Hilco completes £1.5m bridging loan to care home operator within 10 days

By Bridging Loan Directory 12th August 2024

Hilco Real Estate Finance (HREF) last month provided an urgent £1.5m bridge loan to a national care home operator.

The borrower was a repeat customer which had borrowed from Hilco the previous year and this loan was against another asset in the borrower’s portfolio.

The customer had an extremely urgent need for funds due to an unforeseen expense.

They turned to Hilco, knowing that the specialist bridge lender would be able to quickly undertake due diligence in complex situations and reliably provide funding.

Hilco completed the £1.5m loan within two weeks, taking security over an unencumbered 65-bed care home in Cambridgeshire.

The home was in the process of a turnaround plan and the Hilco team’s considerable experience of the care home sector enabled it to take a holistic view of the situation and extend finance.

Adrian Hogan, director at HREF, commented:

“We always look to build long-term relationships with our borrowers.

This particular borrower has funding from multiple specialist lenders.

It’s extremely gratifying that they chose Hilco when faced with this urgent cash requirement, knowing that they could rely on our speed, flexibility and, crucially, our certainty of completion.”