An urgent land bridge was completed and drawn down by Castlehill Capital within 6 working days.
The loan facility was used to provide much needed cash-flow for a site in progress in St Austell. Work on the site had begun already – with foundations being dug and some of the timber frames having been erected.
The developer had funded the works and the purchase of the site from their own cash reserves. While they waited on a development finance lender to underwrite the full development facility.
As this took longer than expected, cashflow became tight and the developer needed funds to help pay wages to keep staff and machinery onsite.
The last thing anyone wanted was the progress of the development to halt whilst the funding was sorted out. Castlehill Capital were able to step in and offer the borrower a quick funding solution secured against the site. Funds were drawdown 6 working days after initial enquiry providing much needed relief to relief to the developer.