Pluto Finance has completed three loans to support the delivery of 184 new homes in Edinburgh.
The three projects are being delivered by experienced developers to the highest build quality, design and environmental standards.
In April, Pluto Finance announced the launch of its revolving credit facility designed to support established SME housebuilders scale the delivery of housing in Scotland without the requirement to fully fund the completion of individual development sites.
The facility is available to housebuilders delivering at least 50 homes per annum across multiple sites and can be from circa £10m up to circa £75m.
Justin Faiz, CEO and co-founder of Pluto Finance, said: “These transactions and our new revolving credit facility show the important role flexible private capital can play in supporting housing delivery across Scotland. Together they help bring forward high quality new homes, support SME housebuilders, and make very meaningful contributions to local communities. As we continue to increase our deployment in Scotland, we remain focused on supporting developers and schemes that can help address housing need and drive long-term regeneration.”
Jamie Drummond, lending director for Scotland at Pluto Finance, added: “Since opening our office in Scotland we have seen strong demand from developers across the country and I am very pleased to see the completion of these transactions as part of our strong pipeline of opportunities. I am looking forward to allowing Scottish SME’s to benefit from our new revolving credit facility, similar to that available to the national housebuilders, which will allow them to make much more efficient use of their balance sheet capital.”
