Pitch 4 Finance has completed a business loan for a broker whose client was a UK company, looking for finance for assets in a foreign country.
This was an unusual arrangement as most lenders will not consider lending on anything that has a UK structure with an offshore entity.
The client had a Turkish subsidiary and the loan was needed to obtain finance on contracts where the assets behind the contracts were situated in Turkey.
In cases like this the only other option available for the client was to raise money via private equity or reduce equity holdings in their company, but Pitch 4 Finance reported that it was able to secure a less expensive option.
Miranda Khadr, CEO and founder of Pitch 4 Finance, said: “A case like this is difficult to finance but we managed to secure a funding line to fund our client’s future cash flow.
"This meant they didn’t have to dilute their equity by undertaking a private equity raise.
“As long as the client’s income stream is strong, we have access to a lender who will consider complicated jurisdictions.
“Complex mortgages are a speciality for Pitch 4 Finance and in scenarios like this we know which lender to go to.
"We were able to package the case for the broker and get the deal through relatively quickly.”