Mar 4

£1.6M Engineering Software Licence deal completes under tight timescales

Posted: 4 March 2020 by admin

We were approached by a trusted introducer to secure funding of £1.6M for a valued client of his. The lender he had initially engaged with had dragged their heels trying to get the deal underwritten. Ultimately, they declined to support with a week before the client’s renewal date. As you will appreciate, given the size of the deal, everyone was extremely keen to get this over the line ASAP!

Once engaged, we swiftly spoke with the client and gained all the financial information required within a matter of hours. In the meantime, we also spoke with the underwriter at the chosen lender to give him an overview of the deal. Once submitted, we had an approval in place within 24 hours for the full amount based on 3 annual payments. A quick conference call with the client, our introducer and I to explain the process and the deal was written in time for the end of January.

This highlights how efficiently we can react and provide quick credit decisions no matter what the ‘asset.’