The Marine & Property Group Ltd (TMPG) have just completed a conservatively leveraged finance deal with TAB, a loan finance and property development organisation. This new, supportive banking partnership is the first in a multi-step funding plan for TMPG to aid the consolidation of current assets, and support future growth and development.
TMPG appointed Michael Clapper at Black Book Finance, one of the UK’s leading real estate advisory firms, to place and secure its financing requirement. TAB was the selected lender; founded in 2018 with the mission of providing a lending service that understood the requirements of some of the UK’s most exciting property projects and businesses. They have done this by designing a lending model with flexibility to consider the wider spectrum of a borrower’s circumstances.
Christopher Odling-Smee, Director of The Marine & Property Group Ltd, says “TAB have really taken the time to get to know the business, its requirements and potential and it has been a pleasure working with them. Their support will allow us to consolidate our current portfolio and continue with our growth plans in what is an exciting market.”
Duncan Kreeger, CEO at TAB, said, “When a proposition makes sense, we will always look to see if we can assist. In this case, it was a complex asset but with the brokers knowledge, and us meeting with TMPG to understand the borrower’s requirements, the proposal put forward made sense, and we were then able to gain full comfort around the business. We are delighted to support TMPG at this stage of their exciting plans.”
This new funding structure provides solid foundations for TMPG for the future and allows it to accelerate its development and communities work whilst creating more jobs in the marine industry for the future.
