While banks can be an appealing mainstream source for acquiring funding, they also have their drawbacks, with many proving more expensive and less reliable than smaller providers.
We were recently approached by a client who discovered this for themselves. They had been let down by a major bank, who had withdrawn the construction company’s overdraft, leaving them without the means to pay their staff and complete the job at hand.
After arranging a valuation of the half-finished houses that the company had been working on, our brokers were able to source £45,000 in finance which allowed the company to keep their cashflow steady and ensure their employees wages were paid on time. In addition to this, we also arranged development finance which enabled the clients to get back on course and complete the build.
If you’ve been let down by a lender, please don’t give up hope. Give us a call today, and we’ll get you back on track.
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