Record-breaking deal goes live

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  • July 9, 2018

This F&P client develops specialist care homes and has borrowed over £16m in a series of P2P loans since 2014. £15.5m of those loans have now been repaid. With the support of F&P and having established an exceptional reputation amongst lenders, new funding options were identified for this client, and a record-breaking £9m loan has now been arranged as a result.

As a property developer specialising in care homes for those with special needs, each phase of development in previous projects had been funded by a separate P2P loan. Now, having outgrown P2P funding, Rupert Vaughan, F&P Relationship Director, identified a new, accessible funding strategy for this client which has packaged funding for four separate projects into a single, easily managed loan.

Extensive Lender Network
Tapping into the diverse lender network that F&P Director Ivor Freedman has built over many years, the client was introduced to a new capital funding source and the £9m loan was agreed, surveyors reports approved and initial funds drawn down. The new lender was impressed by our clients own profile; a well-established, astute and reliable borrower from the North West of England with a glowing reputation. Post-development, the client retains his properties when they become operational care homes, leasing them back to a Housing Association. Residents of these specialist care homes, for example, are not elderly, meaning tenancies can run for many uninterrupted years. There is even a significant waiting list with local authorities of residents waiting for these specially configured homes to become available.

Another care home under construction

Reduced Interest
Rupert Vaughan worked closely with the client and lender, ensuring all the necessary case information was verified, compliant and presented appropriately. With the new loan now in place, Rupert is still very much involved, and will be supporting the client and managing the case throughout the term. The client meanwhile, benefits from a lower interest rate than earlier P2P arrangements. The successful completion of the previous P2P loans however, helped F&P to facilitate this loan. Only having established such a positive reputation, were we able to look at more funding options for this client and deliver previously unattainable funding opportunities and benefits.

If you seek business funding, in the first instance contact Rolly Bakshi, Head of Business Development at F&P on 020 7433 3631. He will be able to assess your case being mindful of your needs, and proactively explain the options that are most suitable to meet your business objectives.

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