About the project
In 2017 we helped the management team of an East Midlands optician’s group to fund their Management Buy Out (MBO). The debt level and risk were too high for a high street bank, so it was funded a specialist alternative lender. In 2019 after 2 years trading and partial debt repayment we suggested trying to refinance with a high street bank. Several (but not all) banks including the incumbent bank were prepared to lend under EFG arrangements bit we found one that would not use EFG and would therefore save a further 2% per annum. The eventual interest rate was less than 1/5th of what the business had previously been paying.
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