Tiuta PLC says June proved to be another strong month for the short-term lender.
Last month the bridging loan firm completed £16 million worth of loans and also brought in over £10 million in redemptions.
The redemption figure covers loans that have been redeemed by the borrowers allowing Tiuta to re-invest this money into new deals.
The lender says it is confident that both monthly and quarterly performance will also improve throughout the rest of 2011 and says it has a large pipeline of business based on a strong level of demand for short-term finance products.
Tiuta has however voiced disappointment in the lack of appetite of the mainstream banks to lend it has already voiced concern that there are no signs of improvement in the banks’ lending levels to small and medium-sized businesses in particular, with most banks also unwilling to provide funding through lenders such as Tiuta who could help many more firms if this was the case.
Steven Nicholas , CEO of Tiuta, said: “June levels of lending and redemptions have followed the same pattern as May with a continued improvement in both
