The former, led by head of lending Simon Brown (pictured above, centre left), is the newly rebranded residential development finance arm of Zenzic Capital.

This funding line will allow it to treble its maximum loan size to £15m.

Zenzic Development Finance is focused on residential-led schemes, providing SME housebuilders and developers with senior development finance.

Elsewhere, the lender is offering up to 85% LTGDV and 90% loan-to-cost mezzanine finance.

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“We are one of the few lenders currently offering stretch senior development financing and this funding line allows us to write more loans than ever before, as well as unlocking larger ticket opportunities,” said Simon.

“We have ambitious growth targets for 2025 and look forward to utilising our increased lending capacity to help SME clients across the UK deliver high quality housing projects.”

Mike Knox, executive director at Cynergy Bank, added: “We are delighted to be supporting Zenzic Development Finance with this new funding line.

“The team has an impressive track record and a clear vision for the future, and we’re excited to be part of their continued growth.”