Bridging Finance Solutions sees large rise in turnover

Merseyside short term lender, Bridging Finance Solutions Group, has reported a 41% rise in turnover one year on from the launch of its £20 million Short Term Business Finance Fund.

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.

Bridging Finance Solutions says this has resulted in the panel of North West brokers growing by 131%.

The lender also claimed a 46% year-on-year rise in loans written in the same period.

The firm did not disclose actual figures.

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."

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