Specialist lender launches new £40m fund

Specialist lender launches new £40m fund




Ortus Secured Finance has launched a £40m fund for businesses in the UK leisure sector and commercial property in Northern Ireland.

Ortus Secured Finance has launched a £40m fund for businesses in the UK leisure sector and commercial property in Northern Ireland.

The fund will specialise in short-term lending to pubs, hotels and nightclubs across the UK and commercial property in Northern Ireland, where Ortus launched at the end of last year.

Richard Beenstock, CEO, says: “This new fund will help bridge the lending gap in what has remained a very underserved part of the market since the credit crunch.

“Many UK leisure businesses are still struggling to secure the funding they need from traditional high street banks.”

“The leisure industry, from pubs to restaurants, is going through a period of rapid change and those operators that cannot secure competitive finance are going to be at a substantial disadvantage.

“We are one of the few lenders who have a strong appetite to lend to there, but we believe there are plenty of good opportunities to provide finance.”

In December, Ortus announced it was set to increase its loan book by £40m after closing a fund that was established as a Jersey limited partnership. 

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