The specialist property lender has passed the milestone of total loans originated.
Zorin Finance, the alternative property lending specialist, has passed £300m of loans funded.
The lending platform was founded in 2011 by Luke Townsend to provide development finance to UK SME property devolpers.
It says its versatile funding lines and lack of traditional fixed overheads allows tlend faster and more flexibly lending compared to traditional banks and has now funded a total of 94 loans with zero capital losses.
Facilities are typically drawn within 6 weeks of applications being received, the firm says.
Luke Townsend, CEO of Zorin Finance, added “Zorin Finance’s growth has been exponential over the past year as a result of the shortage of fast and flexible funding offered to SME developers. The fact that we’ve lent an incredible £180m in 2017 is credit to our highly experienced team combined with a first-class service.
Alternative lending in residential development is growing meteorically each year, with traditional lending in decline.
Zorin typically offers development finance and bridging loans for between £1m and £50m and, unlike traditional lenders, is able to offer loans up to 90 per cent of loan-to- cost and 70 per cent of loan to GDV.