Alternative Bridging Corporation (ABC) has agreed a new funding relationship of up to £200m to support both current demand for its loans and its business growth.
The new warehouse facility from an undisclosed high-street banking brand will provide Alternative Bridging with additional low-cost funding, enabling it to offer more competitive rates for its areas of lending, which includes residential and commercial bridging, development finance, term loans and the Alternative Overdraft.
Stephen Meller (pictured), director at Alternative Bridging Corporation, said: “This new funding relationship signals the dawn of a new era for Alternative Bridging as we enter the next exciting phase in the continued growth of our business. Securing the support of such a prominent high-street bank, at competitive pricing, demonstrates the strength of our lending proposition, which combines a robust approach to underwriting alongside a can-do attitude to getting good deals over the line”
“Alternative Bridging is a long-standing originator in the short-term lending market and this additional, competitively priced facility will see the business through to its next growth phase.
“We’re really excited to have this additional line to assist our plans for the future and would all like to thank the broking community who have supported and enabled us to attain the necessary scale to achieve this milestone.”
