The lender will continue to privately fund its deals and only utilise the new funding if required as a backstop.
Speaking to Bridging & Commercial, Rudy Metta, director at Rockbridge Capital, said that the facility would allow it to provide more volume and flexibility.
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“This will allow us at Rockbridge to backstop any deal going forward if required and, at the same time, deploy the funds to expand our loan book.
“We secured the facility at a relatively low cost.”
Rockbridge — which lends primarily in the UK — has positioned itself in the market to lend against slightly more complex, unregulated deals that require the lender’s commercial input.
Rudy stated that its goal for this year was to find a strong BDM and grow organically.
“We are very selective when looking at a deal and will only move forward if we like the security element and returns meet our parameters.”
Earlier this year, Rockbridge revealed to B&C that it had surpassed its 2018 lending targets with approximately £20m of lending.