Peer2Peer Finance News
The UK's first peer-to-peer finance magazine for investors and the industry
  • Home
  • News
    • Personal Finance News
    • Industry News
    • SME News
    • Global News
  • Property
  • IFISA
    • IFISA Guide
  • Video
  • Open Banking
  • Cryptocurrency
  • Features
    • Joint Ventures and Promoted Content
  • Comment & Analysis
  • What is P2P?
  • Partners
  • Events
    • Past Events
  • P2P Power 50
    • Power 50 2020
    • Power 50 2019
    • Power 50 2018
    • Power 50 2017
  • Sign up to our e-newsletters
  • Magazine
  • Directory
  • Jobs
  • My Account
    • Manage Account
    • Change Password
    • Log In
    • Log Out
shutterstock_682441177
July 24 2017

Sancus completes £12m funding for Heartlands development

Marc Shoffman Industry News, News Andy Whelan, Funding Knight, GLI Finance, Sancus, Shoosmiths

ALTERNATIVE finance provider Sancus has completed a £12m funding deal for a Scottish property development aiming to promote sustainable living on the site of a former coal mine.

The Heartlands development, situated between Glasgow and Edinburgh, along the M8 corridor, spans around 1,400 acres and combines residential, business and leisure facilities as well as cycle paths and pedestrian zones built from recycled materials sourced at the existing site.

The £12m funding will refinance and provide working capital facilities for the development of the project.

Sancus offers financing and flexible funding to small- and medium-sized enterprises through a range of working capital solutions such as trade and invoice finance. Its peer-to-peer lending brands include Funding Knight, Sancus Finance and Sancus (Gibraltar).

The transaction was completed with advice from the real estate department of law firm Shoosmiths.

“The commercially astute advice and dedication provided by the Shoosmiths’ team ensured the funding deal was completed within a short time frame,” Andy Whelan, chief executive of Sancus, said.

“We look forward to working with the team again on future projects.”

It marks a busy few weeks for the GLI Finance-owned brands after its Funding Knight invoice finance platform gained full authorisation from the Financial Conduct Authority (FCA) earlier this month.

GLI Finance is undergoing a broader overhaul, which was prompted last year by ongoing cumulative losses, and entailed selling off a number of assets and streamlining subsidiaries’ operations.

Zopa signs up to artificial intelligence credit scorer Aire How does P2P stack up against other investments?

Related Posts

THP_7598 (1)

Global News, Industry News, News, Property, Top 3

Property Bridges launches auto-invest product

Person Flying Car Over Declining Stacked Coins

Industry News, News, Top 3

Second charge mortgage and car finance markets contract

woman using laptop, searching web, browsing information, having workplace at home  / soft focus picture / Vintage concept

Industry News, News, Top 3

Kuflink launches search feature for select invest deals

Popular posts:

  • JP Morgan chief predicts shift to non-bank lending
  • FCA has increased surveillance over last 12 months
  • P2P veteran joins bridging lender
  • Recovery loan scheme opens today
  • SMEs warned they could be excluded from recovery loan scheme
  • Every IFISA that is open for investment right now
Back To Top
  • Home
  • Contact
  • About
  • Team
  • Advertising
  • Subscribe
  • Privacy
  • T&Cs
  • Disclaimer

Follow Us on Social Media

© Peer2Peer Finance News 2020
• Additional design by