Average loan size has grown by 29%, with enquiries levels and written business at “record levels”.
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Sam Howard, managing director at Magnet Capital (pictured above), said: “We are delighted by the growth we have seen, but not surprised, given the level of satisfaction we garner from our SME developer clients and their desire to keep coming back to us for the next loan.
“We have a huge appetite to lend, and this has not diminished during the last 12 months.
“Our broker and intermediary partners recognised and appreciated that we have remained open for business throughout this difficult period, providing creative and pragmatic funding solutions to our SME developer clients’ needs.”
Magnet Capital also has a host of new products in the pipeline.
“We are looking forward to getting even more money into the market and supporting our SME developers in building the housing this country so desperately needs.”
May 2020 was Magnet Capital’s best month since its launch in 2018, having registered the highest level of new business written.
The development finance provider was added to Dynamo’s lender panel in October 2020.