ABC supported an experienced building contractor with his first development, a project of eight flats in Central Slough.
Construction had commenced a few years earlier, funded by a combination of retained business profits and a small bridging loan which was to be redeemed. Additional finance was required to complete the construction and to furnish the flats which are to be retained and let on Assured Shorthold Tenancies.
ABC will be repaid when the loan is refinanced. If the borrower wishes, ABC can internally transfer the loan to a three-year term loan.