Arc & Co. completed 4 CBILS loans with Brydg Capital, in the last week of the CBILS being available. All offers were signed prior to the May deadline, requiring completion within 90 days. The last of the 4 loans closed on Wednesday 25th August.
The loans which totalled £16m; were secured against both residential and commercial properties. The debt facilities will provide the borrowers with 12-month interest paid by the scheme to help support their Covid impacted businesses.
Edward Horn Smith, Managing Director at Arc & Co. says, “Arc & Co. offer a top to tail service; not only precuring the best possible finance solution available within the market but also seeing this through until completion. Ensuring these loans drew down prior to the cut off was essential to our clients.”
Daniel Bendavid, Director at Brydg Capital says, "At Brydg, we are uniquely positioned to fund real estate backed transactions with speed and assurance because of our experienced team, long-standing broker relationships, and advanced technologies. We worked closely with Arc & Co to support these businesses impacted by Covid through our accreditation with the UK Government-owned British Business Bank.”