The one-year term facility will allow the rental development arm of Harrison Construction to purchase and complete major refurb works for an HMO in Castleton Moor, near Rochdale, Greater Manchester.

To date, Reward Finance has provided around £300,000 to APL over a five-year period to help grow the HMO investment portfolio of Robert Harrison, the owner of APL Harrison Construction (pictured above, right), and his other businesses.

APL is now setting its sights on significant growth within the new-build market, with planning approved on three luxury homes in Hebden Bridge and a commercial property in Oldham.

In anticipation of this, the firm has hired three new staff and two apprentices from Hopwood Hall College in Rochdale, with plans to increase the workforce further when the construction begins on the new builds later this year.

Robert Harrison, director at APL, said: “Having been in the building trade for over 15 years, it’s always been my dream for the business to move into the new build space.

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“I knew that to achieve this aim, we would need to establish a property portfolio and proven track-record of purchasing, refurbishing and letting homes to a very high standard.

“The funding from Reward Finance . . .  has enabled us to be agile in the market and quickly acquire and refurbish a series of successful HMOs, culminating in the finance to secure our latest property near Rochdale.

“We’re now on a really exciting growth trajectory and have big plans for several new-build developments across the North of England.”

Paula Jones, regional operations manager for the North West at Reward Finance (pictured above, left), added: “It’s a brilliant example of how the right type of commercial finance can be transformative for SMEs that have ambitious growth plans, but need the working capital to react and capitalise on market opportunities when they become available.”

“We’re looking forward to seeing what this next exciting chapter has in store for APL.”