Bridging
Hope Capital secures £25m funding line with Shawbrook
Specialist short-term lender Hope Capital has agreed a “committed facility” with Shawbrook Bank which will offer up to £25m in funding.
The lender said that the funding will be essential in supporting its “ambitions as it looks to develop its proposition and achieve further growth”.
Hope Capital was founded in 2011 and it lends against residential, semi-commercial, commercial and land deals with planning permission.
Kate Cowan, chief financial officer at Hope Capital, said: “The provision of this new funding is extremely well timed to support our growth plans.
“We’re now in an even better position to help our brokers and borrowers who are looking for tailored bridging loans, which sets us up ideally as we look to our strategy for 2024.”
She continued that the firm was “experiencing an extremely successful period, with significant growth in enquiries and completions”.
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“To have Shawbrook join our funding panel will be instrumental and we’re very grateful to their team for this fantastic opportunity,” Cowan added.
Warren Mutch, head of speciality finance at Shawbrook, continued: “We’re delighted to be supporting Jonathan, Kate and the team at Hope. The business is highly regarded in its market and well positioned for growth, and our committed funding line is targeted to support them into 2024 and beyond.”