The funding line comprises a £50 million credit facility, £20 million of which is to be used immediately.
Andy Whelan (pictured), CEO of GLI and Sancus BMS said: “I am delighted that HIT have provided a substantial funding line to the Company. This will facilitate further expansion of our successful property-backed lending through the Sancus Group of companies. Establishing such a facility has been one of our key stated objectives and is additional testament to the strength of the Sancus offering and our rigorous credit management.”
Howard Garland, Partner of Pollen Street Capital, the investment manager of Honeycomb Investment Trust plc said: “We are delighted to provide this funding line for use within the Sancus business. We have been impressed with their business model, the discipline they have shown in their credit policy, and the opportunities available to them.”