CapitalRise secures £30 million funding line for bridging loans
Summary
CapitalRise, a leading prime property finance company, has successfully secured a new \xa330 million funding line with a prominent UK bank.This latest funding round aims to meet the surging demand for bridging finance and reinforces the companys strong relationship with its banking partner, which has seen several successful deals closed together.The newly acquired capital will be allocated to bridging loans in Prime Central London (PCL) and high-end residential assets in Outer London and the Home Counties. These enhancements have considerably boosted the companys lending capacity, incorporating a revolver mechanism to efficiently redeploy redeemed funds and maximise lending potential.As part of its expansion efforts, CapitalRise recently appointed Imogen Williams as Business Development Director. With 11 years of industry experience and a specialism in short-term finance, Imogen is set to drive further growth in the firms bridging loan book.Uma Rajah, CEO and Co-Founder of CapitalRise, commented: Securing this additional \xa330 million funding line for bridging loans further supports the diversification of our capital sources, ensuring a robust funding model. We are thrilled to secure this new funding line as part of our continued commitment to serving our clients with bespoke financial solutions.Pip Lashko-Sayers, Associate Director (Capital Markets) at CapitalRise, added: The new funding line not only helps us to meet the growing demand for bridging finance but also builds on our strong partnership with this renowned UK bank, with whom we have had a relationship for the past seven years. Having completed several transactions together during this time, it is great to now formalise and expand the relationship with this latest funding line.