SME finance provider Assetz Capital ups day one advances limit

  • 19/06/2024
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SME finance provider Assetz Capital ups day one advances limit
SME finance provider Assetz Capital will now offer stronger initial day one advances to developers on schemes up to 70% loan to gross development value (LTGDV).

Assetz Capital said that the “strategic offer” offers to “equip housebuilders with robust financial support from the outset, facilitating smoother project execution”.

The SME finance provider said the offer is available across England, Scotland, Wales and Northern Ireland through its teams.

Assetz Capital said that it could access more “substantial initial funding, facilitating better cash flow and project planning.”

Andrew Fraser, chief commercial officer at Assetz Capital, said: “At Assetz, having lent over £1.7bn, funding one in 12 new build homes throughout [the] UK, we understand that initial funding through a larger cash advance is crucial to the success of development projects.

“Our enhanced offer demonstrates our commitment to supporting developers with the financial resources they need from day one, allowing greater certainty around cash flow. Affordable, reliable and fast funding is what our clients want.

“This enhancement will provide significant value to our developer clients, helping them manage [the] supply chain and ensuring they remain as liquid as possible.”

The SME finance provider said that it is gearing up to exceed £2bn in lending in the next two years, and recently struck a partnership with Aros Kapital.

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