Shawbrook Bank supports VAT funding specialist with £20m funding line

January 2022

Bloomsmith Logo
Client BloomSmith
Sector VAT Funding, Commercial Property
Facility Revolving Credit Facility
Funding Need Speciality Finance
Value £20 million
Team Speciality Finance
Region Nationwide


Shawbrook has structured a new funding line to support BloomSmith as they look to extend their commercial reach and progress their growth plans.

BloomSmith is a provider of unsecured VAT funding solutions for the property industry. The business works closely with investors and developers, along with their chosen agents and funding partners, to provide 100% of the VAT required.

BloomSmith’s VAT funding solution covers the VAT element due on the purchase of a commercial property. Procedural transactional detail is dealt with lawyer to lawyer to the point of completion. HMRC then repay the facility from the reclaim typically within 90 days.

With no legal charge taken as part of the facility, legal complexity is minimised. Senior lenders do not need to be concerned with the existence of a second charge and the issues that that creates.

Operating in a specialist sector that requires a fast turnaround on funding, BloomSmith was looking to partner with a lender who understood the industry and could help fast-track their development plans. Jake Francis and our Speciality Finance team have extensive experience in the property and alternative lending sectors and structured a revolving credit solution to help the client scale up and achieve their growth objectives.

The positive impact of our facilities is real, both in terms of transactional simplification and the reduced cost of not having to stretch senior and mezz facilities.

— Nigel Smith, Joint CEO of BloomSmith

Nigel Smith, Joint CEO of BloomSmith added:

"With our funding available within 48 hours, the demand for facilities means that our partnership with Shawbrook, especially in terms of “peace of mind” given their standing and experience, is very welcome for both ourselves and our customers. We like to think that it is also a reflection of our professionalism. It has been a pleasure to work with Jake Francis to put this facility in place. Procuring the Shawbrook funding line has endorsed and strengthened our systems and process and I look forward to working with our clients to deploy funds through 2022 and beyond.”

Jake Francis from Shawbrook’s Speciality Finance team said:

“Property is a fast-moving competitive sector, particularly in the commercial space, and the proposition BloomSmith has created is highly compelling.

It has been a pleasure working with the very experienced management team and to extend the specialist support we can provide the alternative lending community to help businesses like BloomSmith scale-up and achieve further growth.”

Neil Petty Founder and Joint CEO said:

“BloomSmith are delighted to be working with Shawbrook. This new funding line cements our place as the market leading VAT lender in the industry and forms an integral part of our growth plans. I would like to take this opportunity to thank Ella Leonard and Luke Morris of Fladgate and Mark Dalton of Buckle Barton, and of course Jake Francis and the Shawbrook Speciality Finance Team for their work in creating the partnership”.


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