Case Studies
€650K Refinance Eases Cashflow Pressures for SME
Great to work with Clancy – and get our funding properly sorted.
The Outcome
- €650K refinance secured
- 15-year term loan
- High-interest short-term loan repaid
- Lower interest rate secured
- More affordable long-term borrowing
- Cashflow pressure eased
1.
Summary
The business had taken out short-term finance to complete the purchase of its premises quickly. It had done the job, but the interest rate was high and the repayment period was short. As the business continued to grow, the owners wanted to replace the loan with more affordable, longer-term finance. CBF reviewed the options and identified a lender with an appetite for the business.
2.
Challenge
The original loan had been the right solution when the property purchase needed to happen quickly, but it was expensive to maintain. The high interest rate and short repayment period meant the monthly repayments were putting unnecessary pressure on the business. The owners wanted to reduce that cost and spread the borrowing over a longer period, without disrupting the business or its plans for growth.
3.
Approach
CBF reviewed the existing loan, the property and the company’s financial position before approaching lenders. We identified a funder with an appetite for the business and presented the case for refinancing the existing loan. The new facility was agreed at a more competitive rate and over a 15-year term, giving the business lower monthly repayments and more manageable borrowing costs.
