The additional capital will support the lender's expansion in specialist finance
Specialist lender Spring Finance has secured a new funding line with Shawbrook Bank to bolster its development finance products, which were introduced to the market in June 2024.
This facility adds to Spring’s existing funding arrangements with NatWest, Hampshire Trust Bank, and Aldermore Bank.
The additional capital is expected to support the lender’s continued expansion in the specialist finance sector. Recently, Spring also partnered with Optalitix and LendingMetrics to enhance its mortgage division with an advanced origination and decision-making engine.
“We are delighted to have completed on our fourth institutional funding line,” said Andrew Bloom (pictured left), chief executive of Spring Finance. “It is a testament to the strength of the team and the robustness of Spring’s lending proposition, that despite the challenging economic climate, Shawbrook has agreed to support us. Securing the right mix of funding is key and this new facility positions us well to achieve our ambitious growth targets.”
Claire Newman (pictured centre), director of bridging and development finance at Spring, said they were looking forward to working with the Shawbrook team as they continue to grow the development finance division.
“The addition of Shawbrook to our funding lines is the latest positive news from Spring following the recent announcement of our development finance launch,” she added.
Warren Mutch (pictured right), head of speciality finance at Shawbrook Bank, also said they were pleased to complete the transaction and “to be supporting Spring with the next phase of their journey.”
“We have known Andrew, Claire and the Spring team for a number of years and have been impressed with their performance and growth trajectory,” he stated.
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