Assetz Capital reinforces its broker support and has record month
Assetz Capital has outlined its intentions to further develop its nationwide broker network, supported by its rapidly growing regional relationship director team.
Since its inception in 2014, brokers have played a vital role in referring many SMEs to Assetz Capital for lending on its peer-to-peer platform. To date, more than 350 successfully funded projects have come through brokers, and the company predicts that this will grow to approaching 1,000 by the end of 2018.
Assetz Capital is looking to increase its active broker network significantly in the next two years, and has revealed its strategy is to further support brokers through a number of methods. This includes using its unique network of nationwide regional relationship directors to locally support more brokers, further product and pricing improvements, dedicated staff in the head office to provide telephone based support on initial enquiries and also for progressing transactions to draw down and a series of regional broker events which are specifically aimed at educating and supporting brokers. The first of these events has already taken place in Edinburgh and several more are to be announced shortly.
The Assetz Capital model is based on loans backed by tangible assets, therefore having a well informed and engaged broker network will benefit both small businesses looking for the right options for them, as well as adding another layer to its rigorous due diligence process.
Stuart Law, CEO of Assetz Capital, said:
“While some of our business has come directly from SME businesses, the significance of the broker market is not to be underestimated in their contribution to Assetz Capital’s continued growth and success. We see brokers as truly complimentary to our direct offering, and as the alternative finance market develops, they will play an even more important role. We would like to thank all of our brokers who have helped us lend around £300m to businesses. With rates on commercial mortgages starting from 6.9%, development finance from 7.9%, bridging from 0.65% pm and renewables from 8.9% we are seeing real traction on winning business. Indeed, in June for example we advanced a new record £31m facilities and also had a record quarter of £60m+ of facilities. In fact in June development lending alone was approximately 4% of the entire development funding provided by all UK banks (based on BBA data). It is great to be supporting UK SME’s and smaller house builders to such a level.
“Our new strategy will provide further support to our existing network of brokers as well as to help new ones make the most out of the multiple opportunities which our competitive finance presents to them. We would love to hear from more brokers looking for flexible and well-priced lending partner.”