Brokerplan close multi-million pound deal

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14/09/2018 16:00 | Finance

Brokerplan recently celebrated the closure of a lucrative multi-million pound finance deal which netted some cool commission.

Brokerplan has published details of one of its most successful feats of brokerage to entice ambitious new entrepreneurs into its franchise.

The commercial finance brokers network, which is an offshoot of parent company The White Rose Finance Group, is no stranger to dealing with big money and its been celebrating the closure of a deal worth just over £3 million on a London Dental practice.

After being approached by the owner of a successful dental practice in Southall, London, Brokerplan was tasked with finding the right finance option to allow him to retire and pass over responsibility to his children. The successful business had been valued at a cool £5.1 million in 2015 by Christies, with the clients freeholds adding an additional £1.6m.

However, as he looked to hand over the reigns of his business to his children, he needed help to find the right succession/restructuring second generation loan which would include them as directors. Despite having banked with Barclays since opening his practice in 1994, he still owed them around £2.8 million, making them reluctant to offer further loans.

Working with his local Brokerplan, the client began to search for a way to finance the restructuring. Luckily, his dedicated broker was able to secure a meeting with Lloyds, who were interested in offering financial support to the successful practice. The bank offered finance terms which would permit the clients children to be added as directors, allowing them to continue fulfilling their NHS contracts which are worth around £1.4m per year and additional private work.

For the lucky broker involved, the hard work theyd put in to secure the deal wouldnt have been in vain. Brokerplan estimates that the broker received at least £31,000 in brokerage fees as well as over £11,000 in commission and arrangement fees. It hopes that new franchisees will be lured in by the potential for incredible earnings from deals such as this one and will help it continue its UK wide expansion.

Since it was set up in 2004, finance franchise Brokerplan has earned a reputation as one of the UKs most respected and successful Commercial Finance Specialists. Its regulated by the FCA and a full and active member of the National Association of Commercial Finance Brokers (NACFB), so franchisees and clients alike can be assured theyre in trustworthy hands.

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