Bridging lender Hennessy Jones Corporate Finance has opened a second office in Birmingham City centre and revealed plans to expand into Manchester in the next two months, writes Sarah Davidson.
The lender, headed up by Nick Sneddon, launched in March this year and has lent £10m to date.
Sneddon’s operation has so far specialised in big ticket bridging loans between £500,000 and £7m but the Midlands team is looking to expand the offering, lending between £100,000 and £500,000.
Gurj Malhi has been appointed regional head of bridging finance and has hired a team of five to support business development in the Midlands.
Sneddon said: “We’ve had great success so far this year and are keen to meet the growing demand we’ve seen from brokers in the Midlands for slightly smaller short-term loans.
“We are also planning to expand our sales team later this summer and are looking to open our third office in Manchester.”
Hennessy Jones Corporate Finance lends across the UK and deals with master brokers Finance Centre, Crystal Specialist Finance and Channel Equity Finance.