- Client: High-net-worth individual and business owner
- Requirement: £100,000 to settle personal liabilities
- Deadline: Five days
- Facility: Unsecured business loan
Enness was approached by a high-net-worth individual with several businesses and business interests who needed to raise £100,000 to settle personal liabilities. The client wanted to use a limited company to access an unsecured business loan and required the funds on an exceptionally tight timescale.
The client approached Enness on a Monday and needed the transaction completed by the end of the same week. Missing the deadline would have had significant personal consequences, making speed a critical consideration alongside the client's requirement for unsecured finance.
The application presented additional challenges because the client had multiple missed payments recorded on their credit report. Given the short timeframe and the fact that the proposed facility was unsecured, we needed to identify lenders that could consider the client's circumstances and provide terms quickly.
We approached lenders with the ability to provide same-day terms and that could begin their due diligence process immediately once the client selected their preferred facility. Presenting the client's wider financial position clearly was particularly important, allowing the lender to understand the circumstances behind the credit history and assess the application on its overall merits.
Once the client had selected the preferred offer, Enness worked with the lender to begin due diligence immediately. The process moved quickly, and the client was able to draw down the full £100,000 facility the day after initially approaching Enness, providing the capital required well within the original deadline.
This case demonstrates the importance of identifying the right lender when speed, unsecured borrowing and a more complex credit history are all factors in a financing requirement. Enness works with a broad network of lenders to source business finance for clients with complex circumstances and time-sensitive requirements.
If you require urgent business finance or are unsure whether your circumstances will meet a lender’s criteria, Enness can assess your requirements and explore suitable financing options. To discuss your scenario, speak to a mortgage specialist.
Risk Warning:
Business finance carries risks. If you do not meet the terms of a loan, the lender may take action in accordance with the facility agreement. Interest and fees can also increase the overall cost of borrowing.
Disclaimer:
This case study is for illustrative purposes only and does not constitute financial, legal or tax advice. Finance is subject to status, underwriting and lender criteria. Terms and availability will vary depending on individual circumstances. Enness does not provide legal, tax or investment advice, and lender introductions are unregulated.
Information contained in our case studies is for market and illustrative purposes only. In some cases, these may be made up of multiple cases and are for illustrative purposes only.
Some case studies are made up of enquiries that have come into the business, not all business completes, and the posting of a case study does not represent a completed piece of business.
Property values can fall as well as rise, and you may not get back the amount originally invested. Property investments can be illiquid and may take time to sell. Where borrowing is used, your property may be repossessed if you do not keep up repayments on a mortgage or other loan secured against it.
