The platform allows borrowers to build a project appraisal on the platform, which is published on Brickflow
Brickflow has secured £47.6m in approved loans in its first six months, supporting the delivery of 208 residential and 12 commercial units.
Since its official launch on 30th October, 15 borrowers have had loans approved, at an average of just under £3.2m per facility.
The online search engine for development finance was created to provide a quick and easy way for developers to access finance, by digitally connecting them with lenders quickly.
Currently, Brickflow has 26 finance providers plugged into its platform and claims to complete a development loan within six weeks.
It also states that it has a conversion rate from heads of terms (HoTs) to credit approval of over 90%.
The platform allows borrowers to build a project appraisal on the platform, which is published on Brickflow once completed.
Lenders that are the closest match are invited to review it, bid on the project and submit their best loan terms.
Our mission is to open up the market and empower borrowers and their advisers, offering them the quickest and easiest way to secure trusted finance, said Ian Humphreys, co-founder and head of lending of Brickflow.
Our process has been developed in consultation with our lenders so, once HoTs are received, borrowers are not normally required to provide further information to get through the credit approval stage. It means borrowers can move forward at speed and with confidence, he said.
There’s a single onboarding process, supported by online tools to build borrowers’ profiles and showcase their experience and projects, he said. This information is only sent to lenders that match borrowers’ requirements, making it easier for lenders to find the projects that they want to fund, saving huge amounts of time for both parties.
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