Short term lender, Bridging Finance Solutions (BFS), has doubled its lending over the past year.
The firm says it is set to further build on this figure in 2022, projecting an added 20% growth in coming months.
In order to facilitate this level of growth, the specialist lender has strengthened its team to a total of 20 permanent staff from its Wirral based headquarters, with more appointments to be made in the year ahead to support the continued growth plans.
Steve Barber (pictured), managing director at BFS, said: “We have been quite staggered by the demand for safe and secure specialist lending during the past 12 months and have facilitated this through a carefully planned growth strategy. As an independent, FCA regulated business, we are agile and reactive, strengthening resources to meet this demand.
“We’ve experienced growth in both key areas of the business in both bridging loans and development loans. We are welcoming both repeat business and new customers seeking support for regulated self-build development and residential development, refurbishments and conversions.
“We continue to consolidate our position within our niche area of the market which sits primarily in the sub £2 million market and the North, however, we are expanding geographically. Delivering an exceptional service through personalised account managers and digital marketing remains our over-arching commitment and is the foundation on which all our growth is based.
“I believe that demand for specialist lending will continue as high street banks remain cautious as they continue to manage the impact of government led financial borrowing including the Coronavirus Business Interruption Loan Scheme and British Bank Loan Scheme. Increasingly, specialist lending is being recognised as part of a proactive and viable solution by borrowers, brokers and professional advisors, and we are undoubtedly an important part of this movement.”
