At the same time the private banks, which would historically have provided such loans, have sharply reduced their cross-border loan products.
Strong demand for Fiduciam loans in Spain
Trees grow on money. Wishing you a very happy festive season.
Lending to businesses can be rewarding. Fiduciam has been provided with a Christmas tree grown by the Irish farmer it lent money to earlier in the year. The Christmas tree, which is in pride of place in Fiduciam’s London office, was chopped down and flown back by Fiduciam’s own staff all recorded on video.
First loan secured over French real estate
Fiduciam adds France to the list of countries where it can take security for its bridging, refurbishment, development, business and trade loans.
It granted a €5 million loan secured over a French real estate portfolio with the overall structure spanning three jurisdictions.
Fiduciam cuts its bridging loan rate to 0.60% on residential property in the UK
Fiduciam has lowered the interest rates on its bridging loans for residential property in the UK to 0.60% per month, the lowest rate that it has ever offered.
The rate will be available on loans from £250,000 to £25 million, at up to 60% LTV over a loan period of six months to three years.
Fiduciam completes £15m loan to refinance three care homes
Fiduciam’s loan enabled the borrower to refinance three UK care homes. Due to a Care Quality Commission (CQC) issue with one of the homes, the borrower had run into trouble with their high street lender who wanted to foreclose on their loan, despite the business still being in profit. The borrower stood to lose circa £8m in equity had the lender progressed a sale through administrators.
The Fiduciam loan allows the borrower to retain the business they have spent twenty years building and, in doing so, prevents the loss of numerous jobs and much-needed beds for patients. It also gives the borrower enough time to restructure the business and put another long-term loan in place.
