Our client had previously purchased and refurbished several properties which he then either sold or rented out. He spotted an opportunity to purchase a plot of land in Kettering which had outline planning. Having acquired the land he submitted plans for a building comprising three appartments. The ground floor one was to be fitted out for a disabled person including wheelchair access. Planning was granted and our client commenced construction using his own funds. On completion of the basic shell, however, it became apparent that relying on self-funding would greatly extend the build period and add to the overall cost.
At that point he approached a number of banks, all of whom turned down the opportunity. He then approached us at BFS to ask for our help. After a detailed discussion and a visit to the site it was agreed that we would take on the funding project. After due consideration we decided that Crowd Funding offered the best option. We prepared all of the necessary application documentation (including Legals) and submitted the project to ThinCats. We are delighted to say that not only was the project fully funded within 24 Hours but the rate eventually charged was nearly 2% below what our client had indicated that he would accept.
From first contact to drawdown of the funds took only 6 weeks and as a result our client has now completed the project on schedule.