Momenta Finance collaborated with NGI Finance Ltd. to secure funding for an Oxford-based borrower. The borrower required a bridging loan of £500,000 to release equity from a completed development scheme for their next project.
Fast and Flexible £500k Secured Loan
Momenta Finance, formerly Merchant Money, a UK-based alternative finance provider, recently worked with Chris Morris, the co-founder of NGI Finance Ltd. to provide a flexible secured loan for a borrower based in Oxford. NGI Finance Ltd. is a finance broker with their head office located in the heart of Oxfordshire. NGI Finance Ltd. positions itself effectively to serve individuals and businesses not only in the Thames Valley but also across the entire UK
The client needed a bridging loan to release equity from a completed development scheme in order to secure their next development project. They required funding quickly, Momenta Finance were able to provide the borrower with funding within just eight days. The amount released to the borrower was £500,000, secured by a 1st legal charge. There were no early repayment or exit fees, providing the client with more flexibility.
Securing Rapid Funding for Oxford-based Borrower
Chris worked closely with Tom Shave and the Momenta Finance underwriting team, who took the time to understand the client’s requirements and tailor a solution that met their needs. The underwriting team was thorough in their analysis, ensuring a comprehensive assessment. They impressively provided a decision within 24 hours of receiving all the required documentation. This efficient and personalised service helped to ensure that the deal was funded within just eight days.
The flexible secured loan was provided with favourable terms that allowed the client more flexibility in repayment. Chris Morris from NGI Finance Ltd. was pleased with the outcome, stating:
“Momenta Finance were able to provide a fast and flexible solution to my client’s funding needs. The ability to provide funding in just eight days was a key factor in securing this deal. The team at Momenta Finance impressed me with their professionalism and expertise”.
Momenta Finance’s ability to provide fast and flexible funding solutions was instrumental in allowing the client to access the funding they needed. This enabled them to move forward with their next scheme.
The quick turnaround time provided by Momenta Finance was a key factor in securing this deal. It demonstrated the company’s commitment to providing fast and flexible funding solutions.