Brightlane closed an £8 million ($10 million) 24-month loan facility with Corporate Commercial Collections to meet the rapidly increasing demand for the company’s modern approach to specialty financing solutions.
This funding helps strengthen the shift towards the service business to grow its property portfolio and formalize its pursuit of proprietary horizontal Software as a Service (SaaS) platform. The funds are available for Brightlane to draw upon in multiple advances as required and will help cement its leadership in the specialty financing space.
“We are emboldened by this new funding to continue to pursue multi-tenant property and specialty financing opportunities, in addition to our expansion of our technology vision,” said Steve Helm, Brightlane’s chief executive officer. “Our excitement centers around the velocity that can now be achieved as this funding opens doors to a world of possibilities for us as a growth-focused company.”_x000D_
The 24-month loan facility is for the financing of working and capital expenditure with individual drawdown requests by the registrant.
Brightlane is disrupting traditional methods of specialty financing and tenancy in the multi-tenant and affordable housing market sector through various rental, lease and right-to-purchase options.
