Finance for the purchase of a pub
In one of the hardest hit industries, with ever changing Covid-19 regulation, we are striving to help clients to become financially stronger.
With robust plans in place to conquer the adversity and responsible finance measures to drive these plans forward our clients can secure a future in the hospitality industry come what may.
In this case study, we successfully arranged finance for a client in the South West of England wanting to purchase a Freehold pub with letting rooms. The pub is a retirement sale and is a well established ongoing concern with great trading figures. The clients have a lot of experience within the hospitality trading sector giving them the ability to evidence they can run a business to lenders.
Due to the recent lock down and how the hospitality sector has been affected the main high street banks are opting not to lend in the sector at the moment therefore clients benefit from approach Genie Lending because we have access to a specialist product for the hospitality sector. The product enables clients to purchase a Pub on a short term loan, whereby interest is retained for the first year, meaning no payments are required for the first 12 months. After this, interest is paid monthly for another 12 months.
This product enables the clients to focus on the business without the worry of having to make payments early on and build up positive trading experience for when the lenders re-open. It will also open the clients up to more specialist lenders as they will have a track record in running the pub behind them. There are no early repayment penalties at any time, so if they find the hospitality sector is not for them and they want to sell, or the lending market opens sooner and we can refinance to a term loan they will not be penalised. The product is available at 60% Loan to Value.
These types of business loans can be arranged within a very short time frame to get your pub or restaurant up and running will all that it need to comply with the ever changing Covid19 regulations.
If your business has found funding difficult to obtain you can trust Genie Lending to go to every extent to provide the correct finance quickly, for the result you want. As well as the household names in the industry we have access to proven lending sources who you will not find on the high street. Our aim is to help UK SME’s obtain funding for all their business requirements, whether that be growth, acquiring premises, paying HMRC liabilities or simply working capital. Genie Lending can assist with complete finance solutions.
