Reward Funding has delivered a \u00a3900,000 finance package to support the acquisition and redevelopment of a non-trading petrol station, backing a project that traditional lenders had declined.<\/p>\n
The funding was secured for Linthouse Service Station in Wolverhampton and will enable the purchase of the dormant forecourt alongside a full site transformation.<\/p>\n
Sterling Financial Planning introduced the transaction and marks the first completed deal between the two firms.<\/p>\n
Despite the operator\u2019s proven experience, having completed two similar projects in the previous 12 months, mainstream lenders were reluctant to support the deal because it relied on future trading forecasts rather than historic financial performance.<\/p>\n
Reward Funding instead focused on the long-term commercial potential of the site and the operator\u2019s track record in delivering comparable projects.<\/p>\n
Investment will now be used to overhaul the premises, including new fuel tanks, a replacement forecourt apron and canopy, as well as a significantly expanded retail unit that will be more than double its previous size.<\/p>\n
Danny Ahmed, director of Linthouse Service Station said: \u201cReward backed our vision when others paused. They moved fast, asked smart questions and supported us based on what we\u2019ve built and where we\u2019re going. We\u2019re excited to see where the future will take us.\u201d<\/p>\n
Carl Perry, business development director for Reward Funding said: \u201cTiming and trust were critical to this transaction, and it required a lender willing to look beyond rigid criteria and tick boxes. It also marks the first of what we expect to be many deals with Sterling Financial Planning, a partner that, like us, sees the opportunity beyond the obvious.<\/p>\n
\u201cThis is exactly the type of opportunity where our approach to lending can add real value for entrepreneurs wanting to grow their business.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
Funding will refurbish the site with new fuel tanks, an upgraded forecourt and canopy, plus a shop more than twice its former size<\/p>\n","protected":false},"author":266702,"featured_media":2110913,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"coauthors":[127717],"class_list":["post-2110912","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-property","tag-featured-story","tag-staffordshire"],"yoast_head":"\n