UK-based specialist lender Shawbrook has extended a £20m ($27m) revolving credit facility to ScotLend.

This mark a milestone for Shawbrook's speciality finance team as its first transaction supporting a Scottish-based lender.

The facility aims to enhance ScotLend's national presence in the bridging finance market, offering loans ranging from £30,000 to £2m across the UK.

Founded last year by David Travers and Sanjay Agarwal, ScotLend leverages Travers' property lending expertise and Argarwal's experience in healthcare and real estate.

The venture is said to have grown “substantially” in its first year, and the new facility is expected to support its expansion plans and bridging finance offerings nationwide.

ScotLend collaborated with the speciality finance team to secure a bespoke facility, which not only addresses ScotLend's immediate needs but also provides flexibility for future growth.

Travers said: “Our vision is to scale our business, while maintaining the company’s focus of customer service and professionalism.

“Shawbrook's support is crucial in achieving this next step of ScotLend’s evolution, and their understanding of our market, long-term view and flexible deal structure aligns perfectly with our aspirations.

Shawbrook senior director Chris Clarke said: “We are delighted to partner with ScotLend and support their impressive growth plans. There were a range of factors to consider in this transaction, including Scottish legal aspects.

“Overcoming these legal nuances has been a testament to the collaborative efforts of both our teams, and we look forward to seeing ScotLend's continued success.”

In a separate development, Shawbrook recently extended an eight-figure revolving credit facility to bridging lender Bluecroft Finance to support its expansion in the UK lending market.

Additionally, Shawbrook increased its financial backing for specialist development finance lender Magnet Capital, raising its funding line to £25m to aid its continued expansion.

"Shawbrook extends £20m revolving credit to ScotLend" was originally created and published by Leasing Life, a GlobalData owned brand.

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