GB Bank provides £750,000 to help bridge the gap for Welsh property developer

A commercial bridging solution from GB Bank has helped to fund the development of three new business units in South Wales. 

An experienced property investor and developer was looking for financial support after its project had fallen behind schedule.   

From enquiry to completion, Teesside-based GB Bank managed to supply the £750,000 loan for the borrower in just five weeks, a timescale which included the busy Christmas period.

The development site, in Port Talbot, will see the construction of three new business units, with associated car parking and infrastructure. The site is well connected via rail and motorway. The development adds to ongoing regeneration within the area and supports economic growth for the local community. 

Provide Finance and broker for the deal, said: “This development is a key addition to the customer’s growing portfolio. The boost it gives to the local economy and value it adds to the continued regeneration in the area makes it an extremely good asset.  

“We contacted GB Bank as we thought this development suited them perfectly. They have a proven track record of providing effective support in a short time frame and they certainly delivered on that.

“In less than five weeks, after having a good stream of constant communication with the team, the loan was secured and construction is now underway at the site. It’s always a pleasure to work with such a proactive team and we look forward to working with them on future developments.” 

For more information on GB Bank’s lending services, please visit: https://gbbank.co.uk/introducers-and-referrals/