The funding has enabled the second phase of development of The Gate, which comprises 64 one and two-bedroom apartments.
Paragon Bank has provided an £8m funding package to Horsnall Holdings Ltd to support the construction of homes in Loughborough.
The funding has enabled the second phase of development of The Gate, which comprises 64 one and two-bedroom apartments; Paragon also previously funded phase one of the development, The Mill.
This is the sixth development that the bank has supported Horsnall Holdings with.
Mark Horsnall, director at Horsnall Holdings, said: “The support from Paragon has enabled more much-needed housing to be developed in the Loughborough area.
“The Gate offers high-quality housing in a convenient location, in the heart of Loughborough’s desirable Waterside Village.
“We have worked closely with Paragon for a number of years now on projects of varying sizes. The whole team has a great understanding of the industry and has always been keen to assist us with funding.
“Paragon’s continued support has helped us to grow our business significantly over the last few years.
“Monthly valuations and draw down are simple, hassle free and always paid within a few days of submission.”