Newly launched lender Elysium Bridging has announced its entry into the London private client market. The new Elysium Private Clients division aims to assist high-net-worth property developers secure short-term funding for big-ticket sites within the M25. The news comes just months after Elysium’s launch in March. New bridging lender...
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Specialist distributor First 4 Bridging has announced it has received a 72% rise in development finance enquiries during the first quarter of 2017. The company attributed the increase in part to tighter underwriting within the buy-to-let sector. As a result, First 4 Bridging has launched a new development finance...
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Close Brothers Group’s banking division has reported a 4.1% yearly rise in its loan book following a strong period of growth in property finance. The loan book stood at £6.7bn as of 30th April 2017, up from £6.2bn at the same time last year. The announcement follows the group’s...
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Aldermore has announced the launch of a new contract finance offering. The new service will enable SMEs with an annual turnover above £250,000 to release working capital by advancing funds against their contractual billing. “We have launched our contract finance offering at a time when a growing number of...
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Al Rayan Bank has opened a new office in London’s West End to support its growing commercial finance business. The expansion follows the appointment of two new recruits from Nationwide Building Society in April, which increased the bank’s commercial property team to 11 frontline staff. Commercial property financing was...
Continue ReadingHousebuilder Galliford Try has announced that its partnerships business has completed the acquisition of a leading developer in the South of England. Southampton-based Drew Smith Group – which comprises Drew Smith Limited and Drew Smith Homes – specialises in mixed-tenure developments, land promotion and planning services. The acquisition comes...
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Monzo has revealed that over £250m has been spent via its cards by more than 200,000 customers. The challenger bank has seen a significant rise in customers since hitting the 100,000 milestone just three and a half months ago. The announcement comes a month after Monzo became a fully...
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Plymouth-based MGB, which specialises in engineering for safety critical industries, is gearing up for growth thanks to the planned investment in the UK rail network and an innovative injection of crowdlending. The company, which was formed in 2004, has secured £500,000 in funding from leading UK crowdlender Archover based on...
Continue ReadingWhist the current economic climate is challenging we all have to accept that business funding remains difficult to obtain. The entire dynamic of the banks operating procedures relating to business lending has changed to an unrecognisable point and it continues to change on an almost daily basis. No longer do we live...
Continue ReadingThere are a number of key areas where profits leak from a business. These common problems apply across a wide range of businesses to varying degrees. Key questions to ask are therefore… A) Have you reviewed your current funding in the past 6 months? If you haven’t reviewed this...
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