Spring Finance (Spring) has announced that it has recently completed on a funding line with Aldermore Bank, which will be used to finance its bridging loans.

The specialist lender launched its specialist bridging proposition just over a year ago. The new Aldermore facility sits alongside Spring’s existing facilities with Natwest and Hampshire Trust Bank.

This additional funding will allow the company to continue its growth plans.

Andrew Bloom (pictured), CEO of Spring, said: “We are delighted to have completed on our third bridging funding line. It is a testament to the strength of the team and Spring’s proposition, that despite the challenging economic climate, Aldermore has agreed to support us.

“Securing the right mix of funding is key and this stands us in good stead to achieve our ambitious growth targets.”

Matthew McNeile, business development manager at Aldermore Bank, added: “We are pleased to welcome Spring, who recently completed on an Aldermore Block Bridging facility. It’s important for us at Aldermore to partner with the right businesses to help them achieve their ambitions and we’re excited to get to work with Spring.

“We look forward to a long and successful partnership, supporting their ongoing growth ambition.”