Over just six weeks, Fiduciam worked with three different law firms across three jurisdictions to provide our client with the funds and time to continue their business, and mitigate the impact of the past year.
In just 6 weeks Fiduciam has provided £7.5 million in funding for the refurbishment and reopening of a hotel in Cornwall. Despite facing a highly complex planning and title situation, we have completed the transaction quickly so that the hotel could accommodate the G7 police forces.
Once more, Fiduciam has overcome a problem that many developers face with traditional bank financing. This loan enabled the developer to settle both the main contractor account and redeem a Spanish bank loan in full.
Now planning permission has been granted for a manufacturing plant in Ebbw Vale in South Wales, Fiduciam has provided TVR with a further £2 million loan. The first cars are expected to be delivered in 2022.
Fiduciam has received £430 million of requests for Coronavirus Business Interruption Loan Scheme (CBILS) loans by the 15th of October and expects to receive at least another £200 million of requests until the 30th of November. As a result, Fiduciam has reallocated a substantial amount of our resources to handle the CBILS application volumes.