Maslow Capital reintroduces lending for new projects
Development finance provider Maslow Capital has reintroduced lending for new projects following a pause during the lockdown period.
This follows the launch of its debut Loan Book Liquidity Fund, which focuses on providing funding solutions for both existing developments and secondary loan books.
Maslow used the lockdown period to assess the market and ensure its origination efforts are focused on the right opportunities.
The reintroduction of lending for new projects is part of its commitment to the residential, private rented (PRS), build to rent (BTR) and purpose build student accommodation (PBSA) sectors.
Since its inception 11 years ago, Maslow has financed more than 220 projects which delivered in excess of £3bn of gross development value (GDV).
Matt Pigram, head of deal origination at Maslow, said: “Maslow’s goal is to help support developers with a broad range of funding solutions.
“Our lending capabilities start at £5m and although we can lend significantly more than that, our average loan is £15m which dispels some of the misunderstanding that we only fund very large deals.
“We fund small, large, straightforward, and complex loans.
“Unlike the banks we are able to avoid some of the regulatory and credit rating pressures allowing us to be very flexible when it comes to loan size, scheme and borrower concentration exposures.”
Pigram added: “We are witnessing our experienced developers adapting exceptionally well to the pandemic with new high-quality schemes that deliver core housing at accessible price points.
“Maslow [is] really well placed to support them now as we have always strived to in the past.”
Ellis Sher, CEO and co-founder, said: “We remain focused on core asset classes, staying true to our longstanding experience of funding residential and PBSA developments, whilst diligently sticking to the key lending fundamentals that have helped steer our credit decisions over the past decade.
“As the country begins to reopen, we look forward to playing our role in delivering much needed funding to the UK’s [small to medium enterprise (SME)] housebuilders.”