We are in the process of completing a substantial commercial development loan to a long-established retail business in the food and beverage sector. The business has a long successful track record but found that it had outgrown its existing site. The existing mainstream lender was unable to assist with the development funding as it was considered a ‘start up’ as the footprint was significantly larger despite over 25 years successful trading.

We took a more pragmatic approach given the established history of the business and have agreed a 12-month development facility, with an additional two-year term to allow trading to be established and reflected in the Annual Accounts. This flexible approach will assist with the goal of refinancing to a mainstream lender once it is deemed to have been ‘de-risked’.

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