CrowdProperty (www.crowdproperty.com) is delighted to announce the launch of CP Capital (www.cpcapital.com), its second charge mezzanine finance product for property developers. CP Capital exists to serve developers’ additional funding needs, backed by the deep property expertise, disruptive fintech / proptech business model, absolute customer focus and reliable diverse sources of capital that CrowdProperty has proven over many years.
As ‘property finance by property people’, CrowdProperty is dedicated to meeting the needs of the SME developer market in the UK and internationally, bringing back customer focus and changing the game of property project finance. Over recent years, CrowdProperty’s property developer customers have consistently fed back that they would value mezzanine finance for their projects and the expert team at CrowdProperty is well placed to deliver this funding with the speed, ease, certainty, transparency and support developers need.
Mezzanine finance via the CP Capital product line enables property professionals to access further project funding requirements that are not met by the senior debt finance market. Senior debt typically accounts for 75-80% of total costs; mezzanine finance can top this up to finance up to 95% of costs.
There are many applications of mezzanine finance and CP Capital can support projects at any stage, for example: to purchase a property in order to move to development; to cover additional costs incurred as a result of external factors; or on completion of a project where value has already been created.
The new CP Capital product line goes further to deliver on CrowdProperty’s mission to transform property finance to unlock the power of SME property developers - to build more homes, increase spend in the economy on labour, materials and services and grow their businesses quicker.
Mike Bristow, CEO at CrowdProperty, commented:“CrowdProperty has provided property developers with senior, first charge development finance, backed by diverse sources of capital across major global financial institutions and private investors, since 2014. CrowdProperty’s founders have a mission to transform property finance, stemming from their own experiences of the development finance market which had let down small and medium sized developers for years. Having disrupted the market to solve the pains around securing senior development finance by backing £450m of property projects to date, CrowdProperty is now able to serve additional funding needs of UK property developers by offering mezzanine finance through our CP Capital product line - bringing senior and junior finance under one roof, with powerful benefits to developers. This is yet another way in which CrowdProperty strives to deliver an exceptional customer experience, enabling developers to work with a single capital provider across their projects and capital requirements.”