PFC provides acces to finance for holding landlord

Richard Leeder helps Property Developer secure Asset Finance

One of Richard’s Portfolio Holding Landlords has recently embarked on a rapid acquisition of disused commercial buildings, converting them into fully serviced residential accommodation.

Despite securing some bridging finance, and using his own funds, capital was rapidly dwindling, but the cost of the works were rising even faster.

Richard had a brilliant idea of addressing the soft asset costs of this development and investigating our lending panel to see if they could offer Asset Finance for a large part of the project.

He was able to successfully raise £75,000 with one panel lender on a finance lease basis, covering everything from doors and windows to kitchen and bathroom fit-outs. In turn, this allowed the client to ring-fence his own essential capital, and also benefit from the spread repayments and efficient tax relief inherent to finance leases.

Richard works within the general SME sector, building on his asset finance experience after many years in the car retail industry. Richard also works closely with a large panel of property development clients. Although based in the Cheshire office, as BDM, much of his time is spent visiting companies and attending local business seminars. Working with a large referral network has allowed Richard to arrange notable six figure invoice finance facilities, and assisted in us attracting further challenger banks to the lending panel, resulting in us strengthening our products to SME businesses.

If you are interested in discussing asset finance in more detail for your business, contact us directly on: 01829 738 799 or send us an email to: enquiries@pfcfinance.co.uk