Former premier league footballer secures bridging finance for new business endeavour
Finbri has arranged £820,000 in bridging finance to a well-known former Premier League player to assist him launch his new business endeavour.
In his retirement, the very successful ex-England and Premier League footballer, who is still involved in the sport today, has begun to further explore new activities, seeking a cash boost to kick start the venture.
"This recent case highlights how versatile bridging finance can be," Finbri's Stephen Clark said. This customer needed to raise funds fast for a new business venture, but was up against obstacles due to a tight deadline and a general unwillingness on the part of high street lenders to help. For a variety of reasons, this was a tough deal to place. Income streams had fallen during Covid-19, as they had for many others; the property did not meet expectations in terms of market value, and there was a pressing need for completion speed. However, by working together a private lender we were able to overcome the issues and obtain the funding the client required.
"People commonly identify bridging finance with property, but they may be used for nearly any situation where funds are required urgently and regular lines of credit are simply unavailable," Stephen noted.
The client can now start working on the new business and plans to return the bridging loan in full over the next 14 months.