£125m Funding Programme Launches for SME Housing Developers

 

Hilltop Credit Partners is a new specialist funding partner for small and mid-sized UK residential property developers and housebuilders. The company is providing finance to SME developers who have track records of delivery but struggle to gain finance from traditional sources, such as high street banks.

Through the programme, tailored funding solutions will be provided to help SMEs grow their businesses and meet the increasing demand for affordable housing.

The programme has an overall budget of £125 million. It will provide a tailored one-stop funding solution for up to 90% loan to cost, with loans ranging from £3 million to £20 million. The Developer equity contribution will be at least 10%. Credit may be given for equity in land contributed, or other collateral, at fair market value.

Developments will comprise mainstream housing and alternative residential accommodation, including student housing and supported living, in areas in England, Wales and Northern Ireland with strong supply/demand dynamics.

Paul Oberschneider, Founder and CEO of Hilltop Credit Partners, said:

"Our joint venture with Round Hill Capital brings together our collective experience and skills to support proven SME housebuilders throughout the UK, and to help promote greater housing supply that is more affordable than what the large housebuilders focus on delivering.

"We look forward to continuing to significantly expand our development lending portfolio diversified across the UK, with a target to deploy in excess of £125 million over the next 12 months."

 

More information about this funding opportunity and the application process is available on the GRANTfinder funding information platform. GRANTfinder provides up-to-the minute content, insight and analysis on funding news and policy. To find out more about how GRANTfinder can keep you in the know, and subscription fees, contact us today.