GLI Finance Limited, the AIM listed alternative finance platform has rebranded to Sancus Lending Group, following its AGM today, 11th May 2021.
The change in name reflects the company’s concentration on the alternative property finance sector, which has proven to be the major growth area in the business over the last few years, led by the performance of its wholly owned subsidiary, Sancus Group Holdings.
Sancus specialises in property bridging and development financing from £500,000 to £10 million plus throughout the UK, Ireland, Jersey, Guernsey, Gibraltar and the Isle of Man with a niche in dealing with more complex lending proposals due to the team’s extensive lending experience across multiple jurisdictions.
Alongside Sancus’ own proprietary capital, its funding sources include a £75m credit facility with Honeycomb Investment Trust, the Sancus Loan Note Programme and Sancus Co-Funders. Sancus Co-Funders include private clients, high net worth individuals (HNWIs), family offices, trusts and institutions.
Recently funded projects include a £4.9m development loan to build 27 houses in Cornwall, a €1.05m bridging loan on a 23 apartment complex in South County Dublin and a £9.1m loan to build and develop 11 houses in Jersey.
Andrew Whelan, CEO (Sancus Lending Group), told Channel Eye: “The rebrand of GLI to Sancus and the subsequent concentration on our core business of property finance comes at a time when we are seeing a very vibrant, active and buoyant property market across all our jurisdictions, particularly in the UK and Ireland where there have been sizable increases in demand for residential housing, supported by a range of government initiatives.
“We’re delighted to be supporting a number of schemes focused on the changes in ‘working from home/office’ hybrid models brought about post-pandemic. We have also seen an increase in activity in the big cities and we are providing finance to some large urban projects in the Midlands and North West of England as well as Dublin, Ireland.”
