Fincorp which deals primarily in London and the South East was able to assist LMF with a client who was struggling to complete on a commercial transaction due to delays involving their mainstream lender.
The bridging lender said that lenders had squeezed their criteria so tight that only the bare minimum of businesses have managed to obtain funding at a time when small businesses needed finance more than ever.
Mike Hoare, founder and director of LMF, said: “We like dealing with Fincorp because they're very transparent in their approach.
“There's no fee structure and the paperwork is simple to deal with as there are no application forms; it's all done by email. From a financial intermediary’s point of view that provides a simple process when making an application.
“Start to finish took just 12 days, from submitting the application to getting the funds in the hands of the solicitor.
“We always obtain feedback from customers and they were very pleased with the speed and the overall process. It was simple from their point of view as well as ours so we recommend Fincorp to anyone.”
Matthew Anderson, director of Fincorp, said: “In the current climate it is successful businesses who need the finance; it is these businesses who have been able to continue trading. Without access to credit their attempts at maintaining and growing their businesses are being hindered.”
