Brightstar Financial has joined with Allicia Bank to launch a ‘DIP in a day’ event on 29 November.

The event involves an onsite underwriter from Allica Bank who will assess commercial and semi-commercial cases submitted that day. 

Allica Bank has committed to delivering a same-day decision in principle to any qualifying enquiry submitted by midday.

Allica Bank specialises in lending on commercial property for investment purposes and trading businesses. It accepts most types of property including warehouses, industrial units, factories and offices, retail units, garages and food outlets. 

It lends to a range of trading businesses including convenience stores, children’s day nurseries, hotels and leisure. Maximum LTVs are available up to 70 per cent and rates are available from 3.50 per cent over bank base rate.

In order to secure a DIP brokers will need to provide a range of information, including the name, date of birth and address details for applicants; property address, estimated value and type; details of tenant names and lease terms; product details, including repayment profile and how the arrangement fee is to be paid; affordability information such as turnover or rent; and details of other income sources.