Avamore increases funding and seeks to double sales team
Development and bridging lender Avamore Capital has agreed support from its funding lines to enable it to lend more than £400m over the next two years, and has now begun to implement plans to double its sales team in 2021.
Avamore’s team of regional relationship managers currently stands at four, and it has been confirmed that Avamore plans to add a further four team members to cover its core geographies in 2021; it is also likely that a sales director will be added to the team later in the year.
Avamore will hire a further relationship manager for London, and one each for the West of England, the West Midlands and the East of England. The lender will be working with its recruiter partners to fill most of these positions.
Avamore is also growing its infrastructure to be able to complete and manage more transactions by hiring a further underwriter and asset manager.
A newly created role of case manager will also support the credit analysis team in ensuring its service to clients remains proactive and efficient as the loan book grows.
As the team expands, Avamore wants to maintain its ethos of lending with the customer in mind; clarity, transparency and clear channels of communication will remain at the heart of everything that the lender does.
Amit Majithia, principal at Avamore, said: “Our increased lending firepower means that we are very keen to complete deals with as many brokers and developers as possible. In order for us to reach our £400m lending target over 2 years we will now bring in new relationship managers to increase our outbound interactions and to grow our broker relationship base further.
“We’ve grown an amazing team and we’re seeking to build on that growth by adding more Relationship Managers who can deliver Avamore’s signature brand of quality, reliability and service.
“There are still a lot of brokers and developers who for example have never heard of our Finish & Exit product and that could be benefitting from it, so we need more people to spread that message for us.
“The package we can offer our RMs is unparalleled in the industry so we expect to attract some high calibre talent to join our team.”