Zenzic Development Finance has secured a three-year funding line up to £45m, from Cynergy Bank. Led by, Simon Brown, head of lending, ZDF is the newly rebranded residential development finance arm of Zenzic Capital.
The new funding line allows ZDF to triple its maximum loan size from £5m to £15m and will support the firm’s ambition to triple lending volumes in 2025.
ZDF’s offering is focused on residential-led schemes and provides SME housebuilders and developers up to 75% loan-to-GDV and 90% loan-to-cost stretch senior development finance and up to 85% loan-to-GDV and 90% loan-to-cost mezzanine finance.
Nadine Buckland, co-founder and chief executive of Zenzic Capital, said: “This new funding line will allow the newly rebranded ZDF team to accelerate its lending volumes and tap into the significant demand from SME housebuilders and developers for financing in a challenging macroeconomic environment. The UK is relying on these businesses to address the country’s acute housing shortage and we take our role in supporting them very seriously.
“Cynergy is one of the UK’s leading challenger banks and in them we have a like-minded capital partner that we look forward to working with in financing the best counterparties and schemes across the UK.”
Image: The ZDF team – (l-r) Richard Clouston, Simon Brown, Chris Blowers and Eddie Barnes
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