Tiuta reveal £30m of funding and new partnership with Baltic International Bank
Tiuta PLC, the short-term loan lender, has today (15th December 2011) revealed it has secured £30 million of new funding for use during December 2011 and January 2012.
The specialist bridging lender has also secured a separate funding line with Baltic International Bank which offers an initial facility of several million pounds which will grow over the course of the next 12 months.
The two finance initiatives will be used to fund Tiuta’s core business proposition of bridging and short-term loans.
Steven Nicholas, CEO at Tiuta, commented:
“We end this year and enter 2012 with some significant news in terms of Tiuta’s available funding capabilities and an important new relationship with Baltic International Bank. The £30 million of new lending comes from our existing finance sources and we are therefore actively looking to fund a variety of new loans over the course of December and January. Added to this is our new strategic partnership with Baltic International Bank which is providing a separate funding line, enabling us to generate and complete on further business. The Baltic International Bank arrangement begins with finance availability of several million pounds however this is likely to grow as we develop the offering over the course of the year. It is an exciting time for Tiuta and this news should send out the message to our introducers and brokers that we are extremely active in the marketplace, we have a strong appetite to lend and we are actively looking to help their clients secure the finance they need.”