Tulip Homes is a successful residential and commercial property developer that specialises in high quality and affordable accommodation.
Since 2011, they have been building their property portfolio and they now own and manage a diverse portfolio of flagship assets across the UK, partnering with some of the world’s most recognised brands to deliver consistently high service levels and sustainable growth.
Tulip recognise that cash is the basic ingredient for every business and this is never truer than in the property development sector. Despite business growth and significant asset generation, there are times when cash is needed for extra expenditure and improvements.
Tulip approached Just Cashflow after hearing about its Revolving Credit Facility (RCF) and were successful in their application for £50,000. The RCF gave them easy access to cash when they needed it and no charges were incurred when they weren’t using it. They benefited from a low interest rate of just 0.075% per day and weren’t tied into fixed monthly capital repayments.
After running this facility for around a year, the Just Cashflow Relationship and Growth Team contacted Tulip about a flexible solution to support property professionals with secure lending up to £500,000.
A £250,000 loan realised against Tulip’s existing assets, was used to secure and refurbish a number of new properties to further develop and grow the business, generating value of around £2.2 million and producing 2 new hotels.
This has given them a pipeline of acquiring more assets at around 25% less than market value which they attribute to having available cash.
Since working with Just Cashflow, Tulip has experienced the following benefits:
the ability for longer term forecasting and planning greater power in their negotiations through quick access to cash being able to react quickly to opportunities.