The company was looking for funding to help support its ambitious growth international growth plans, so it decided to remortgage its premises.
It spoke to several different banks, however, in the midst of the covid pandemic, the business struggled to find one that could help them. Having spent significant time looking for a suitable partner, they were eventually introduced to Allica Bank.
“Lots of banks were reluctant to secure funding for us,” Jon explained. “Whereas Allica Bank said ‘we want to help, we want to make this deal happen.’”
“We worked closely with a dedicated local business relationship manager who took the time to understand us and our ambitions for the business. Alternative banks spoke a good game, however they were not supported by their credit departments. Our local business relationship manager went the extra mile to assist in making the deal happen.”
In the end, the remortgage deal was completed in just six weeks, from initial enquiry through to drawdown, and against the backdrop of the global pandemic.
Glazing Vision’s relationship manager at Allica Bank, Jonathan Prince, commented
“Established and thriving businesses like Glazing Vision have been underserved by the market for a while, but 2020 has made this funding gap even more acute. The current focus for many lenders has understandably been on providing support to those businesses most at risk from the impact of Covid-19, but this has led to a sharp fall in funding for businesses outside of these schemes.
“At Allica, we’ve built a new type of bank that is committed to ensuring these companies can get access to the funding they need.”
Type of mortgage