The Government’s housing delivery agency, Homes England, together with United Trust Bank, an established specialist lender, have announced a £250 million fund to support small and medium-sized builders.
The Housing Accelerator Fund will provide construction loans between £1 million and £10 million. The aim is to improve access to finance for smaller builders and drive the diversification of the housing market over the coming years.
The scheme is designed for the development of new housing, new build as well as conversions of existing buildings.
Small and medium housebuilders in England may apply. Funded activities will take place in areas under the greatest housing affordability pressure.
Applicants must be UK registered companies or limited liability partnerships with demonstrable experience of completing a minimum of three projects of similar size and nature.
Gordon More, Chief Investment Officer of Homes England said:
'In line with Homes England’s commitment to supporting SMEs [the Fund] will help smaller builders get on and build now, as well as improve the lending landscape for SMEs by driving competition in the market, improving choice and encouraging innovation.'
Applications are being accepted now and there is no set deadline.
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.