Can I finance multiple sites or a phased refurbishment under one facility?

Yes. UK SMB lenders regularly fund multi-site rollouts and phased refurbishment programmes under a single master facility. The structure varies by ticket size and asset mix, but the principle is the same: one facility, staged drawdowns against agreed milestones, single underwriting and single relationship.

For multi-site fit-outs in hospitality, retail, healthcare or franchise networks, the typical structure is a master hire purchase or term loan facility of £250,000 to £5m, with drawdowns released as each site reaches a defined milestone (lease signed, fit-out 50% complete, premises trading). The lender takes a debenture and PG up front, and each drawdown is conditional on satisfactory updates from the borrower. Allica Bank, Shawbrook and Aldermore handle this for £500k+ packages.

For phased refurbishment of a single site (where work happens in stages over 12 to 24 months, often to keep trading running), a staged-drawdown term loan is the cleanest structure. The borrower draws against approved invoices as each phase completes. Repayment usually begins after the final drawdown, with an interest-only or capital-deferred period during the build phase. Specialist UK fit-out lenders like Time Finance and Ultimate Finance offer this structure.

Three things to watch. Cross-default clauses: with one facility funding multiple sites, a problem at one site can trigger default on the whole facility. Drawdown conditions: missing a milestone delays funding for the next site, which can cascade. Concentration risk: lenders cap exposure to any single facility at typically £2m to £5m, so very large rollouts may need a syndicated structure. See our fit-out loan use case for the single-site version.