Modernising Accountant Offices With a £450,000 Finance Deal

For a regional accountancy firm in the Midlands, their old office was becoming a liability in terms of employee satisfaction and maintenance costs. To update, the business sought around £450,000, which would enable them to renovate their ailing 1980s office into a modern open-plan workspace. 

Why was there a problem?

£450,000 is a sizable demand on any business’ cash flow. The accountancy firm in question did not have the money readily available and knew they needed to raise finance to fund the office renovation. However, as accountants, they also clearly recognised their need for a finance agreement that had the best terms and timelines for their business. 

Unfortunately, the lender’s market is vast and some providers won’t entertain an office fit-out loan. A general business loan may not be suited to office renovation, so you’ll need to source a more appropriate deal. The accountancy firm in question did not have the relationships or market experience necessary to find the best outcome, so they approached our team to advise them and act on their behalf. 

Why we were able to help

Rangewell talked through the team’s requirements and vision for the new office. We then analysed their business plan and suggested improvements that would position the office renovation as a financially-beneficial move that would increase the profitability of the business. 

Using this new business plan, we were able to narrow down the lender’s market and find the right options for our client. They reviewed each one and we helped them understand the pros and cons, before progressing to negotiations where we secured a £450,000 facility to be repaid over five years. 

Finance for professional services office renovation

Finding the right finance deal for an office renovation can be a challenge, especially if your business has experienced mixed financial performance (which has been common in the years following COVID-19). To secure the right deal, you need a finance expert that can act on your behalf and make the entire process easier. 

Contact Rangewell for your office finance needs

Not only can we help guide you through the lending market and options, but we’ll add value by helping you streamline your business plan and highlight growth. This will, in turn, allow you to get more favourable rates from lenders.

In this context, our accountancy clients were able to demonstrate how a move to open-plan workspaces would improve profitability and therefore they received a far better agreement for the full £450,000 than would have been previously offered.

Got a similar problem that needs financial support? Contact Rangewell today.