:: Customers

Customers

Loss Making Proposal

Our clients had been in business locally for many years but had sold out in the height of the market and had enjoyed a couple of years off.

Now they wanted to get back into business and with a couple of friends had found a business opportunity that had potential but was recently losing money.

Not only was there no profit to service the new loan but the funding required was 60% of the purchase price.  Our clients were also going to buy the shares of the company and take over any company liabilities so specialist corporate solicitors would be needed.

Against these odds we put the loan into place and helped the clients into a new business venture with great future potential.

 

Four Care Homes in the West Country 

It was a wet miserably day in March when I sat down at an hotel in Devon with my new client.

She had spoken to probably every broker in the country and slowly whittled them down to a handful over a few months as she searched for her first care home.

Telephone conversations would go on for hours between us as I tried to impart years of knowledge to her about this market sector and how to find a care home that would be both profitable and suit her vision of how a home should deliver its care.

My belief is that many brokers must have stopped taking her calls as the months dragged by.  However, we aim to assist all applicants no matter how long it takes for them to find the right business.  We are now a few years down the road and I am pleased to say that I have financed 4 care homes for our client and 2 for her friends.

 

How many Finance Brokers does it take !

Our client was fed up and sceptical when I arrived to talk about putting in place the finance for the big build onto his existing unit.

He had already seen 3 brokers over the space of nearly 2 years and paid for 2 valuations and still had no offer from a bank.

It was obviously to me from the outset that the problem lay in the proposed build project being too big to do in one go and a new set of cashflows would be required along with an up-dated valuation to reflect the project as a 2 Phase build.  None of these issues went down well with the client but I set about preparing the new cashflows and re-visited him a week later.

Having explained all the negative issues at the initial meeting I then presented all the positives for the phased build at our next meeting along with the added news that I had a bank to fund the project.

Great news indeed, but more surprisingly the bank was one that had declined the deal via another broker who tried to fund the total build in one go with poorly presented cashflows which had resulted in a medioca valuation report.

My concept of a 2 phase build with triggers for the second phase and beefed up cashflows resulted in a much better valuation had won the bank over and only 14 weeks later the building work commenced.

 

Please call us on : 01242 227172

Testimonial

" We purchased a residential home in 2010 with the help of Global Business Finance.  Mark Widdows and his staff were excellent throughout the whole process of purchasing the home.  Mark is very well informed about the care industry and I would have no hesitation in recommending Global Business Finance should you be buying or selling a residential home in the future ".

K.L. Grasby (Director)   Somerforde Residential Home

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" When undertaking a project to expand our care home we approached Mark Widdows with a view to obtaining the best possible deal for refinancing.

We were most impressed with the excellent service we obtained from Mark and his team at Global Business Finance.  They obtained us an excellent deal and were most helpful throughout the process.

We would have no hesitation in recommending Global Business Finance very highly as Mark has a very good understanding of clients needs and excellent contacts ".

Mr and Mrs N. Joshi   Stanmore Care

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" Mark Widdows at Global Business Finance has offered us a fantastic service, right from our first care home to our last.  We were very impressed with Mark when in the middle of the banking crisis in 2008 when no banks were lending he managed to obtain a 75% LTV Offer from one of his lenders - it was a great relief when the offer letter came through as solicitors were waiting to Exchange Contracts, especially as we did not want to lose the deal.

We would not hesitate to recommend Mark Widdows and Global Business Finance to anybody as the service they deliver is second to none and is very professional " !

Mr and Mrs Degun   Degun Care

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