Aldermore provides block bridging facility to specialist lender
Aldermore bank has provided a multi-million pound block bridging facility to SDKA Ltd, which will provide the funding they need to continue to accelerate their growth plans.
Established in 2016, SDKA is a principle, specialist lender offering short-term bridge finance secured against residential, mixed-use and commercial properties in England and Wales. SDKA is based in Cheadle, South Manchester.
Aldermore’s block bridging allows independent funders to raise capital against future income from bridging finance contracts in place between them and their customers. The finance will provide SDKA with the funding to support building their bridging lending portfolio, giving SMEs and individual customers greater access to funding.
Matthew McNeile, business development manager for asset finance at Aldermore said: “We’re pleased to be able to provide a new block bridging facility for SDKA, and we look forward to supporting their ongoing development and growth. SDKA’s established performing book, comprehensive end to end system and its ability to make robust lending decisions quickly and decisively, is what attracted us to their business. We’re delighted to be part of their funding panel and look forward to supporting Kunal and the team.”
Kunal Mehta, managing director of SDKA Ltd said: “I’m delighted to have established a strategic partnership with Aldermore bank allowing us to further grow our loan book. Their endorsement has a beneficial impact to our offering and our clients when they require bridging finance. It’s a testament to the exceptional team at SDKA that Aldermore have provided this facility with full autonomy on how we lend. Aldermore have shown confidence in our underwriting processes, bespoke technology and commitment to deliver outstanding service to our clients. We’re a lender that has built a strong reputation for dealing with complex cases and loans that need to complete quickly, which Aldermore fully support us with.”
Aldermore’s block bridging product is core to their wholesale offering, offering benefits to Aldermore, independent funders like SDKA and the customers they serve.
