Positive Commercial Finance, the specialist commercial finance broker, are proud to announce and celebrate their tenth birthday.
Incorporated in November 2007, Positive have established themselves as a driving force in short-term property finance, with the vast majority of fee income derived from development finance, working with over 400 developer clients in the past ten years.
Turnover has increased steadily each year, at a minimum growth rate at 25% year on year, with the highest single year growth percentage being 29% in 2016.
Loan sizes range have ranged from £50,000 to complete works on a part-built house, to £28m to build a mixed-use apartment and commercial scheme in city centre Manchester.
And they’re still going strong. In the last year they have funded over 1,000 new build units, with turnover in the first eight months of 2017 surpassing the 2016 high. In 2017 they are already 15% up on last year. With pipeline deals amounting to £100m, of which £37.5m has been formally offered, 2018 looks set to be another bumper year.
Positive is a ‘whole of market’ broker, having an impressive range of funding sources including private individuals, family offices and specialist funders as well as High Streets banks. This extensive panel provide bridging, commercial and development products to suit any type of scheme, including exclusive products only available through Positive Commercial Finance.
John Waddicker, Director, says: ‘We are delighted to have reached such a significant milestone and are proud of our achievements in the last ten years.
‘We believe our success is borne from our experience, our funding contacts, and the way we structure deals to make sure they work for all parties. More recently, equity participation has become much more regular, with deals being done on a Joint Venture basis.
‘Positive has facilitated many success stories where developers had tried numerous other brokers without success, but with our guidance and input where then able to access finance via our panel. We can confidently state that our private funding sources have funded deals which no other lenders had an appetite for. Here’s to the next ten years!’