Arc & Co completes £16m worth of CBILS loans with Brydg in one week

Arc & Co completed four CBILS loans totalling almost £16m with Brydg Capital in the final week before the scheme ended.

All offers were signed prior to the May deadline, requiring completion within 90 days.

The loans arranged included:

  • a £4.1m facility at 60% LTV, secured against a number of newly developed residential apartments in east London
  • a £4.9m loan at 60% LTV, secured against newly developed serviced offices in central London
  • a £3.9m facility at 55% LTV, secured against large partially vacant offices in London
  • a 2.9m loan at 63% LTV, secured against a newly developed penthouse flat in central London

The debt facilities will provide the borrowers with 12 months of interest paid by the scheme to help support their Covid-impacted businesses.

Edward Horn Smith, managing director at Arc & Co (pictured above) said: “Arc & Co offers a top-to-tail service; not only precuring the best possible finance solution available within the market, but also seeing this through until completion. 

“Ensuring these loans drew down prior to the cut-off was essential to our clients.”

Daniel Bendavid, director at Brydg Capital, commented: "At Brydg, we are uniquely positioned to fund real estate backed transactions with speed and assurance because of our experienced team, long-standing broker relationships, and advanced technologies. 

“We worked closely with Arc & Co to support these businesses impacted by Covid through our accreditation with the UK government-owned British Business Bank.”

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