Friday, May 20, 2016

Recap of Mint's 100m Joint Venture (Manchester Evening News)

Mint Bridging and Mark Abrahams launch £100m lending business

The new business will run alongside the existing Mint Bridging operation but focus on: higher value, lower first charge loans and low risk development loans.
Altrincham-based Mint Bridging has entered into a joint venture with the former founder of West One loans, Mark Abrahams, to establish MBS.
The new business will run alongside the existing Mint Bridging operation but focus on: higher value, lower first charge loans and low risk development loans.
They will be funded by experienced investors to the short term property lending market, on a syndicated basis.
Family-run Mint Bridging intends to grow the new loan book to over £100,000,000 with the emphasis on geographical diversification and areas of high liquidity.
The syndication partnership has been piloted since January 2016 and has already funded several million pounds of loans to date.
Managing director, Andrew Lazare said: "For five years of building the business, we’re now seeing over 820 per cent growth compared to prior year same quarters.
"This recent news announcement has generated outstanding media coverage, nudging Mint’s brand as a justified rising star. Partnering with Mark now firmly places Mint Bridging on the map."
Mark added: “Since West One’s acquisition, many business opportunities have ventured my way.
“But what struck me is how fast Mint has grown and Andrew’s passion, determination and dedication. The company’s track record is astounding, and this is an ideal time to take Mint to the next stage as an industry power house.”
As a result of the agreement, the company now aims to continue its rapid expansion, attract more investors and build the wider Mint family vision.


http://www.manchestereveningnews.co.uk/business/mint-bridging-mark-abrahams-launch-11254572

No comments:

Post a Comment