2XL Commercial is delighted to have been appointed on the broker panel of the latest funder to break into the SME market – Cambridge & Counties Bank. The bank is dedicated to doing business across its heartlands of Leicestershire, Cambridgeshire and the East Midlands as well as UK Coverage.

The bank is dedicated to supporting businesses and can offer up to 70% LTV and also 10-year interest only facilities which is sure to appeal to those with onerous terms with their present funders, or those wanting to purchase a new commercial property. Mike Kirsopp Executive Director at Cambridge and Counties Bank commented:

“Working with Darren and Tim shows that there is a great wealth of understanding and “can do” attitude in the SME market. 2XL Commercial Finance Ltd have been, and continue to be, really well tuned into the needs of the country’s SMEs and entrepreneurs. The professionalism that 2XL bring to any proposition makes dealing with them easy, seamless and timely. All things that we and our customer’s value!”

2XL is delighted to have recently completed a development finance facility for a commercial property in the centre of Nottingham. Given the nature of the transaction, this was never going to be an easy assignment for the very successful and long-established Nottingham & Leicester student accommodation provider Megaclose Ltd, www.megaclose.com.

The company already has in excess of 1000 student bed places under ownership in the two popular student cities and is now going to convert a former warehouse into 31 student bed places. Completion of the site purchase took place at the end of July 2012 and a concentrated refurbishment programme is now underway to enable the project to be completed by the middle of this October.

Paul Thrower, Development Director at Megaclose said: “I was introduced to Tim Bamber at 2XL via a banking contact who were unable to provide development finance. Tim utilised his extensive knowledge of the commercial funding marketplace to put in place a funding solution for the project. He has worked closely with both us and the lender and facilitated a loan that gets the scheme done. We would be very pleased to work with him on future projects.”