It has been nearly seven years since Fiduciam granted its first Irish bridging loan, and its Irish lending operation has grown strong since, now with a dedicated five-person team, offering bridging loans, development finance and commercial mortgages all across Ireland. Over the last seven years Fiduciam’s bridge finance solutions have assisted a wide variety of businesses in Ireland: property investors, developers, hotels, pubs, farmers, manufacturers, care home operators, retailers, and even performing artists.
Last week, Fiduciam successfully assisted a long-term client with a time-sensitive transaction, providing them with the necessary funding within a remarkable timeframe of just one week, thereby setting a new time record for an Irish bridging loan completion.
The client was a repeat borrower fully familiar with Fiduciam’s Irish bridging loan solutions; in this instance they had urgent liquidity needs to complete the purchase of investment properties for future development schemes. The objective was to extract €1,150,000 of equity from a semi-commercial Georgian building located on Pembroke Road, a sought-after location in Dublin city centre, using a bridging finance solution.
Fiduciam was able to facilitate the entire Irish bridging loan quantum requested by the client at a competitive monthly interest rate of 0.85% and a loan-to-value of 65%, for a 12-month term.
Fiduciam’s experienced underwriting team and streamlined credit approval process allowed the facility to be completed within the short timeframe. This process ranges from obtaining initial risk approval and completing comprehensive know-your-customer due diligence, to finalising a legal and valuation review and gaining full credit approval. Fiduciam collaborated with McGahon & Associates to finalise the legal documents in record timing. Vincent Finnegan, who have previously worked with Fiduciam on multiple Irish bridging loans, provided an expert valuation of the property.
Luca Ciliento, Development Finance Associate for Ireland, said: “We are thrilled to have provided a fast and efficient Irish bridging loan solution for a repeat client, enabling them to seize a profitable investment opportunity. At Fiduciam, we prioritise speed, reliability and client satisfaction above all else”.
Yasmeen Dufils, Senior Underwriter for Ireland, commented: “We are delighted to have assisted our long-term client in this transaction, thereby completing an Irish bridging loan within a record time of one week, and we look forward to continuing to provide reliable and efficient lending solutions to businesses and individuals in Ireland”.
Fiduciam’s Irish bridging loans are flexible and tailored to each client’s specific requirements, offering an attractive solution in situations where urgent working capital is required, to complete acquisitions or to make new investments.
