Together and Synergy Commercial join forces to provide £2.5m commercial bridge.
Specialist lender Together and Synergy Commercial Finance have teamed up to help a client pay an unexpected HMRC tax bill of £2.5million.
The customer had just four weeks to pay the surprise bill to avoid any further costs. With the deadline looming, Synergy Commercial approached Together with the complex case.
Together, the Cheadle-based lender and Synergy commercial were able to arrange the £2.5m commercial bridging loan, which was completed against seven different commercial assets. The loan was swiftly completed thanks to the diligent efforts of both parties and the valuation expertise provided by chartered surveyors Eddisons.
Thanks to the fast and efficient work of Together, Synergy and Eddisons, the customer received the funds by HMRC’s deadline, and was able to pay the hefty bill on time.
Kara Williams Regional Account Manager for the North said: “This customer came to us with an urgent deadline to pay of a hefty £2.5 million bill. Many other lenders would have been deterred by the quick turnaround needed on the application, as well as the large sum needed.
“We were able to offer the full funds needed for the customer to pay the bill on time by securing the loan across seven commercial assets, meaning they were able to avoid any further costs or action from HMRC.”
Piotr Twaits, Managing Director at Synergy Commercial Finance said: "This customer came to us via one of our introducers and had an urgent deadline to meet their HMRC requirement. Based on our experience, we knew that Together would be the ideal funder for this deal both in terms of credit appetite and turnaround.
“They were able to offer the full funds needed for the customer to pay the bill on time, meaning they were able to avoid any further costs or action from HMRC,"