Refurbishment of a Barn into a Business Centre

A successful farmer saw the opportunity to diversify by creating a Business Centre on his land. He needed £200k to refurbish the premises, and he was sure of a rental income of £50k per year.

While his recent accounting performance compared to loan size was modest, the increase in revenue gained through the refurbishment would be enough to repay the facility.

£200k Business Loan to finance refurbishment work, repayable over 5 years.

Dennis Double from Business Finance House brought this deal to Asset Advantage as it required a commercial understanding of the client and their plans. The accounting performance compared to loan size was modest, but it relied on understanding the client’s future plans.

The client himself was also not of a profession which other lenders would easily fund. He was a farmer, moving into creating a business centre.

This deal relied on Asset Advantage listening to the proposition and understanding the customer’s future plans.

Dennis Double said: “I was very impressed with the decision turnaround, clear route to completion and effectiveness of all staff involved.”