Deal Type: Working Capital
Loan Amount: £30k
Loan Type: Fast Track
Security: Personal Guarantees, property
A small consultancy that specialise in managing construction projects approached Reparo for a £30k loan to cover the working capital required to finalise a small build.
The company was working on a construction project and needed working capital to finish; it was slightly over budget and capital would help avoid expensive delays.
The directors provided personal guarantees and property as security, the building being worked on was viable security because it was watertight, and the last part was only cosmetic.
In spite of personal guarantees and the property available as security, the business was concerned about obtaining bank funding. There were a few issues:
As well as being flexible with security, there were other reasons why Reparo became comfortable with the loan:
Reparo relationship manager Jason Cossey said: “We had built up a good working knowledge of the company so when they approached us for a loan it was easy for us to complete due diligence, and were able to complete the loan in a few days”.
Reparo managing director Andrew Ward commented: “Traditional lenders may have approved the loan, but it would have taken a long time and the business didn’t have that luxury. Because we had built up a relationship with the directors, it was very easy for us to take a look at this application and approve it”.
The client had this to say about Reparo Finance: “They really get it – it’s great to talk to a professional that actually understands the needs of our business. Reparo’s speed and efficiency is a breath of fresh air in the modern world of business finance”. To discuss a loan of between £10,000 and £1m, please get in touch with one of the team on either email@example.com or 0161 451 5710. You can find out more about us on our website: www.reparofinance.co.uk.