This law firm needed help to raise capital.
A long established family law firm was looking to raise capital to buy out a retiring partner and take on a further 6 solicitors for its already 9 strong team. Their accountant introduced the deal to Bathgate as their bank was only willing to offer a refinance facility.
Bathgate met with the Managing Director a number of times prior to submitting applications, so we could gain a fuller understanding of the business and its growth plans and tailor a solution to meet their needs. Our approach and relationship we now have with the client have led us to consider further short term funding for the client.
We were able to source a £145k loan on a competitive fixed rate over five years with a peer-to-peer lender that gave the client the ability to settle early if required without incurring any penalties. We were also able to arrange a £33k personal loan over the same period via a professional lender.