Property developer secures £8m finance deal

A Leicestershire developer has landed an £8m funding line that will bring forward a 64-home development in the county.

Paargon Bank has provided the finance to Horsnall Holdings. The company will use it build the second phase of The Gate scheme in Loughborough.

Paragon also previously funded phase one of the development, The Mill. This is the sixth development that the bank has supported Horsnall Holdings with.

Mark Horsnall, director at Horsnall Holdings, said: “The support from Paragon has enabled more much-needed housing to be developed in the Loughborough area. The Gate offers high-quality housing in a convenient location, in the heart of Loughborough’s desirable Waterside Village.

“We have worked closely with Paragon for a number of years now on projects of varying sizes. The whole team has a great understanding of the industry and has always been keen to assist us with funding. Paragon’s continued support has helped us to grow our business significantly over the last few years. Monthly valuations and draw down are simple, hassle free and always paid within a few days of submission.”

Simon Dekker, relationship director at Paragon, said: “It is great to be able to continue our relationship with Horsnall and support the business with yet another scheme.

“Over the past few months, it has been our priority to support both new-to-bank and existing clients, so we are pleased that we are able to continue our relationship with the business through assisting with this development and those prior.”

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