Brickflow conducts 1,857 bridging loan searches in Q1 2024

Brickflow has announced a record-breaking first quarter of 2024, demonstrating significant growth in loan searches, DIP requests, and platform usage.

Brickflow, which offers bridging, commercial and development finance from over 100 lenders, also smashed a number of its existing records, in its most successful three-month period since launch.

The company saw 50% more loan searches than the whole of 2023, conducting a staggering 2,966 loan searches in the first three months of the year, exceeding the total number of searches conducted for the entirety of 2023.

Bridging loans made up 1,857 of these, with 641 being commercial loans and the remainder (468) being development finance. 

Brickflow also experienced a record-breaking month for platform usage, with 1,084 loan searches conducted within just 31 days in March, highlighting the growing demand for streamlined and efficient funding within the CRE market.

The digital marketplace saw total of 784 DIP requests submitted through the platform by the 190+ brokerage companies currently using its technology to secure funding.

In addition, Brickflow facilitated a new record for the fastest DIP ever issued through the platform, with a lender providing a decision in just 7 minutes.

Ian Humphreys, CEO and founder of Brickflow (pictured above), commented: “The CRE market is evolving and intermediaries, borrowers and even lenders are now realising that utilising technology to secure deals is key to staying competitive.

“Both adoption and usage are increasing as the market moves away from the archaic manual process for securing funding, to a new default behaviour – leveraging Brickflow to facilitate increased efficiency, connectivity and communication.”

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