The new division aims to support SMEs looking for commercial properties
Asset finance brokerage Approved Finance Group has launched Approved Property Finance, its new division designed to support small and medium-sized enterprises (SMEs) looking to expand existing premises or launch new sites.
Approved Property Finance has been launched to complement the group’s other offerings, including asset finance, motor finance, and R&D tax credits, with the new specialist property division dedicated to funding support for business through products, such as bridging loans, commercial mortgages, and development finance.
The division, which will be headed by property finance broker Laurie Baugh, has already secured £5 million of funding in its first few weeks, with a growth target of securing an additional £30 million by the fourth quarter of 2023 for new and existing clients within the group.
“We saw that many of our clients needed property finance products as they looked to establish their businesses further,” related Laurie Baugh (pictured), managing director at Approved Property Finance. “Many of the businesses we work with are at a pivotal stage in their growth, where they may be looking to establish a base of operations, expand their current premises, or grow the business into new areas.
“Our construction sector clients also regularly look to acquire or develop commercial properties, as well as take advantage of investment opportunities.”
Baugh pointed out that property finance products could also be used to effectively leverage current assets for growth and profitability.
“With our extensive lender access and product knowledge, we’re able to match clients with the most suitable lenders and products to their specific needs,” he said. “This ensures competitive rates, favourable terms, and optimal financing options for bridging, commercial property, and development finance.”
Rory Dunn, managing director at Approved Finance Group, explained that with the rapidly changing lending landscape, it had never been more important for borrowers to utilise the services of an experienced team when reviewing their funding options.
“Approved Property Finance is an exciting development for the Approved Finance Group,” Dunn said. “We have been facilitating property finance for our clients for over four years, but this dedicated division with its team of property finance specialists demonstrates our commitment to providing best-in-class solutions to our clients.
“The Approved Property Finance team is on hand to take the stress out of property finance, and feedback so far has been outstanding.”
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