Onate secures new €50m funding line from NatWest Bank
Irish property bridge finance lender Onate, have today announced a €50m funding line from National Westminster Bank (NatWest), one of the leading financial institutions in the United Kingdom.
This new facility joins Onate’s existing institutional funding lines and bond programme.
This diversity of funding sources, each of which sees all lending decisions made in-house, sets Onate apart from many other non-bank lenders in their ability to execute at speed.
This next step in Onate’s continued expansion, comes shortly after the company’s recent announcement of the establishment of its secured note programme listed on the MTF operated by the Vienna Stock Exchange.
Dan Gandesha, Onate CEO said:
“Our property bridge loan offering is simple, we give borrowers a fast yes or no and follow through at pace.
NatWest share our passion for this and we’re delighted to be partnering with them.
We now have three institutional lines and a listed Bond programme. In each case, all credit decisions remain in house and in Ireland.
That’s why we can lend on a diverse range of property deals, and have a strong track record of doing so in under ten days.
We look forward to working with Natwest over the months and years ahead to build upon this”.
Matt Whittle, Relationship Director at NatWest, said:
“We are pleased to have supported Onate with a financing solution to meet its growth ambitions.
This facility provides further diversification and sets the business up to capitalise on their success to date.
It’s been a pleasure working with Dan and his team and we look forward to a long-term partnership”.