BUSINESS OPPORTUNITY

Channel: Business Finance Consultant
Client: Entrepreneur, 57 years old, Cambridge
Assets: Fine wine collection worth £215,650
Loan: £129,390 (60% LTV)

BACKGROUND

Needing to fund the final part of the purchase of a new business, the client wanted to raise £129,390. Requiring the funds in a tight timeframe, which would allow him to complete the purchase before he went abroad, the client approached a business finance consultant for help. The consultant recognised that other forms of finance would not provide the solution in time, but discovered that the client had a fine wine collection that he would consider using as security on a loan.

OUR SOLUTION

The consultant introduced his client to Suros Capital, and our team contacted the client directly to gather further information on the fine wine collection and to arrange an appraisal appointment with the client at the fine wine storage facility. The collection was valued at £215,650 and we were able to advance the full £129,390 required.

As the fine wine was already stored in a professional wine storage facility, Suros Capital were able to keep it there for the duration of the loan. This eliminated any concerns the client had about transportation, security and care. The transaction took three days to complete from the initial enquiry.

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