Bridge lender Hope Capital wins £25m Shawbrook funding
Bridging lender Hope Capital has secured a £25m facility from Shawbrook Bank to fund its growth.
The firm has been expanding with a number of new hires in recent months, and Kate Cowan, chief finance officer at Hope Capital, said that the new funding line will allow the company to accelerate its expansion plans for 2024, following an “extremely successful” 2023.
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“The provision of this new funding is extremely well timed to support our growth plans,” Cowan said.
“We’re now in an even better position to help our brokers and borrowers who are looking for tailored bridging loans, which sets us up ideally as we look to our strategy for 2024.
“We’re experiencing an extremely successful period, with significant growth in enquiries and completions.
“To have Shawbrook join our funding panel will be instrumental and we’re very grateful to their team for this fantastic opportunity.”
Hope Capital provides bridging loans on all types of residential properties of up to £5m for a term of up to 18 months.
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Warren Mutch, head of speciality finance at Shawbrook, added: “We’re delighted to be supporting the team at Hope.
“The business is highly regarded in its market and well positioned for growth, and our committed funding line is targeted to support them into 2024 and beyond.”
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