Candy backs Omni Capital to reach £1 billion
By Bridging Loan Directory -
Christian Candy-backed CPC Group has pledged continued funding and financial support for Omni Capital, its specialist short-term lender subsidiary, to help the company achieve its lending target of up to £1 billion in the next two to three years.
Omni Capital enjoyed a record start to 2012, lending £100 million in the first six months of the year. Since then, new property-backed lending has continued to flow allowing the lender to increase its upper loan maximum from £7.5 million to £25 million. Most recently, Omni Capital revealed details of a £20 million ‘super bridge’ loan for a high-end residential development in Surrey .
Having identified a number of areas where there is overwhelming borrower demand following the withdrawal of bank funding, the company’s two-year strategy will see the introduction of a number of new products in both the residential and commercial property development sectors. For its distribution, Omni Capital will continue to rely on intermediaries.
Christian Candy, founder of CPC Group, said:
“Since Colin Sanders was appointed as Omni Capital’s new chief executive officer last year, he has pieced together a highly experienced management team and made significant investment in the operations and infrastructure for the business, meaning it is well positioned to serve more customers with new products.”
“With the increasingly high demand for large value short-terms loans from developers and investors, Omni Capital is filling the gaps left by the banks and providing borrowers with an alternative solution. With Omni Capital’s guaranteed and substantial in-house funding and recent track record, we believe that by 2014 we will have developed the Omni Capital brand in new financial services markets and built a multiple product business.”
Colin Sanders added:
“Omni Capital enjoys solid support from CPC Group, providing the company with direct access to substantial in-house funds and multi-layered back office expertise. Together, I’m confident we can build on our verifiable success in the bridging sector to move Omni Capital into new property-focused markets and product arenas. In doing so, our intermediary partners will feature large.”