Newable Finance sources £86m lending in first trading year
Newable Finance, the specialist brokerage and advisory service arm of Newable, has sourced £86m of debt in its first full year of trading, reflecting strong appetite for its services that help SMEs navigate the increasingly complex lending landscape.
The majority of finance has been sourced for the property sector including bridging and development finance, auction finance, commercial mortgages and buy-to-let portfolio finance.
Newable Finance typically sources lending for SMEs and property-backed businesses that are typically looking to borrow up to £10m, with access to over 150 lenders ranging from high street to specialist and introducer-only.
Phil Reynolds, managing director of Newable Finance, comments: “Despite the challenges associated with the pandemic, we have enjoyed a strong first year, supporting SMEs with their lending requirements across the UK. Bricks & mortar remains an attractive asset class, with many people looking to start or scale up their projects and portfolios.”
Throughout the year transactions have been made nationwide, with London being the most popular region for enquiries for both commercial and residential bridging.
Newable Finance is part of Newable, a multi-faceted business that supports SMEs at every stage of their business development through the provision of money, workspace and advice, helping over 43,000 businesses each year thrive.