Case study
Case Study: Securing growth through government-backed finance through the Lifecycle network
Background
- Experienced accountant seeking to buy established practice
- Required financing without leveraging personal property as security
- Target business had recently changed ownership
An experienced accountant, introduced through the Lifecycle network, was seeking to acquire a well-established accountancy practice. Having built a strong career across several firms, the client was ready to move into ownership and viewed this as an ideal opportunity. They were, however, keen to avoid using their jointly owned family home as security and were unsure what funding options were available given their circumstances. The transaction was further complicated by a recent change in ownership within the target business.
The Approach
Following the introduction from Rob Banbury, the Leonard Curtis commercial finance team worked closely with the client to understand their objectives and the specific complexities of the deal. A key focus was identifying funding that did not rely on tangible security, which narrowed the range of suitable lenders. Leveraging strong relationships with both national and regional institutions, the team engaged with lenders offering access to government-backed schemes to find an appropriate solution.
Despite the added complexity of the recent ownership change within the target business, the team were able to secure a lender willing to provide a 70% funding structure under the Government Growth Support Scheme (GGS). This arrangement required only a 30% client contribution and, importantly, avoided the need to use personal assets as collateral. A £504,000 commercial mortgage was arranged over a 60-month term, providing the necessary capital to complete the acquisition while maintaining manageable repayments aligned with projected cash flow.
The client successfully completed the acquisition with a funding structure that protected their personal assets and supported their long-term business goals. This case highlights how the Lifecycle network connects professionals with the expertise and financial solutions needed to enable growth, facilitate ownership, and drive lasting business success.
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Leonard Curtis is a trading style of Reach Commercial Finance Limited, registered at Riverside House, Irwell Street, Manchester, M3 5EN. Company Register number is 09056450. Reach Commercial Finance Limited is authorised and regulated by the Financial Conduct Authority, FRN: 753686. Reach Commercial Finance Limited is an authorised credit broker and not a lender. We work with a an unrestricted number of lenders to find a potentially suitable arrangement for your consideration. ICO registration ZA069234 and you can check via www.ico.org.uk. We will receive commission from lenders. Different lenders pay different amounts depending on different commission models. For transparency we work with the following commission models: fixed fee, fixed rate of commission, percentage of the amount you borrow and rate for risk (this is based on the risk profile of the business). Further details of the commission model, calculation and amount will be disclosed to you throughout your customer journey. Privacy notice.
Leonard Curtis Legal Limited is a limited company, registered in England and Wales with registered number 09820186. Registered office: Riverside House, Irwell Street, Manchester M3 5EN. Leonard Curtis Legal Limited is registered with the Solicitors Regulation Authority with number 626004.