The facility represents the first time JP Morgan has invested in a private securitisation backed by UK bridging loans.
The structure will see Glenhawk’s maximum loan size increase from £3m to £5m. These loans will be used to fund professional, residential and commercial borrowers with short-term lending.
Having recently received authorisation from the Financial Conduct Authority, the new capital will also support Glenhawk’s entry into the UK homeowner mortgage market, with its first regulated bridging product planned for H1 this year.
Guy Harrington (pictured), founder and chief executive of Glenhawk, said: “This is a significant milestone for us, a little over two years since we started out.
“The new funds allow us to enhance our existing product range, whilst providing us with the platform to expand into markets where there is an opportunity for us to replicate our success to date, as we look to continue pushing the boundaries with what is possible in the non-bank lending space.”