Who: A executive in a leading, US-based tech company, based in the UK
Assets: Significant equity in a listed tech firm, a profitable start-up business, a £2 million primary residence in London with no mortgage
Enness’ client – a US national – was one of a large US tech company’s first UK-based executives, having helped set up the firm’s UK division over ten years ago when the company was much smaller. The individual had accrued significant equity in the company as part of their compensation package. The client – in their late 40s – wanted to buy a high-value investment property through which they could generate regular income, which would eventually support early retirement. Using the client’s portfolio of single stocks, Enness arranged a securities-backed loan to allow the client to buy the property.
The client was looking to move house, hoping to upgrade to a home with more space for their teenage children. The individual had found it very difficult to find a home they wanted to buy and was frustrated by sales that had fallen through. Enness helped the client release £100,000 in equity from their current property to invest in an extension and complete refurbishment. The project added £280,000 pounds in value to the property.
The individual had a side project in addition to their full-time role in the tech firm (with the blessing of their employer, which operated in a different sector). The individual had developed a new gaming platform which they had launched with a minimum viable product which had been very successful. However, they were now struggling to grow the business, given the founder had limited time and didn’t want to leave their fulltime role. The individual approached Enness looking for a loan that would help them grow their start-up company. Enness approached lenders who were impressed with the product, its potential, its launch in the market and the future business plan. Security was challenging as the business entity the client had set up had minimal assets and required a structured approach to ensure that the funding was raised against the company’s future profits. Enness was able to secure a loan of £500,000 against the company's future profitability, allowing the borrower to hire someone to run and grow the business for them full time. Enness’ client had a great rapport with the lender, who supported the founder to grow the business, attaining the projected revenue growth.