Earlier this year we were in contact with a client who had been offered the opportunity to buy his partner\\\'s share of their IFA business. Whilst putting in a significant amount himself he still needed to raise a further £500,000 to complete the deal. He had already looked at conventional Bank finance but, for various reasons, this had been rejected. He therefore approached BFS to see if we could help.
After due consideration of the facts we recommended that the best route, in his case, would be to make an application through the ThinCats Crowd Funding Platform. As Sponsors we were able to guide him through the process. This involved conducting a hign level of Due Diligence as well as protracted negotiations with his Partner and Lawyers. We also had to ensure that adequate security was in place to satisfy the requirements of ThinCats and their Investors. Whilst this process took some considerable time, the final outcome was successful. The result was that our client was able to draw down the £500,000 that he needed and the buy-out is now being completed.