The Bridge-to-Term loan that changed everything for a business

Why a new kind of finance solution was needed

Kashif Ahmed and Rushna Ghaznavi, accountants and commercial property owners, spotted an opportunity when they acquired a site previously run as a single trading business. Their plan was clear: divide the site into two commercial units to let and launch a new trading venture on part of the property.

But there was a hurdle. Traditional mortgage lenders usually require at least two years of trading accounts. With a new business and no track record, Kashif and Rushna were left with a strong plan but no straightforward path to long-term finance.

The challenge became even more complex when they acquired Holm House in Penarth, an iconic property they envisioned transforming into a premier destination. Rather than reopening it as another hotel, their vision was to create a premier destination by arranging a collective of best-in-class operators for the rooms, restaurant, and spa. The goal was to bring top-class specialists together under one roof to provide one amazing, cohesive experience for guests. Yet, traditional lenders struggled to see the opportunity.

The hurdles to traditional finance

There were three major barriers:

• A non-trading asset: with the hotel closed, there were no recent accounts or trading history to support a standard commercial mortgage application. Lenders saw a liability, not potential.

• Lack of direct hospitality experience: despite Kashif’s strong background in commercial property and finance, underwriters viewed him as inexperienced in the hospitality sector.

• Economic uncertainty: In a climate of heightened caution, lenders were reluctant to back an innovative model that stepped outside the traditional owner-operator approach.

Kashif and Rushna were left with an asset and a vision, but without a clear route to long-term finance.

How the right product changed everything

That’s when Senior Funding Specialist George Corrigan stepped in. The conventional route would have been to secure a bridging loan, then reapply for a mortgage later once trading history was established. But that would mean two approval processes, two sets of legal costs, and two sets of valuations: adding more cost, stress, and time.

Instead, George introduced Kashif to an innovative bridge-to-term loan from Allica Bank. Unlike a standard bridge, this product is underwritten upfront for both the immediate bridging finance and the long-term term loan exit, subject to the business hitting certain EBITDA targets.

For Kashif and Rushna, this meant:

• Only one set of legals and valuations

• Certainty from day one that his long-term exit route was secured

• Confidence to focus on building Holm House into a premier destination rather than managing endless financing processes

What the client says

"George and the team took what could have been a stressful, uncertain process and turned it into something simple and straightforward. Knowing from day one that our long-term finance was secured gave us the confidence to focus on growing the business. The bridge-to-term loan really was the perfect fit. Kashif Ahmed, Agnitio Accountants

Moving forward with confidence

With the bridge-to-term loan in place, Kashif and Rushna avoided unnecessary costs and delays while securing the financial certainty he needed to move forward. Most importantly, they now have the freedom to focus on turning Holm House into a landmark destination in Penarth, confident that their financial foundations are as strong as their vision.

🔗 Connect with the team behind the story:

• George Corrigan

• Kashif Ahmed

• Rushna Ghaznavi

Discover more about Silver Crescent, the Development property behind Holm house