BloomSmith funds £500,000 VAT liability
By Tom BelgerBloomSmith has assisted an industrial client with the acquisition of a 30,000 sq ft industrial building in Essex
Section: mobile apps categories
The £2.5m acquisition carried a VAT liability of £500,000, which BloomSmith fully funded.
The client was a window manufacturer, which was keen to take up occupancy as soon as possible, but its relocation costs meant that it was going to have to endure the often-lengthy wait for the HMRC VAT rebate before it could begin the process.
This would have resulted in a significant delay and substantial additional costs as the client would have the overheads of both their new and existing buildings.
“The facility we provided meant they could implement their move immediately,” said Peter Bloom, founder of BloomSmith (pictured above).
“Providing a significant saving in both money and time with minimum disruption to their business.”
Peter said that BloomSmith’s continued growth into the occupier market was exciting and it had always believed its product was as attractive to developers as it was to occupiers of all sizes and continued to evolve to facilitate that need.
“Advances in our procedure now mean a ‘fast-track’ facility which can provide a drawdown as quickly as five days.
“This has been designed to assist occupiers and developers who are ‘sailing rather too close to the wind’.”
Keywords: BloomSmith, BloomSmith VAT finance, VAT finance, commercial finance, property finance, Peter Bloom, Occupier finance, bridging finance, development finance, VAT loans, Commercial property finance, commercial VAT