Deal Type: Machinery Investment
Loan Amount: £30k
Loan Type: Reparo
Security: Director and family member’s personal guarantees, debenture over the company.
Region: South East
Reparo was approached by a broker to assess a client that was finding it hard to obtain the funding it needed.
The company was an established agricultural services business with one director that had been operating as a company since 2009. The loan was required to fund deposits on machinery the business was purchasing to expand its product offering.
There were several reasons that other lenders had rejected the loan:
Reparo always take a closer look at every proposition as experience has shown that every business is unique, and there is often a way to find a solution.
In this case, the team went to visit the entrepreneur, and a few circumstances meant they were comfortable providing the loan.
Overall, Reparo had confidence in the entrepreneur and was happy to go ahead and provide lending.
Reparo relationship manager Jason Cossey said: “Initially this proposition didn’t look promising, there were strong reasons why lending was rejected. We always take a closer look, and after meeting the entrepreneur, understanding the business and hearing first hand why some of the adverse events appeared on the company credit file, we were comfortable providing the loan.”
Reparo managing director Andrew Ward commented: “The structure and background was important here – this was an established family business with an open and transparent business plan to move on from short term difficulties. Typically, we will look for solutions like this when most lenders will automatically reject the deal based on rigid criteria.”
To discuss a loan of between £10,000 and £1m, please get in touch with one of the team on either firstname.lastname@example.org or 0161 451 5710. You can find out more about us on our website: www.reparofinance.co.uk.