Charles Street Finance and The UK Lender Group partner on £6.3m commercial finance facility

Charles Street Finance and The UK Lender Group have completed a £6.3m commercial finance facility secured against a commercial premises in Manchester.

The funding package comprised a senior loan provided by Charles Street Finance, with mezzanine finance provided through The UK Lender Group’s private lender panel.

The client was introduced to Charles Street Finance by David Rainford of Cowgills, part of the Sumer Group.

Ben Doweck facilitated the mezzanine finance introduction and worked closely with all parties to help bring the transaction together.

Charles Street Finance had originally been expected to act as sole lender. However, at completion the outgoing lender changed the redemption figure, creating an unexpected funding gap that needed to be resolved quickly.

Maxim Cohen, group chief executive at The UK Lender Group, commented: “This transaction highlights the importance of having the right funding partners around the table when a deal changes at the final stage.

“By working collaboratively and moving quickly, we were able to support the client, bridge the funding gap and help get the transaction completed within five days.”

Carl Graham, sales director at Charles Street Finance, said: “We were pleased to work alongside The UK Lender Group and the wider professional team to deliver this facility in a very short timeframe.

“The transaction required focus, flexibility and clear communication between all parties, and we are delighted to have completed successfully.”