Helping a growing professional practice establish new offices.

Our client established her own architectural practice about 18 months ago. Initially operating from home, the business enjoyed strong growth, and an office was needed to accommodate new staff.
Rundown former retail premises were purchased that were ideal to convert into a new town centre office. The property also had space that could be let to several other small businesses.
The property was in a poor condition and required significant refurbishment throughout but unfortunately her own bank was unable to provide the necessary funds to complete the scheme. Having run out of cash, our client was unable to pay the builder who walked off site – it looked like the project might have to be put on hold.
The customer was introduced to Key Commercial Finance, who were quickly able to source a loan of just over £50,000 to cover 100% of the remaining build costs plus fees and rolled up interest.
Although the valuation was well below expectations LTV, at 56% of estimated post completion valuation, was still acceptable to the lender.
On the back of an offer of finance, the builders re-commenced work and the loan was drawn only 5 weeks after our initial meeting.
Our client is looking forward to moving into her new office before the end of September and potential tenants have already been lined up to move into the other space.