We were approached by a property investor whose bank was pressing for the repayment of a property loan which had expired. Unfortunately, due to his other business commitments, the client had failed to progress a refinance agreement and, despite his monthly payments being up to date, the bank appointed a receiver.
The investor wanted to avoid a distressed sale and retain the property. AFT’s in-house Business Angel Fund acted immediately to provide him with a short-term loan to repay the bank and avoid any further action by the receiver.
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