Deal of the Month
21st January 2019
Our regular updates will include a summary of a recent successful high quality loan application. If you have clients in similar circumstances, we would love to have the opportunity to help!
One of the many recent Newable Business Finance loan applications we received from one of our introducer partners was from a business who specialise in creating workplaces for businesses. They manage the whole project from concept stage to final completion.
How we helped
The client has a near thirty year track record and has recently won a large seven figure contract which is expected to create between 10-15 new jobs.
The applicant’s revenues had increased to over £5m per annum at the time the application was made with profits increasing sharply in the most recent financial year. The latest balance sheet showed strong tangible assets and EBITDA showed that the requested loan of £150,000 over 5 years could comfortably be serviced. Furthermore, the bank statements provided in support of the application showed a well conducted account which operated in credit and the directors were property owners with considerable equity available.
Newable was therefore delighted to support this application subject to the personal guarantees of the directors.