Assetz Capital has snagged £200m to bolster small business support in mortgage lending - Mortgage News
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Assetz Capital snags £200m to bolster small business support
Assetz Capital has snagged
£200m in investment to help
support smaller businesses through the UK’s economic turbulence, City A.M. can
reveal today.
The British lender, which
allows private and institutional investors to loan money directly to small
businesses and property developers, can now lend up to £900m in
commercial mortgage lending.
The funding, from
London-based Aeon Investments, will be injected over the next three years, and
will see Assetz further diversify its mortgage lending and bolster its capacity
to lend to the UK’s SMEs.
Aeon investment is the latest
in a string of capital shots into the country’s real estate sector, which has
been particularly resilient in the face of spiralling inflation. Bosses at
the investment firm have been impressed by the commercial real estate debt
asset class, which has retained attractive values.
Assetz will now also be able to provide commercial
mortgages of up to £10m on commercial investment properties. The need
for SME funding has never been more apparent as an increasing
number of traditional lenders aren’t offering financing solutions to SMEs,
Assetz CEO Stuart Law said in a statement. “Together, through innovative
and alternative financing we can enable UK businesses to grow and scale
up".
Read More: BMO Economist Says Typical mortgage payment to climb more than 50%
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