Commercial Case study

Client Sector: Food Manufacturing
Type: Unsecured Business Loan
Amount: £100,000

Description:
Our client’s business is based around food manufacturing. They wanted to expand and grow their business and felt that the best way to do this was to start a production line. They had already bought the premises that they traded from and secured the borrowing for this against the building. The finance for the production line, therefore, needed to be unsecured. Asset finance was considered but the client’s circumstances dictated that they needed the money quickly and easily. Using our contacts for unsecured business lending we were able to raise £100,000 quickly and at a competitive interest rate.

What was the deal: Interest rate: 11%

Term: 5 years

How long did it take?
Funds were in the client’s account within 5 weeks of their initial meeting with Fiducia and just 2 weeks from the date that the application was submitted to the lender.
We were recommended to this client by North Kesteven District Council. Following the recommendation one of our Senior Advisers took the time to speak to the clients and get to know their business and objectives for the future so that they were able to accommodate the client’s needs with the correct funding solution.

Client Comment:
“Fiducia were recommended to me and although they are a local business I had not come across them before. Nina Teeder visited me to discuss what the options might be and within a few days she was able to propose several options. We had funding in place very quickly. The really important thing for us was the rapid turnaround from making the initial enquiry to receiving the funding, which was probably just under 1 month and only a few days before Christmas. This has been a huge help to us in terms of keeping the project on track and indeed finishing it at all.”

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