Back to the Gym
- Projection led development finance exit
- Established business
- Quality borrower
With gyms and sports facilities now opening up across the UK – this week’s case study looks at the support given to a health and fitness club.
While clearly a business that has been impacted by lockdown restrictions, our borrowers used the period as an opportunity to progress their long-standing plan to refurbish existing space and extend their building to provide a broader range of facilities to their membership.
Finance for the project was made available by a specialist development lender with our loan facility provided to clear them on practical completion. With a two-year term, our borrowers have time to re-establish trade before moving to a term debt product.
Our borrowers had been operating a successful business in the town centre for many years and their plan was well thought out with a clear strategy for our exit.
The health and fitness club provides an invaluable service to the local community and so we are delighted to have been able to support another local business when it matters most.