LHV Bank facilitates key refinancing for West London accountancy firm and South East pub group

By Bridging Loan Directory 1st October 2024

LHV Bank has successfully facilitated two significant refinancing deals introduced by Graham Chaston, Managing Director at Empire Global Finance.

The transactions involved an accountancy firm in West London and a group of pubs operating across the South East, each benefiting from LHV’s expertise and responsiveness in addressing complex financing needs.

A well-established chartered accountancy and tax advisory firm in West London faced a setback when their previous lender’s deal collapsed due to a restrictive security structure.

Needing refinancing to maintain operations, LHV stepped in with a five-year variable-rate commercial loan, secured by a first legal charge on the property, a debenture, and a personal guarantee from the director.

LHV increased the loan amount to cover fees and transaction costs, and by offering a more flexible security structure and using a non-panel valuer, they expedited the process, allowing the firm to continue smoothly.

LHV has also worked with a successful pub group with a portfolio of freehold and leasehold properties across London, Oxfordshire, Warwickshire, and the South East to refinance and restructure their assets.

The refinancing allowed the transfer of a freehold pub from the operating company to a new property company while also addressing financial pressures from the pandemic and rising energy costs.

A competitive variable-rate facility was provided with a security package that included a first legal charge, debentures, cross-guarantees, and personal guarantees.

The bank considered both the vacant possession value and the group’s improving performance to secure a long-term financial solution.

Edwin Yamoah, Lending Director at LHV, commented:

“There were several unique challenges to address in these refinancing deals, but it was evident from the beginning that both businesses were committed to overcoming them with strategic insight and determination.

Conor McDermott, Director of SME Lending at LHV Bank, commented:

“Since the completion of these arrangements, we’ve seen tailored loan solutions not only meet their immediate requirements but also pave the way for sustainable growth ahead.

It has truly been a pleasure to partner with Graham at Empire Global Finance on these cases, and we look forward to collaborating on many more projects.”

Graham Chaston, Managing Director at Empire Global Finance, said:

“The team at LHV understood how to tackle the unique financial challenges that each of our clients faced, which is why they’ve become such a valued partner of ours.

These deals really show the strength of our relationship with LHV, where their quick response and tailored approach made all the difference. We look forward to further collaboration with LHV in the future.”