Blackfinch provides £2.3m refinancing loan

Blackfinch Property has completed a £2.3m bridging loan to LittleInch Care Group to refinance two 42-bed operational care homes near Glasgow.

The client will use the facility to refinance an existing loan with a high-street lender after it exited the care sector.

Despite the short timeframe, Blackfinch was able to work quickly to complete the transaction on time and provided the necessary funds at 49% LTV on a 12-month term.

Ian Ford, investment manager at Blackfinch Property (pictured above), said: “Here at Blackfinch, we understand the importance of providing care facilities to an ageing population, in areas where they are needed most. 

“We saw this as an excellent opportunity to assist an experienced and highly regarded care home operator by creating a funding solution fully tailored to meet their needs. 

 “As well as providing a valuable financing solution, this loan facility will allow the operator to pursue their plans of opening a third home in future years, and we look forward to working with them on this.”

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