Keeping it in the family.
We provided a £37,670 loan to enable a customer to save her late father’s company.
Key facts
| Loan type | Amount | Loan-to-value ratio | Introducer |
|---|---|---|---|
| Commercial loan | £37,670 | 42% | Clever Lending |
The challenge
A daughter was looking to save the family business, built up by her late father. Having inherited her dad’s business, which had been his ‘pride and joy’, she was determined to make a success of the company but needed funding fast to deal with some existing debts. She was introduced to Clever Lending by her mortgage broker, to boost cash flow so she could realise her plans for the company.
The solution
Knowing our reputation for speed, Clever Lending brought the capital raising case to us and, working in partnership, we provided a loan of £37,670, secured against commercial property, so the customer could progress with her plans to take over the business.
The result
Sonny Gosai, head of specialist lending at Clever Lending, said: "Thanks to our relationship with Together and their flexible approach to lending, we were able to help keep alive a client’s dream of keeping her father’s business in the family."
Although we endeavour to lend within the shortest possible timescales, this is not always achievable in 100% of cases.