Spring Finance secures third bridging funding line with Aldermore

The lender said that the funding would allow the company to “continue its impressive growth in the specialist lending industry”.

The company launched its specialist bridging proposition around a year ago, having initially launched in 2011 as a second charge lender.

The funding line with sit alongside its existing facilities with Natwest and Hampshire Trust Bank.

Andrew Bloom, CEO of Spring Finance, said: “We are delighted to have completed on our third bridging funding line. It is a testament to the strength of the team and Spring’s proposition, that despite the challenging economic climate, Aldermore has agreed to support us.

“Securing the right mix of funding is key and this stands us in good stead to achieve our ambitious growth targets.”

Spring Finance’s chief executive Gavin Diamond left the firm in May this year, with Bloom taking on his responsibilities.

Matthew McNeile, business development manager at Aldermore Bank, added: “We are pleased to welcome Spring, who recently completed on an Aldermore Block Bridging facility.

“It’s important for us at Aldermore to partner with the right businesses to help them achieve their ambitions and we’re excited to get to work with Spring. We look forward to a long and successful partnership, supporting its ongoing growth ambition.”