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Helping a growing business secure £1.1m to strengthen its foundations for future expansion
Commercial finance can be complex, with lenders offering different criteria, borrowing limits and pricing structures. Even with prior experience, comparing options from across the market and identifying the most suitable lender can be time-consuming and confusing. This was the situation an established storage company found itself in when looking to remortgage its premises.
The Challenge
A business owner approached UMi Get Funding when their existing commercial mortgage was approaching the end of its term.
The business operated from an established site and had ambitious plans for future growth. Before expanding further, the owner wanted to make sure the current property and finances were structured in a way that would support the next stage of the business's development.
Their goal was to secure £1.1m of funding through a commercial remortgage, with a long repayment period and a competitive interest rate that would help keep monthly costs manageable.
The Solution
After reviewing the business's circumstances and objectives, the UMi Get Funding team explored a range of lending options from different providers.
Several lenders were considered, including high street banks. However, some were unable to provide the full amount required, while others proposed costs that were slightly higher than desired.
Following discussions with multiple lenders, one international bank emerged as the strongest option.
The bank offered:
- The full £1.1m required
- A 20-year repayment term
- A competitive interest rate
- No early repayment charges, giving the business greater flexibility in the future
- A relationship-led approach, providing direct support from a dedicated banking team
The Outcome
The business secured a £1.1m commercial mortgage with the bank over a 20-year term.
The funding allowed the company to replace its existing borrowing with a more suitable long-term arrangement, creating a stronger financial foundation for future growth.
By securing a competitive rate and flexible terms, the business owner gained greater certainty over future costs while keeping options open for future expansion and investment opportunities.
Facing similar challenges with property finance or commercial funding?
Talk to David and the UMi Get Funding team today to explore your options.