Robin Goddard from Reach Commercial Finance talks about putting together a complex deal for an international optical retailer with unusual security on offer

We were recommended in to the Somerset-based professional eyewear company by their accountants who recognised the need for specialist support.

The company was looking for funding with a challenge attached. Our initial assessment was that the deal could only be supported by third party security.

Given the six-figure level of funding required we needed to think carefully about the approach into funders to understand their appetite for lending on this basis.

We got in touch with a number of potential parties, five in total, to discuss the deal and subsequently narrowed it down to one company who was able to assist us.

We then worked with the borrower and their accountant to bring the deal to a conclusion, delivering a loan secured on property of £175,000, with repayment over a 10 year period. The process from start to finish took seven months.

This was a complex deal with unusual security on offer that needed to be fully understood by the lender in order to be comfortable with its structure.

We succeeded by being patient, understanding and thorough in our search for the right funding partner, ensuring all the facts were presented to them accurately, so that there were no surprises at any stage in the process.

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