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Olam Holdings Ltd

CBILS Development Finance

Due to the pandemic and nationwide lockdown in April, Olam Holdings Ltd could no longer access funding for their development of five residential properties on a rural site near Warrington. Owners Paul and Sarah Waterworth obtained £1.13m of finance from Assetz Capital Lending Limited through the Coronavirus Business Interruption Loan Scheme (CBILS) to continue with the venture.

£1.1m

Amount Lent

16 Months

Loan Term

64%

LTV

The loan has kickstarted construction on the properties, which are set to be weather-tight by Christmas and fully complete in June 2021. The bespoke scheme will provide high-quality homes in a semi-rural location with excellent transport links to the East Lancashire Road and M60 motorway.

“Had we not stuck with Assetz Capital and the CBILS scheme, we would have struggled - there were no comparables. Using Assetz, we were able to see beyond the lockdown. They’ve essentially rewritten the rules of lending and in a very short timescale.”




- Paul Waterworth, Owner