Having announced British Business Investments as a lending partner last week, CrowdProperty (www.crowdproperty.com) is pleased to report a new institutional funding partnership, with this latest partner now active and participating in CrowdProperty’s residential development finance facilities.
The partnership is with a UK bank, who has joined as a lending partner in CrowdProperty’s institutional fractionalisation model – financial institutions lending minority fractional parts of loans alongside other institutions and platform investors.
This offering enables institutions to build more diversified portfolios in the relatively lumpy and hard-to-originate UK residential property development market, something which CrowdProperty has offered platform investors for several years.
The partnership further diversifies CrowdProperty’s funding sources, which is core to its ‘diverse sources of capital’ strategy, and brings greater reliability of capital for property developers.
This is particularly critical in times of economic uncertainty to support high quality development projects being undertaken by SME developers.
Mike Bristow, CEO of CrowdProperty, commented: “Reliability of capital is core to us offering finance with speed, ease and certainty – a very purposeful proposition which has been built around the fundamental needs of developers. We are delighted with this latest partnership with a UK bank which further galvanises our reliable offering.”