Almost £100m invested by debt funder across the UK
National investor Frontier Development Capital (FDC) has approved almost £100m of investments for business across the UK.
2021 saw FDC support mid-market SME businesses and property developers with debt funding between £1m and £20m approve 31 deals totalling £98.7m.
The West Midlands saw the highest level of investment with £66.7m committed including a pilot scheme called ‘Help to Own’ in partnership with Wolverhampton City Council and the West Midlands Combined Authority.
The scheme is a deposit free scheme that allows residents to rent a property for 25 years before being able to purchase it for £1.
Commercial property deals totally £47.2m whilst £10m residential deals were approved. FDC says highlights include a £6m investment to build Minworth Industrial Park – a redevelopment of a derelict Birmingham steel works, expected to create 140 new jobs, alongside Abbotts Lane, Coventry, a large-scale brownfield-site regeneration scheme set to deliver 700-homes.
Sue Summers, CEO of Frontier Development Capital, said: “This is a landmark year for FDC, one that highlights our steadfast commitment to investing in all UK regions and supporting established SMEs – the lifeblood of our national economy – to harness their potential and take their growth to new levels.
“Throughout 2021, we saw a real renewed energy and impetus from businesses seeking finance, as uncertainty surrounding the pandemic and a challenging economic climate reduced.”
“Interest in investment from the property sector has remained consistent throughout 2021, as the market bounced back and both the public and private sector looked to harness opportunities. We’re proud that our investments will enable the repurposing of 17 acres of brownfield land, while initiatives like Help to Own are paving the way for innovative housing delivery. “
