This funding comprises a £6.56m development loan from the Scottish National Investment Bank (SNIB) to help deliver 50 private homes and 12 affordable homes in Peebles.

The homes will be constructed on a former industrial site, with the affordable homes owned and managed by the Scottish Borders Housing Association once completed.

“As a leading SME housebuilder in Scotland, we are very proud to be supported by HGP and that we are one of the first housebuilders to have secured senior debt from the SNIB,” said Eve McCurrich, managing director at Whiteburn.

“We hope this lays the foundations to establish an ongoing relationship between ourselves and the Bank and gives a boost to Scotland’s wider SME housing sector.”

Nicola Douglas, executive director of investment, at the SNIB, highlighted the wider context that last year the Scottish Government officially claimed the country was in the midst of a housing emergency.

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Delivery has suffered as many Scottish SME builders, like Whiteburn, have struggled to access finance. This has impacted the health of the sector and earlier this year Homes for Scotland reported the number of SME builders operating in the country had fallen to its lowest level in 20 years.

Nicola added: “As Scotland continues to face a national housing emergency, it is more important than ever that SME housebuilders have the relevant support they need to deliver private and affordable homes for local communities.

“This is an exciting first investment in a project and a builder of this type as we ensure our place-based investments work to address Scotland’s housing shortage.”

The equity finance from HGP is the second investment the group has made with Whiteburn.

Colin Bennett, investment director at HGP, added: “The Peebles development is our second development with Whiteburn, which follows on from Viewforth, Kirkcaldy, and we look forward to seeing the local impact this development will bring, delivering much needed new homes to the area.”