Thanks to the CBILS facility, the Essex-based developer is now able to start its residential scheme of four bungalows on a rural site in Brentwood, Essex.
Due to the nationwide lockdown in April, the company was having trouble accessing funding for the project.
Assetz was able to offer a timely development solution to start the demolition of the existing site and fund the subsequent construction of the family homes.
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The loan was agreed at 70% LTGDV on an 18-month term.
The site is now set for completion in May 2021.
Lee Francis, relationship director at Assetz Capital, said: “We’re proud to get Dean [Floyd, owner of Loughton Capital 2020] to completion, and to deliver four new, quality homes in an excellent location built by a top quality SME developer.
“I’m pleased we’ve exceeded his expectations, and it was down to the hard work of our panel of lawyers, Gateley, and our in-house relationship support team.”