Just before Christmas James Hurley at The Times led with the headline, ‘Disaster doesn’t have to mean the end of the road’. The working life feature was based around two case studies, one of which was Clifton Asset Management Pension-led funding client, Lethenty Cabinetmakers. The feature highlighted how two small businesses were fighting back after experiencing a major shock.

In Lethenty’s case, Graeme Winram, owner of the business had to act fast when a huge fire destroyed his workshops at Lethenty Mill, Aberdeenshire in 2016. Graeme said in The Times that being well insured and having access to unconventional forms of finance allowed his bespoke kitchen and furniture-making business to survive. Rather than turning to a bank to fund a shortfall in the insurance money, Graeme turned to specialist advisers, Clifton Asset Management to borrow £50,000 from his pension through Pension-led funding.

On the Pension-led funding website, Graeme says that: “I have had funding through my bank before but I was interested in pursuing Pension-led funding because it looked like I would be lending to myself and paying myself back which sounded a better option than going through a bank.”

To read the full case study click here.