The luxury housebuilder will create three arts and crafts-style detached homes at The Pines, in Woodchester Park.

This development will be funded by a £3.69m advance from STB.

Prices for the homes will start from £2m.

The second loan of £738,000 will be used to build Woodside Place, a four-bedroom home at Howe Drive.

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•   Secure Trust Bank Real Estate Finance provides £16.5m for three developments

Mickey Garner, director at Zafiro Homes, commented: “The STB REF team has been very supportive, understanding quickly how our business operates and providing working capital to enable us to get the Beaconsfield projects underway at a time of high demand for this type of property.

“We have a pipeline of high value homes, whether in construction, planning or under options,” he added.

“At any one time, we can have a lot of cash tied up in work in progress, planning and site acquisitions.”

Richard Nowell, senior relationship director at STB REF, said the lender was delighted to have been able to support Zafiro Homes.

“There remains high demand for good quality, well located homes across the country, yet considered smaller house builders often struggle to obtain finance.

“We are very keen to support this sector to deliver new homes and, at the same time, preserve jobs and skills in the housebuilding sector.”