The fund, which was launched to help entrepreneurs and investors whose growth plans had been hit by the credit crunch, generated £98 million worth of enquiries since April 2009. As a result Bridging Finance (NW) has expanded its panel of North West brokers by 131%.
Steve Barber, director of Bridging Finance (NW) Ltd, said: “We’ve had an incredibly busy 12 months as investors have turned to bridging finance to help them reach their growth ambitions.
“Over the last few years, bridging has become a more recognised form of funding – it is no longer seen as a last resort, instead it is considered to be a more mainstream method of facilitating transactions.
“To build on this we have invested heavily in the company’s infrastructure with the appointment of three non-executive directors and the implementation of a new full case management system, which will support our continued growth over the coming years.”
The Short Term Business Finance Fund offers loans of between £30,000 and £500,000 for up to six months, for a variety of business needs.
