The Situation
Thank you to Guy McDonald, Commercial Finance Specialist at Millbrook Business Finance for working with us on this deal.
Guy’s clients are experienced business owners who were inspired to start their own Glamping Site, following their positive experience on a Glamping Staycation two years ago.
This led them to undertake the planning and preparation to establish a luxury Glamping Site featuring premium amenities, such as hot tubs, fishing, shooting, and equestrian facilities, offering a year-round pet-friendly retreat in a picturesque location.
The funding requirement was for six fully equipped Glamping Pods. However, for a pre-trade business, such as this, finance can be more tricky to secure. Looking at the financials and net worth Guy understood it was a perfect deal for Asset Advantage.
The Funding Solution
£148,000 Business Loan, on a 5 year term. This was further complicated in that the supplier required 50% payment upfront to start building the pods. Asset Advantage was able to be flexible and cover this within the structure of the loan.
Why Asset Advantage?
Guy said, "Asset Advantage offer the best rates for new starts. By bringing the deal to Asset Advantage, the client was able to get the whole deal funded. This meant we didn’t need to split the deal among other funders, which would have been less efficient for the client.”
Insight from Vickey Want, Assistant Director of Credit
Vickey said, "A seasonal business can be difficult to fund, however in this case, the fact that the client owned the land of the proposed Glamping Site, together with a good business plan, led us to fund all six Glamping Pods that the client required."
Key Facts
Finance Type
Business Loan
Amount Financed
£0
Summary
“Asset Advantage offer the best rates for new starts. By bringing the deal to Asset Advantage, the client was able to get the whole deal funded.”
Term
5 Years
Purpose
6 Glamping Pods
