Bridging lender Hope Capital has secured a £25m facility from Shawbrook Financial institution to fund its progress.
The agency has been increasing with a variety of new hires in latest months, and Kate Cowan, chief finance officer at Hope Capital, mentioned that the brand new funding line will permit the corporate to speed up its growth plans for 2024, following an “extraordinarily profitable” 2023.
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“The availability of this new funding is extraordinarily effectively timed to help our progress plans,” Cowan mentioned.
“We’re now in an excellent higher place to assist our brokers and debtors who’re searching for tailor-made bridging loans, which units us up ideally as we glance to our technique for 2024.
“We’re experiencing an especially profitable interval, with important progress in enquiries and completions.
“To have Shawbrook be part of our funding panel might be instrumental and we’re very grateful to their staff for this incredible alternative.”
Hope Capital gives bridging loans on all varieties of residential properties of as much as £5m for a time period of as much as 18 months.
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Warren Mutch, head of speciality finance at Shawbrook, added: “We’re delighted to be supporting the staff at Hope.
“The enterprise is very regarded in its market and effectively positioned for progress, and our dedicated funding line is focused to help them into 2024 and past.”
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