Alternative Bridging Corporation has completed a new senior funding facility with Quilam Capital as it looks to strengthen its funding base and support future growth.
The facility provides increased funding capacity, greater flexibility and a lower overall cost of capital, aimed at enhancing the lender’s ability to support brokers and borrowers across its specialist lending range.
The agreement includes an initial committed amount of £70m, with further capacity of up to £150m available as the business expands.
The deal also reflects a long-standing relationship between the two firms. Quilam’s principals previously provided Alternative Bridging with its first wholesale credit facility in 2014, during an earlier phase of growth.
Legal support for the transaction was provided by TLT LLP, led by partner Mark Thomas, while financial advisory support was provided by Interpath, led by Jack Dutton, director in financial services debt and capital advisory. Quilam Capital was represented by Macfarlanes LLP, led by partner Andrew Perkins.
Stephen Meller (pictured), director and chief financial officer at Alternative Bridging Corporation, says: “The most successful funding relationships develop over time through a shared understanding of how a lending business actually operates and where it intends to go.
“The Quilam principals structured our first institutional credit facility back in 2014, when the business was operating at a very different scale. Returning to that relationship now, with a new larger facility, reflects how we have grown over that period.
“The timing is also notable. Funding markets have not been entirely straightforward in recent months, which is often when the strength of long-standing relationships becomes most visible.
“Completing a facility of this size in those conditions says a great deal about the confidence both sides have in the direction of the business, and our ability to support brokers and borrowers across a broader range of lending scenarios.”
Matt Glew, director at Quilam Capital, adds: “Alternative Bridging is a long-established and reputable UK bridging finance lender, with a proven track record.
“We are very happy to be supporting the business through a new, scalable senior funding line to support its future growth and are looking forward to working with Stephen and the rest of the team once again.”
Jack Dutton, director, financial services debt and capital advisory at Interpath, says: “This facility represents a significant step forward in strengthening Alternative Bridging’s capital structure and enhancing its ability to scale efficiently.
“The increased capacity and reduced cost of capital provide a strong platform for growth, while the flexible funding profile ensures the business can respond effectively to demand across its specialist lending portfolio.
“We are delighted to have advised on this transaction and continue our working relationship with both Alternative Bridging Corporation and Quilam Capital.”
