MS Lending Group (MSLG) has announced a further £40m funding line extension with Pollen Street Capital. This follows an additional £20m of funding secured three months ago.
The initial funding facility with Pollen Street Capital was established in August 2022 and now totals £90m.
The extension in funds highlights the positive start to 2024 for the bridging lender, with originations double the levels of 2023.
The finance provider has experienced a record start to 2024, with May being their most successful month to date in terms of money lent and the number of loans written.
Michael Stratton, CEO and founder of MSLG, said: “The further funds enable MSLG to fully focus on its continued growth journey for the second half of 2024, and most importantly provide our brokers and partners with a quality and service that is unmatched.
“We are also proud to continue our relationship with Pollen Street Capital. To work with a funder who can take you from £0 to just shy of £100m and beyond is exactly what we needed.
“The relationship allows both companies to match each other’s business ambitions and I’m thrilled our relationship continues to flourish.”
Since entering the market in 2021, MS Lending Group has lent over £240m, including £55m from January to June 2024. The company aims to lend £500m by the end of 2025.
James Bevans, investment director at Pollen Street, added: “We are delighted to continue to support MS Lending Group.
“MS Lending Group has built a fantastic track record, supported by deep expert knowledge of their clients and the bridging market.
“We value working with Michael and his team who are diligent, customer-oriented and keen to grow their business.
“Our real estate credit strategy aims to support fast-growing experienced lenders helping to finance SME developers across the UK primarily in relation to residential-led schemes.”
