Background – Supporting a family business dream
An award-winning dog breeder in Gartmore, Stirling, approached ASC Scotland Director Alison Hunter to assist him and his wife purchase a Boarding Kennel and Cattery.
The deal was fraught with uncertainty for a number of reasons, but that wasn’t going to stop ASC.
Kennel Finance
Challenges – Overcoming funding and trading history issues
The new owners required the maximum Loan to Value (LTV) amount as the funds available for deposit were limited. An additional complication for the new owners came when the lenders noted that the business had a poor trading history due to it having been run as a lifestyle business by the former owners.
Solution – Building a strong business case for lenders
Alison needed to put together a very strong business case in order to really sell the application to lenders. She worked with the clients to compile detailed business plans and projections in order to support the case, plus she highlighted the fact that the new owners were award winning breeders to win their support.
Outcome – Funding secured and business development underway
Lenders were content with the proposition put to them, and were ultimately happy to lend £422,250 for the purchase and development of the business.
