Mar 5

Affinity’s quick response secures land purchase

Posted: 5 March 2013 by admin

We were approached by a long standing customer who was struggling to raise the necessary funds to purchase some land he was given the option to buy.

The transaction needed to be completed quickly as the owners had several buyers interested who were cash purchasers. His current bankers could not meet the tight timescales without a large amount of information required.

The customer owns a quarry based in Lincolnshire and therefore had some equipment that was unencumbered and could be used to re-finance. We acted quickly to gain a valuation on the Extec crusher, underwrite the deal, raising £50K against the equipment which was transferred to his bank account within 3 days. This allowed him to purchase the land and continue with his expansion plans for his business, without our assistance he would have lost the land and overall opportunity.