Suros Capital provides property renovation bridge in six hours
Specialist short term lender, Suros Capital, has enabled a customer to finalise a project of property renovation by providing finance within six hours of enquiry.
The customer, a seasoned professional property developer, needed funds immediately in order to go green light a planned renovation project which had a set completion date.
Unable to raise funding from her bank or short term lenders quickly enough because criteria requirements would take too long, the client approached Suros Capital.
Being in possession of an Audemars Piquet watch and a small collection of jewellery including Graff diamond earrings, Suros Capital was able to advance £80,000 immediately to the client, who brought her watch and jewellery into their London office for valuation. From first enquiry in the morning to funds release in the afternoon took six hours.
Ray Palmer, director of Suros Capital, said that because of its unique facility to lend against luxury assets, Suros is establishing itself as the lender which delivers funding when clients need it.
He said: “Suros is really making its name as a lender which can deliver for all types of client. In this case a property developer was faced with an unexpected cashflow shortfall which could have been the end for a new renovation project, already at an advanced development stage.
“I am pretty certain that no other lender could have been so responsive and acted so quickly to provide the bridge required to keep this project on track. The client was delighted and now knows she can make use of her luxury assets at any time, if she needs funding instantly.”