The facility, with IP Developments, will help fund two new neighbourhoods in the Rowley Regis and Tipton areas of the town.
The projects have a combined Gross Development Value of £9.5m.
Dave Pearson, director, IP Developments, said: “Our goal as a company was to become a well-known local developer, building well-designed homes which are environmentally up to date. These two developments will add to our growing portfolio of new homes, and thanks to the financial support from NatWest we will be able to create even more local jobs.”
Nick Hill, relationship manager, NatWest, said: “IP Developments is leading the way when it comes to providing affordable quality homes built for local people. We look forward to working with the business to help them continue to grow.”