Short term property finance specialist PMJ Capital, has bolstered its funding stream with significant investment from an institution backed facility.
The investment will enable PMJ to work with more developers across the UK but predominately focused in the North West.
David Rainford, managing director at PMJ Capital said: “This funding stream provides a greater opportunity for us to support SME developers with bridging and refurbishment finance for residential conversions, development exit facilities, part-built finish and exit.”
“We are also able to increase our loan values to £3m, £5m in some exceptions, with 24-month terms.
“Our service, however, stays the same. We remain independent lenders, able to make flexible and informed decisions, enabling SME developers to get the answer they need and develop much needed residential projects.”
“We are working with over 50 developers, some of whom we are on their sixth and seventh project with. We’re keen to support even more and would be delighted to speak to developers who are purchasing properties with the intention of undertaking refurbishment or conversion works (including PDR schemes) or looking to refinance completed projects to allow further time to sell or indeed release equity to assist with other projects”
PMJ announced in May that it had reached a significant milestone – providing over £200 million of funding – to SME developers and entrepreneurs. Established in 2015, the company is led by a management team with skills across business, property investment, accountancy, legal and specialist property finance.
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