Specialist commercial finance broker Positive Commercial Finance is celebrating the tenth anniversary of its creation.
Incorporated in November 2007, Positive have established themselves as a driving force in short-term property finance, with the vast majority of fee income derived from development finance, working with over 400 developer clients over the past decade.
Turnover has increased each year, at a minimum growth rate at 25% year on year, with the highest single year growth percentage being 29% in 2016.
Loan sizes range have ranged from £50,000 to complete works on a part-built house, to £28m to build a mixed-use apartment and commercial scheme in city centre Manchester.
In the last year Positive Commercial Finance has funded over 1,000 new build units, with turnover in the first eight months of 2017 surpassing the 2016 high. In 2017 it is already 15% up on last year, with pipeline deals amounting to £100m, of which £37.5m has been formally offered.
John Waddicker, director at Positive Commercial Finance, said: “We are delighted to have reached such a significant milestone and are proud of our achievements in the last ten years.
“We believe our success is borne from our experience, our funding contacts, and the way we structure deals to make sure they work for all parties. More recently, equity participation has become much more regular, with deals being done on a joint venture basis.
“Positive has facilitated many success stories where developers had tried numerous other brokers without success, but with our guidance and input where then able to access finance via our panel. We can confidently state that our private funding sources have funded deals which no other lenders had an appetite for. Here’s to the next 10 years.”