Merchant Money Backs Small and Mid-Sized Developers with Bridging Loans

By Bridging Loan Directory 26th September 2022

Merchant Money continues to grow its property loan portfolio after a successful launch in 2020.

Their most recent deal, a £1.15m loan over a 12-month term arose when an existing lender could not meet the turnaround times and terms required by the developer.

The loan enabled the developer to buy a development site, where he plans to demolish the existing structure and replace it with four high specification, new build units.

At the end of the term, he will exit the loan by refinancing onto a development finance loan.

CEO Luke Jooste commented:

‘Whilst there are a number of established players in the property finance segment, there is a genuine need for support for the small to mid-sized developers who can often find It harder to obtain credit.

As experienced SME lenders we feel well placed to serve their needs.’