Fiduciam has set its objectives for 2019, planning to double its lending by originating £250million (€280million / $320million) in new loans in the course of the year. To achieve this growth, it will continue to grow its geographic coverage, introduce new loan products and make 25 hires.
At the same time the private banks, which would historically have provided such loans, have sharply reduced their cross-border loan products.
Lending to businesses can be rewarding. Fiduciam has been provided with a Christmas tree grown by the Irish farmer it lent money to earlier in the year. The Christmas tree, which is in pride of place in Fiduciam’s London office, was chopped down and flown back by Fiduciam’s own staff all recorded on video.
Fiduciam adds France to the list of countries where it can take security for its bridging, refurbishment, development, business and trade loans.
It granted a €5 million loan secured over a French real estate portfolio with the overall structure spanning three jurisdictions.
Fiduciam has lowered the interest rates on its bridging loans for residential property in the UK to 0.60% per month, the lowest rate that it has ever offered.
The rate will be available on loans from £250,000 to £25 million, at up to 60% LTV over a loan period of six months to three years.