Duo generate more than £2.5m worth of loans

A PARTNERSHIP between a finance provider and an asset finance lending platform has generated more than £2.5m worth of loans in the second quarter of 2016.

The collaboration between Leeds-based Access Commercial Finance and Ablrate has resulted in deals for a range of sectors, including an £800,000 funding boost for a previously mothballed Eco Park, near Newcastle – with a further £1.4m to follow.

Other loans that have been raised include half a million pounds worth of finance for Catfoss cabins, and over £275,000 for Leeds-based bar operator Burningnight, which owns a number of brands including Bierkeller, Around the World and Shooters.

David Bradley-Ward, chief executive of Ablrate, said: “Origination is always key to developing a successful platform and our partnership with Access has created loans close to £2.5m in the last quarter with a further £2m in the pipeline.”

Ablrate was set up last year in response to a gap in the market for a platform that offered quality loans for asset finance that weren’t too restrictive.

Matt Haycox, from Access Finance, said: “By teaming up with Ablrate, we’ve been able to provide some amazing deals recently, for some really exciting, ambitious firms, and there will be much more to come through this partnership.”