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Milecross Commercial FinanceMilecross Commercial Finance
Milecross Commercial FinanceMilecross Commercial Finance
  • Home
  • Services
    • Asset Finance
    • Bridging Finance
    • Commercial Mortgages
    • Development Finance
    • Invoice Financing
    • Peer to Peer
    • Secured Loans
    • Other Services
  • Case Studies
  • About
  • Contact
  • Client Login

Case Study

Home Commercial MortgageQuarry
quarry

Quarry Owner

BACKGROUND

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.

SOLUTION

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.

Finance Required

€600,000

Type of Finance

Commercial Mortgage

Timescale

3 Months

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Contact:

  • William Davey
  • Milecross Commercial Finance
  • 3 Wellington Park, Belfast, BT9 6DJ
  • 028 9092 3325
  • info@milecrosscf.co.uk
  • www.milecrosscf.co.uk

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