£1.85m bridge loan finance was facilitated by Synergy
When we were introduced to Arcot Grange Developments Ltd, who were seeking funds to acquire and develop a partially built residential site in Cramlington, near Newcastle, we had no hesitation in discussing these requirement with Roma Finance Ltd. Thanks to Roma’s extreme professionalism and their extensive funding base, along with the diligence and expertise of the Synergy Commercial Finance team based in York, between us we were able to meet all Arcot’s needs and in the process were able to broker bridge loan finance totaling £1.85m. The largest ever loan provided by Roma.
Arcot Grange Developments were originally the contractor on the site, but when the site owners got into difficulty Arcot had the opportunity to buy it and complete the building work. This included firstly acquiring the site and then completing three high quality barn conversions. The site also included an additional seven building plots, which Arcot intend to develop in the future.
To help them acquire the necessary finance for the site and the barn conversions Arcot were introduced to the Synergy York office team, who in turn contacted Roma to discuss the best and most affordable ways of arranging the required funding.
For such a large and complex funding requirement, it meant that the Synergy and Roma teams had to work extremely closely together in order to structure the very best deal.
Heading up the Synergy operation was Business Manager, Chris Blackwell, while his counterparts at Roma were Business Development Manager, Simon Micklethwaite and Senior Underwriter, Samantha Williamson.
Working closely as a joint team who were determined to provide the financial solution required, Synergy and Roma came up with a bridge loan finance proposition that met every one of Arcot’s requirements. It provided the level of finance support required along with the kind of competitive terms that were immediately acceptable by our client.
Thanks to the provision of the £1.85m bridge loan finance package it meant that Arcot now have all the funding they require not only to purchase the site but also to complete the conversion of the three barns.
Also thanks to the terms we were able to negotiate along with Roma Finance, the bridge loan finance will now be repaid from the sale of the barn conversions.
Everyone involved in this complex funding process worked extremely hard and demonstrated an excellent level of professional ability and inter-company co-operation in order to structure such an affordable bridge loan finance deal that was acceptable to everyone concerned.
We would like to thank Arcot Grange Development Ltd for providing us with the opportunity and we would also like to pass on our genuine appreciation to the people at Roma Finance Ltd for their professionalism in arranging and providing the necessary finance.
Finally, we would like to complement the Synergy York office team for their diligence and endeavour in facilitating this complex case to everyone’s complete satisfaction.
If you are seeking funding for any type of commercial finance requirement, please speak to us to discover how we can be of assistance in helping you turn your plans into reality. You can call us on 01904 481 786. You can also email: firstname.lastname@example.org or you can send a message using the online form on our Contact page.