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Client raises £53k on an unsecured basis to fund a commercial unit in Scotland

A commercial finance case study

Objective

The client wanted to quickly raise £53,000 to purchase a commercial unit in Scotland for his business.

Obstacle

Due to the location and the low loan amount, the client was struggling to find a lender that would fund the purchase, let alone provide funding quickly. One high street lender expressed an interest in the deal, but the process was too long and so the client approached Brightstar, asking us to source a quicker solution, even if it meant paying a higher rate.

Outcome

We approached an unsecured lender and, from placing the application on the 15th April we were able to draw funds by the 26th April. This meant that, although the client was paying a higher rate, he didn’t have to wait for valuation or legals to complete. Both the client and the introducer were extremely happy with the result and left positive feedback on our Trust Pilot profile.

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