Brokerage Approved Finance Group launches SME division

Approved Property Finance has been set up to support businesses that are looking to expand their premises or launch new sites. 

The new division will be led by property finance broker Laurie Baugh (pictured), whose career history includes an eight and a half year stint at Lombard, first as its senior relationship manager then director of asset finance. He also worked at Finmore for four years as its head of business finance and later broker and packager Rathstones Financial Limited, where he was director for eight years. 

Approved Property Finance has already secured £5m of funding and has a target of obtaining an additional £30m by Q4 this year, which will go towards new and existing clients across the group. 

It will help businesses to obtain bridging loans, commercial mortgages and development finance. 

The division sits alongside the group’s other areas of business which include asset finance, motor finance and research and development (R&D) tax credits. 

An exciting development 

Baugh said: “We saw that many of our clients needed property finance products as they looked to establish their businesses further. Many of the businesses we work with are at a pivotal stage in their growth where they may be looking to establish a base of operations, expand their current premises or grow the business into new areas.  

“Our construction sector clients also regularly look to acquire or develop commercial properties as well as take advantage of investment opportunities. Property finance products can also be used to effectively leverage current assets for growth and profitability.” 

He added: “With our extensive lender access and product knowledge, we’re able to match clients with the most suitable lenders and products to their specific needs. This ensures competitive rates, favourable terms, and optimal financing options for bridging, commercial property, and development finance.” 

Rory Dunn, managing director of the Approved Group, added: “Approved Property Finance is an exciting development for the Approved Finance Group. We have been facilitating property finance for our clients for over four years, but this dedicated division with its team of property finance specialists demonstrates our commitment to providing best-in-class solutions to our clients.  

“With the rapidly changing lending landscape, it has never been more important for borrowers to utilise the services of an experienced team when reviewing their funding options. The Approved Property Finance team is on hand to take the stress out of property finance and feedback so far has been outstanding.”