Case study 1
Product: First charge commercial refurbishment bridge
Security: Arcade of shops with residential units above
Gross Loan: £757,000
Term: 9 months
Borrower Type: Individual
Purpose: The borrower wanted to use the loan to refurbish the units with the goal of attracting new tenants.
Exit: Refinance via long term commercial mortgage
- Pivot lent against the current value of the assets, including those that were undergoing refurbishment.
- Pivot provided the loan in two tranches.
- It was also a condition that the borrower provided regular updates and photos of the refurbishment.