What we’re offering
We’ve listened to your feedback about the difficulties borrowers are currently facing and we’ve responded by launching a new mid-term commercial product.
The product is ideally placed for restructuring loans when borrowers are struggling to meet banking covenants. It will be for a term of 36 months and what’s more, there will be an ERC-free window from months 18-24. The ERC free window allows borrowers a chance to refinance should their business and/or the market make significant improvements within the 3-year term.
What we will consider
- Loans of up to £25M.
- A wide sector appetite and will fund offices, warehouses, hotels, pubs, care homes and PBSA throughout the UK.
- Supporing debt restructures where the existing covenants may be strained.
- Any borrower structure, both onshore and offshore.
a human approach to lending
“It is important for lenders to react to market conditions when they change. This is especially true when designing new products. The market has shifted and there are now many borrowers who are facing the daunting task of refinancing in a difficult environment. Borrowers that need to move their debt away from a banking relationship are faced with high rates for a five-year loan. This may be unnecessary should their business outperform expectations, or if the market improves. Many are simply faced with disposal during what could be a tough 2024. Our mid-term commercial product gives flexibility with a 6 month ERC free window in the middle of the term, but also the security of a three-year product. ”