Finance

Positive secures funding for £2m transaction




Specialist broker Positive Commercial Finance has arranged a £1.4m commercial mortgage for a client looking to buy an industrial estate in a £2m transaction.

Manchester-based chemical manufacturer Concept Chemicals was looking to purchase the industrial site where its factory was situated in order to expand its manufacturing operations and deter another business from acquiring the buildings. 

Positive approached Lloyds Bank to fund the deal, which then sent its specialist manufacturing manager out to meet the business.

Lloyds Bank was keen to lend to the UK manufacturing sector due to its specialism in the area and deemed the client’s business profile as a good fit with its target profile for new business, due to the high level of exports.  

While two funding options were offered to the business – a standalone commercial mortgage plus VAT or a full package including replacing the existing overdraft facility with their current bank – a £1.4m commercial mortgage over 20 years with a short-term VAT loan was accepted and completed in six weeks.

Commenting on the deal, Samantha Williamson of Positive Commercial Finance said: “It was a pleasure to help a client with such a well-established business and keen to purchase their premises to safeguard their future. 

 
Samantha Williamson of Positive Commercial Finance

“It was imperative to progress the case swiftly and provide options for the client based on their mortgage needs and business plan.”

Paul Teasdale, non-executive director at Concept Chemicals and Coatings Limited, who led the deal for the company, added: “[Positive’s] extensive network of lender contacts meant we got the finance we needed, quickly, on better terms than other offers and generated a substantive saving from monthly repayments below what we were previously paying in rent.  

“A winning combination and a very positive experience.” 

Leave a comment