Roger, Hotel business
Roger had been running a successful hotel business for 20 years. He was approaching his retirement and was looking to obtain interest only terms on his business loan facility so that he had sufficient time to position the business for a sale. Although Roger had been with his existing lender, a major bank, for over 10 years, the interest only period that he sought was unavailable due to changes in the bank’s credit policy. Understanding the value of an independent commercial broker, Roger’s CFO introduced him to Orium Finance.
How we helped
After an initial strategy meeting with Roger, his CFO and the company’s account, Orium was able to analyse the client’s financial situation and confidentially position the client to several lenders. Two lenders were able to offer the interest only terms that Roger sought, and Orium used the competitive situation to negotiate the best package.
As a result of the competitive situation Orium was able to create for Roger’s business, not only was Roger able to achieve the interest only period he desired, he also obtained a significantly better interest rate. Having a long-standing relationship with his bank, Roger was initially unsure of the value of an independent commercial broker could bring to his business. However after working with Orium and seeing firsthand the difference that an independent broker can make, Roger now views Orium as his external finance partner and continues to work with Orium to manage his business’s ongoing funding requirements.
- Client introduced to Orium via company’s CFO
- Orium held a strategy meeting with the client and their advisors to understand business’s objectives, funding needs and financial position.
- Orium positioned the client to multiple lenders
- Orium negotiated the most competitive and flexible funding option for the client
- Orium managed the refinance of the facility, liaising with the client’s new lender, incumbent bank, company accountant, internal CFO and solicitors
- Orium continues to be a trusted finance advisor, ensuring the client’s on-going funding requirements are met