Banking Advice for a Client in the Care Sector

Opportunity:

This client was keen on identifying a mainstream bank who they could work with and who would support them to finance an expansion of their current property portfolio. The client works with Local Authorities to provide safe living for young people; demand is high and an increase in properties owned that can be used as accommodation was a key growth strategy.

Approach:

Our client already held properties free of finance but had limited historical trading figures to support debt service, which was preventing mainstream banks from agreeing facilities. Bathgate worked with the client, a specialist healthcare bank relationship manager and an accountant to overcome these issues.

Solution:

A commercial mortgage was agreed, despite initial decline from the bank, and a banking relationship was started, which can help the client achieve their growth plans.