Since 2013, the Manchester-based firm has provided a range of alternative finance products to companies and property developers across the country including commercial mortgages, secured SME term loans, development finance, bridging finance and residential refurbishment loans.
Over the last 12 months, the majority of money lent by Assetz has been in the form of development finance loans. Across 147 deals, it has provided £170m worth of investment, which has led to the construction of 1,706 homes.
Additionally, Assetz has funded 124 commercial mortgages valued at £63m in the past year. Prior to this, it had lent £84m worth since its inception.
To account for the growing number of enquiries across the country, the company has expanded its presence across the UK with the appointment of additional relationship directors Shami Sharma in the South East and David Reed in Yorkshire.
Chief executive and founder Stuart Law said: “In recent years, peer-to-peer loans have become more popular amongst the underserved small and medium business owners across the UK, acting as an increasingly sought-after alternative to bank loans.
“Banks have stepped back from this middle ground of £200,000-£10m secured loans and in particular from SME house builders, where the cost of originating and servicing these loans, or the cost of capital has driven them from this large sector.
“Having added £300m to our lending balance in only one year, we are rapidly approaching the £1bn total lending milestone, and we expect to maintain this momentum for the rest of the year.”
