Luke Townsend

Zorin closes eight deals worth £38m in one day

Zorin Finance has announced that it funded eight loans worth £38m on what was originally due to be the day of Brexit and the last day of its fiscal year.

The specialist lender claimed that it had been able to close so many loans as a result of securing an additional funding line three days earlier.

It is now funded by two institutional investors as well as its founder and CEO Luke Townsend (pictured above) and Sir John Beckwith and family.

Zorin has now provided 144 loans to date, with over £535m of finance committed to SME housebuilders, while origination volumes are at their highest since the company’s inception in 2011.

“Closing eight loans in a single day is a testament to the unbelievable work ethic of Zorin’s employees and the ongoing support of our funding partners,” said Luke.

“Importantly, securing a new funding partner in the days leading up to our financial year end enabled us to close an additional three loans worth a total of £13m and thus deliver record results for the business.”

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