Leasehold Business Loans
Leasehold finance
We work with a specialist lender that grants loans exclusively on leasehold businesses in the Hospitality, Leisure & Retail sectors.
They lend from £100,000 to £2,000,000. mainly Greater London area.
They provide unique loans for leasehold businesses as an alternative to traditional high street bank funding and private equity.
If you have experienced difficulty in sourcing finance to buy that Restaurant, Gastro Pub or Nightclub then call us – we may be able to help. Leaseholds are our business!
Process:~
New Enquiries can be made over the telephone or by completing and returning one of our simple Questionnaires. We do not require P&L Accounts, business plans or CVs at this stage.
Stage 1
If you wish to apply for a loan, you must complete one of our simple Questionnaires and email or fax it to us for immediate attention. Please note that we do not require P&L Accounts, Business Plans or CVs at this stage.
Stage 2
If we agree to proceed with your transaction, we will issue an Official Quotation which will be sent directly to you with a Loan Application Form. In order to progress your case, you must sign the Official Quotation and complete the Loan Application Form as marked then return these documents to us for immediate assessment.
Stage 3
Once we receive these two documents back, we will instruct Valuers to contact you in order to make arrangements to inspect the business. The Valuers will usually telephone us after the inspection of the business to reveal their findings. If this verbal report is satisfactory, subject final underwriters’ approval, we expect to issue a Loan Offer within 24 hours in most cases.
Drawdown!
It takes 10 days from receipt of your completed Questionnaire to Loan Offer and then 3 to 4 weeks to reach drawdown. We do not charge clients any fees whatsoever and only generate income by actually granting loans, so it is in our interest to guide your case to completion in the shortest time possible.
Success Stories:~
The Successful Multi-Cafe Operator
The owner of three leasehold cafes in Chelsea, London SW3 wanted £600,000 to buy a very profitable leasehold Gastro Pub in nearby Fulham but no funder would grant the required 100% loan. We employed the professional services of valuers Davis Coffer Lyons to inspect all four businesses and the reports proved excellent. We decided to advance the entire £600,000 on a Repayment Loan basis over 60 months taking a first charge on all four leases as security for our facility.
Famous Bar/Restaurant Group Expands
The owner of several well-known London bar/restaurants wanted to expand by opening a new venue in Soho but securing a loan was virtually impossible from traditional routes. Our client did not want to attract public gaze by raising finance through the myriad of new-style finance sources such as private equity or crowdfunders, so approached us for assistance. Our Valuers’ investigation of the existing venues plus an in-depth financial evaluation of the proposed new site proved successful. We granted our client a facility of £450,000 repayable over 36 months to enable him to proceed with his expansion plans.
French Brasserie Seeks Refinance
The owners of this long-established and extremely popular venue approached us for a loan of £350,000 after their bank declined to grant a facility because it was a leasehold restaurant. Our clients required the loan to obtain a new lease on the premises and buy out a long-term sleeping partner. The Landlord required a security deposit of £200,000 which represented one year’s rent in order to grant them the exceptionally valuable new 20 year lease. We carried out an in depth investigation of the business and found it to be a very well-run operation capable of servicing the requested loan. We eventually decided to grant the clients a Repayment Loan of £350,000 over 60 months to accommodate their requirements.
The West End Multi-Site Restaurateur
Our client is a well known Chinese entrepreneur who owns numerous Asian cuisine outlets throughout central London including Chinese, Japanese and Vietnamese restaurants. He required a reliable no frills funding source to accommodate his continuous expansion programme plus provision of essential cash fluidity for his operations. We have been able to assist with several repayment loan facilities over the past two years and these substantial facilities were secured solely on the leases of his various restaurants.
Purchase of a West End Bar & Grill Restaurant
An experienced operating trio, with a track record of successful management in steak houses in central London approached First Merchant to back them. This team needed 100% finance in order to acquire the 21 year lease of a Bar and Grill restaurant in a new development which had been trading well for two years. Owing to the strong experience of the team and the excellent location of the Restaurant. First Merchant was able to back the application despite the relative newness of the business. A loan for £250,000 was granted and the business enjoyed its best Christmas trading period yet.
The Mediterranean Cuisine Restaurant
Our client operates six very successful top-end Mediterranean cuisine restaurants prominently located in central London. The operator wanted to expand his portfolio from six to ten outlets and required funding to acquire further premises for conversion to his growing brand. Several high-profile VC firms offered to back him asking for an equity stake between 30% and 40%. Our client decided that our proposed debt finance package offered the most flexible way forward for expansion at this stage with zero interference in the overall operation of his group and the crucially important retention of 100% ownership of the business!
Are you aware that without a Business Property Relief Trust in your Will your family could have to pay 40% Inheritance Tax. I.H.T also without specific appointed Business Executors in your Will. Your personal Executors may not be able to conduct your business affairs. Contact Saxon Wills & Estate Planning. www.saxonwills.co.uk
