TAB secures funding line with a top global private equity firm

TAB has secured a funding line with a top global private equity firm and lending platform that funds residential and mixed use bridging loans and development finance. The news follows shortly after TAB wrote their largest ever loan, a £9.25m bridging loan on a hotel development in Poole, bringing the total loans completed since inception to almost £100m.

TAB has been working closely with Stuart Mogg and his team at EY since the start of 2021 in order to source suitable funding lines to assist with the firm's growth. TAB has received several offers of funding and has decided to initially partner with this private equity firm which has agreed to provide capital to cover the majority of the TAB product range with a view to also supporting new products.

Funding is available immediately for borrowers who meet the minimum requirements of residential and mixed use bridging loans as well as light and heavy refurbishment projects.

Duncan Kreeger, CEO and Founder of TAB, commented: “Having a source of capital from a company which has a thorough understanding of the real estate lending market is a great opportunity for TAB.”

“This funding line allows us to lend at more competitive rates and provide our borrowers with the much needed capital for their real estate projects.”

“This is just another step in the right direction for the business. TAB prides itself on trust and transparency, and provides a personalised and efficient service. We aim to originate quality loans, embrace innovation and improve our technology platform. Now as the business grows we remain committed to doing that but at a cheaper price.”

Eli Korman, CIO of TAB commented “TAB has proven recently that we are worthy of institutional investment. This is testament to the entire team who have worked tirelessly to show how our policies, processes and practices are robust. We remain focused on diligent underwriting, taking an attentive approach to credit risk and making the correct decisions.”

Stuart Mogg from EY commented “We are delighted to have supported the team at TAB on such an important institutional capital raise. It has been a pleasure working with Duncan along with the rest of the TAB team. We look forward to working with them on the next stage of their funding strategy in the near future.”