‘No two deals are the same, which constantly presents a new set of challenges’

By Tony Sanchez 27th September 2022

In our latest Five Minute Interview, Tony Sanchez speaks to Lorcan Carroll, case manager at Fiduciam.

Fiduciam is an institutionally funded marketplace lender. It provides short-term loans secured over real estate in the United Kingdom, Ireland, Spain, the Netherlands, France, Germany, Belgium, Switzerland and Sweden, from £250k to £25m, for loan terms of six months to three years, both in pound sterling and in euro.

With its flexible, efficient and competitive approach to lending it helps small and medium sized businesses grow and prosper.

What is the best thing about being in the bridging and development finance business?

No two deals are the same, which constantly presents a new set of challenges. Fiduciam has given me the opportunity to gain insight into various aspects of the lending process.

Within the space of 30 minutes, you can go from dealing with a Broker, Borrower, Valuer, QS and Solicitor. It’s fast paced and demanding.

What keeps you focused?

I’ve always held roles that are customer focused, and it’s an aspect of my job at Fiduciam that I enjoy.

It can take a long time to build a relationship with a customer, so it’s imperative to remain focused on building a rapport.

Having a good relationship with a customer can be the difference between winning a deal or not.

A competitor might offer an attractive interest rate, but the customers remember that time you went the extra mile for them and would think twice before jumping ship.

For a customer, a loan is far more than just an interest rate, the level of service they receive is also very important.

What qualities do you look for in your employees or colleagues?

Hard working, positive attitude and a team player.

I’m lucky enough to be surrounded by a team that demonstrates these qualities in abundance.

Are you an optimist or a pessimist?

Optimist. I like to see the glass as half full (unless it’s someone else’s round).

What did you want to be as a child?

An athlete. I played many sports growing up and reckon I could’ve made it at a high level, but injuries held me back (that’s what I tell myself anyway).

I represented Ireland at an international Taekwondo tournament at a young age, but as well as being prone to injuries, I don’t take losing very well, so it wasn’t long until I was trying my hand at a new sport.

What will be the greatest challenge facing the bridging and development finance industry in the coming months?

Project start levels have slumped as of late due to construction cost inflation.

In addition, developers may have to reconsider their plans because of rising interest rates. This will likely leave mainstream lenders having to tighten their belts, which may open doors for alternative lenders.

Who or what makes you laugh?

The great Micky Flanagan. I’ll never get tired of his ‘Out Out’ joke -you can find the clip on YouTube if you’ve not seen it.

Micky heads out to pick up a loaf of bread in his slippers and ends up in a nightclub with said loaf of bread in hand, and his slippers still on his feet.

Do you dread Monday mornings?

Dread is a strong word, but it’s certainly not my favourite time of the week.

After a recent holiday in Italy, I have a newfound love for an espresso, which most certainly helps kick start any morning.

If you could change one thing about yourself, what would it be?

I’d like to be more adventurous when it comes to trying new foods.

I tend to stick to what I know, a classic case of ‘if it’s not broke don’t fix it’.

My fiancée once managed to convince me to try octopus, but after immediately regretting my decision, I’d sworn off new foods – especially octopus!

With whom would you most like to have dinner?

Roy Keane, Quentin Tarantino, and Liam Gallagher.

Any conversation I tend to have with friends centres around either sport, movies or music; so why not have dinner with – in my opinion – three of the greatest of all time.

Although, I’m not sure Keane and Gallagher would see eye to eye, and Tarantino mightn’t be able to understand what anyone is saying (including me).