Specialist loan firm reaches major milestone
Exeter Finance have now reached a major milestone with a ten year collaboration with Shawbrook.
The specialist provider of loan facilities in the South West and was established by Peter Keech in 2013 to serve the local property market with a personal and efficient approach.
The business has arranged over 700 loans to date, 130 of these current, and delivered over £250million to fund bridging loans, auction purchases and development projects.
The team at Exeter Finance recognised the value of having their own pool of funds to deliver an optimal service for their clients, and they approached Shawbrook to secure a funding line very early on in their establishment.
Shawbrook’s Speciality Finance team took the time to understand Exeter Finance’s business model and ambitions, initially providing a bespoke £750k block discounting line.
The business has grown substantially, through direct origination, introducers and building longstanding relationships with customers, predominantly throughout Devon and Cornwall. Shawbrook has maintained its support throughout the past decade, increasing its lending commitment to £30m, aligning to Exeter Finance’s requirements and reflecting the needs of the business today.
Peter Keech, managing director at Exeter Finance said: “Our focus is to provide local property businesses with fast and efficient funding solutions, and having the capital to deliver these is key. We knew the team at Shawbrook and their sector experience, so it was a natural move to approach them when we first set up the business and they very quickly understood our objectives.
Peter added: “We have also seen a boom in the South West over the last few years, which in turn impacted on demand. Mark, Warren and the team there have maintained a great partnership with us over the last ten years, assisting with an increased facility as the business grew. We would not be where we are today without the unwavering support of Shawbrook.”
Warren Mutch, head of Speciality Finance said: “Peter and his team had a very clear strategy right from the start and this was critical to our arranging the initial funding package. Their expertise and investment in local businesses has been fundamental to their success over the last decade and we have watched the team go from strength to strength.
Warren added: “We are delighted to have supported the growth of Exeter Finance and be celebrating a joint 10th anniversary and look forward to seeing the business continue its growth trajectory in the South West region.”
