Kunal Mehta

SDKA provides its largest-ever bridging loan

SDKA has completed its largest bridging loan, a £885,000 refinance facility secured against properties in Rotherham, Mansfield and Doncaster.

The client required the funds to refinance a £585,000 loan from a previous lender that was unable to provide further support due to Covid-19.

The facility was also used for the acquisition of a strategic plot of land next to the client's main trading site.

The funding was agreed at 75% LTV on a nine-month term, and was secured against eight residential properties, with a care home as additional security.

Valuations were done over a weekend to meet timelines.

Kunal Mehta, director at SDKA (pictured above), said: “It’s exciting to come to the year end with a new milestone to celebrate with the team. 

“This has been a fantastic year for SDKA in terms of growth, at a time when there has been great uncertainty. 

“We secured additional funding from Shawbrook Bank, welcomed a new senior underwriter, moved into our new business premises, and delivered some phenomenal support to local and national businesses. 

“We enter 2021 with great enthusiasm to support our clients and broker partners."


Leave a comment