Momentum provides facilities for both residential and commercial properties, primarily covering Leeds and surrounding areas, and is looking to expand its loan book to approximately £50m within the next two years, including lending across broader regions in the North West as well as targeting the South of England.
Shawbrook has structured a £5m increase to the group’s existing funding line, bringing their total lend to £17.5m.
Damian Slingsby, managing director of Momentum Finance Group, commented:
"Working with Shawbrook from almost the start of our business, we have built a solid partnership based on both teams’ industry knowledge, service flexibility and our joint commitment to growth. This latest increase is an invaluable step in our growth journey.”
Liam McGall, director of speciality finance at Shawbrook, added:
"Damian and his team have extensive experience in the property sector and with their service ethos, we have seen the business grow considerably in a short time. This along with a good understanding of Momentum's objectives has enabled us to tailor the increased facilities swiftly and efficiently. We look forward to continuing our partnership with Momentum Finance Group and supporting their journey towards significant expansion.”
