Scottish carpentry company relocating due to rent increase

Time-critical finance:

Term: 5 years
Amount: £70,000
Feature: split drawdown

Increases in their rent charges meant that an established Scottish carpentry business needed to raise funds to purchase the lease of a new unit. They required an initial £30,000 to secure the lease and move to the premises. Then at a later date they would require further funds to enable them to build a new showroom for their customers to visit.

Outcome

Accredo was able to provide the company with the full £30,000 for the lease and then, when they were ready a few months later, a further £40,000 was provided, enabling them to create a fantastic showroom to showcase their work for potential customers.

Because the key paperwork was signed at the beginning, the second drawdown was done in 48 hours.

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We provide secured business loans from £25,000 to £1,000,000 specialising in solutions for new-starts, difficult credits and established companies. We lend against residential, commercial, mixed-use and buy-to-let property. 

We aim to give decisions in under three working hours. Our repayment terms are from 3 months to 10 years. And we offer fixed repayments or flexible terms such as seasonal payments, payment holidays and interest-only.

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