The firm had set its sights on this target for months but believed it would achieve this in March. It reached the goal on the last day of the month, which it said was a busy day for completions considering it was a Friday.
It added: “With all our business generated ourselves and with no reliance on introducers, this represented an amazing success for KIS Finance and the culmination of nearly 14 years in the bridging sector.”
The gross lending figure includes rolled up interest, fees and renewed facilities arranged by the broker. Following this achievement KIS Finance is now aiming to complete £1bn in net bridging loans, which excludes interest and fees.
The independent broker was founded by Neil Andrews, who is also a commercial consultant at the firm and semi-retired in 2015.
His previous experience includes working at Key Loans and Mortgages as managing director for nearly eight years and chief executive of Dolphin Credit and Finance for eight and a half years.
KIS Finance arranges loans for mortgage, equity release, commercial, development finance and bridging purposes.
It has 12 employees and its most recent appointment was James O’Reilly, who joined the team in September as head of secured loans.
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