£13 million commercial loan helps Turkish wholesaler chain refinance and reinvest.

With their existing term loan due to expire within weeks, a long‑established Turkish wholesaler serving European and Mediterranean communities across the UK needed to refinance a complex facility secured against their main warehouse and offices.

Their long-standing bank declined their £13 million request, leaving the business without the funding needed to restructure its outstanding finance and invest in essential equipment upgrades.

The ask

Given the tight timescales and the complexity of the corporate structure and property setup, the client needed a lender who could move quickly, understand the nuances of the case and support their future growth plans. They approached specialist broker Crystal Specialist Finance to source a long-term funding partner who could deliver.

“Finding solutions is what we love at Crystal. The borrower needed funding quickly to support their growth and cost‑saving strategy, so clear communication and close coordination across all stakeholders — including valuers, solicitors, and the wider team — were essential in navigating a complex transaction and agreeing a well‑structured finance package,” David Parke, lending manager at Crystal explained.

“The client’s long‑standing banking relationship had shifted due to a change in appetite, leaving them seeking a lender who could support their evolving needs and future growth. After carrying out market due diligence, it became clear that Together was the right long‑term funding partner.”

The enablement

With no time to lose, our team began extensive due diligence, carrying out detailed property and valuation assessments alongside analysis of the business’s finances and corporate structure.

The main security, a large multi‑use warehouse, was occupied by several companies within the client’s group. Combined with the layered corporate structure and intricate intercompany arrangements, this added complexity that we needed to work through to confirm the property was a viable form of security.

This detailed groundwork allowed us to fully assess and understand the more complicated aspects of the case, meaning we could progress the application quickly. We worked alongside our partners at Crystal throughout, ensuring clear communication at every stage and giving the client the certainty they needed as the deadline approached.

The outcome

The £13 million commercial term loan was completed within the tight timescale, allowing the refinance to take place without the client incurring any penalties from their existing lender.

Emma Goodyear, Senior Corporate Underwriter at Together, said: “A deal of this scale and complexity clearly demonstrates Together and Crystal’s ability to deliver for brokers and their clients when it matters most.

“By working collaboratively with all parties and adopting a bespoke, solution led approach, our team and Crystal were able to overcome the challenges and deliver funding within a demanding timeframe, while effectively managing risk. Cases like this are a key part of what we offer at Together.”

Our new Premier for Intermediaries proposition, led by director Dan Narwal, provides a specialist concierge service designed to support brokers managing larger and more complex cases of £1m+. The service offers dedicated case management and bespoke underwriting and is available across the full range of Together’s commercial and personal finance products.

For specialist support on cases over £1m, visit our Premier for Intermediaries page to see how we can help.