arrange funding for the construction of a number of flats…

A Leicestershire based client needed our help with the property development of a block of new flats valued at £3m.

 

As we were still in the middle of a pandemic, the client was looking to utilise the government’s Coronavirus Business Interruption Loan Scheme (CBILS) and raise £2.25m over a 24-year repayment time-frame.

After speaking to the customer and a number of our funders, we raised an actual total of £4.35m, with the additional funds being used to support the next project, with no early repayment charges for the debt.

Under the scheme, the loan was offered with the first 12 months’ interest covered by the government, which mean that the developer would save £150,000 in year 1.

Our specialist property team worked closely with this customer to understand the development project and had to overcome several funding obstacles.

In the end, the customer was happy with the deal, and our property team was able to restructure other existing property portfolio repayments, further reducing monthly repayments by around £46k per annum.

To find out how we can help your business like we did here, emailinfo@maffinancegroup.co.uk, call 0115 958 6872 or fill in an enquiry form below.

 

 

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If you’d like to get a quote or need further information, simply fill in the form and we’ll contact you on the date and time that you request.
 

If you’re having trouble submitting the form, or want to speak to someone directly, you can call us on
0115 958 6872 and a member of our team will be happy to speak to you.

Alternatively, email us at info@maffinancegroup.co.uk.