Case Study

A quarry owner was introduced through one of our local accountancy firms who specialise in non-performing bank debt, a problem that still exists throughout Ireland as a hangover from the last recession.

The Quarry is based in Southern Ireland and needed €600k to refinance their loan out of a Vulture fund, their loan had been sold by an Irish bank to a vulture fund, and their advisers were able to negotiate a write-down on their existing loan due to historical unaffordable debt levels.

We were able to source a 15-year term loan of €600k and an additional overdraft, the rate being a very competitive 3% above the bank lending rate. The business owners have worked tirelessly over the last 10 years to keep the business afloat and it is now thriving again.