The Situation
It can be difficult to grow organically in the property lettings sector.
This encouraged the owners of a cautious but ambitious franchise company in the sector to seek acquisition finance to buy a second franchise to expand their business.
The Funding Solution
Business Acquisition loan of £400,000 on a 5 year term.
Why Asset Advantage?
Michael Bolland of Mill Wood Finance said “Asset Advantage are the only lender I know who would do a deal acknowledging the full value of a fully managed property portfolio. When underwriting they consider a lot more than the balance sheet net worth of the applicant, or the bricks and mortar security on offer.”
This unique ability Asset Advantage has to understand and acknowledge the value of a fully managed lettings portfolio enabled the franchisees to borrow a higher value than they were likely to have received from another lender.
Michael Bolland also praised the fantastic team in the Asset Advantage new business department, of keeping him clearly informed of the process every step of the way – helping him manage his clients’ expectations.
Key Facts
Finance Type
Business Loan
Amount Financed
£0
Summary
“Asset Advantage are the only lender I know who would do a deal acknowledging the full value of a fully managed property portfolio. When underwriting they consider a lot more than the balance sheet net worth of the applicant, or the bricks and mortar security on offer”
Term
5 Years
Purpose
Business Loan For Acquisition Of Property Lettings Business
