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6th March, 2018
The bridging loan itself enables our client, Jordan Inc Limited, to replace the existing lender and leads directly into the next stage of a larger project to acquire a commercial property portfolio. Fiduciam have also committed to provide additional funding to assist on this further acquisition, which is targeted for later this month.
CS Finance worked closely with Forward to present the opportunity and selected Fiduciam from a range of potential lenders. CS Finance are a leading commercial finance brokerage helping to secure funds for clients across the UK and Ireland.
Fiduciam grants business bridging loans to entrepreneurs of small and medium-sized enterprises, to provide them with working capital or to finance their expansion plans, securing their facilities on property, other real assets and receivables. To date they have lent nearly £100m to the SME sector.
Rob Dukelow-Smith from Forward Corporate Finance commented, “It has been the flexibility and sheer determination of Fiduciam to complete the deal, that has enabled us to assist our client with his plans. Fiduciam’s ability to grasp the whole project and understand our need, along with how they can invest and how they can exit has been extremely valuable.”
The refinance has been completed in 30 days from the initial meeting with Fiduciam, to draw down of funds. This timeframe was exactly as discussed with Clint White of Fiduciam and Chris Croke of CS Finance, both of whom have had instrumental roles in managing the process and completing the deal.
Thanks also have go to Matthew Grindley and the corporate team at Birketts LLP representing Jordan Inc and to James Goff at Keystone Law acting for Fiduciam.