The bank, which launched in April, has provided a commercial loan to Rivergreen Management Pension Fund.
The funding will be used to acquire the long lease of an industrial property in Hartlepool.
The loan has also allowed the fund to increase its presence at the Rivergreen Business Park in Queens Meadow Hartlepool by extending its ownership to three industrial units in total.
The loan was completed in collaboration with Square One Law, who provide legal advice and security documentation.
Stephen Pratt, head of securities and business support at Atom Bank, said: “This transaction is a significant step in Atom Bank signalling it is open for business and will provide innovative and streamlined funding solutions to the market.
“We’ve worked with Square One Law across our business from the start.
“They understand our proposition and can deliver in terms of us achieving quick turnaround times for our customer base, which will promote new benchmarks for the industry.”
Michael Shuker, property partner at Square One Law, said: “We understood the importance of the time scales and managed to complete the transaction in only five weeks by working together in a seamless way for the benefit of the borrower.”
Not long before their initial launch Atom Bank announced the acquisition of a North East IT development business to improve the user experience in banking.
Leave a comment