PEER-TO-PEER business lending platform Assetz Capital is aiming to boost its commercial mortgage lending through a partnership with specialist packager Positive Lending.
Assetz Capital, which recently announced 3,000 investors had started the process of setting up an Innovative Finance ISA (IFISA) with the lender, provides alternative loans to small- and medium-sized enterprises (SME) and property developers in the UK.
“Our position on Positive Lending’s panel will open a host of new funding avenues for commercial mortgage intermediaries and their borrowers,” said Damien Druce (pictured), director and head of intermediary sales at Assetz Capital.
“We have already seen the fruits of this partnership being borne, with one loan completed and another two in the pipeline. We look forward to building on these successes.”
Positive Lending works to process mortgage applications on behalf of brokers and structures over £1bn of transactions a year.
“As a reputable specialist distributor we are always looking for additional value for our 5,000 intermediaries,” said Positive Lending chief executive Paul McGonigle.
“Assetz Capital’s product range offers just this, and the exceptional start to our relationship can be pointed towards our combined experience and excellent service proposition.”