Petes Business Needs A Cash Injection
Pete ran a successful manufacturing business along with his business partner John. John had to leave the company at short notice for personal reasons and wanted to sell the business however Pete wanted to continue running it by himself.
Pete came to us for the funding needed to buy Johns shares and additionally to keep the business running smoothly through the transitional period. We were able to lend all the required money to Pete secured on the company’s unencumbered business premises and with an additional charge over Pete’s home. This gave Pete enough time to raise funds through a management buy-in and repay the commercial bridging loan.