This fund marks Financefair’s growing commitment to meet the needs of an underserved market of small and midsize scaling companies. Having advanced over € 1.7bn of working capital funding to date, Financefair is making a significant and positive impact on the growth trajectory of many Irish and UK businesses across all sectors.
This Financefair Social and Affordable Housing Fund will be managed and administered by Financefair with funding provided via London-based investment firm LCM Partners.
This innovative new fund aims to finance the construction of up to 750 new homes, in communities throughout Ireland.
These homes, for turnkey sale to Approved Housing Bodies (AHBs), Local Authorities, and the Land Development Agency (LDA), will support Ireland’s social and affordable housing development needs.
Financefair will provide loans of up to 90% of the total development cost, or up to 75% of net development value, for experienced residential developers.
"Supporting the development of affordable homes is not just an investment in housing it's an investment in the future of Irish communities," said Peter Brady, co-founder and chief revenue officer of Financefair.
“Our collaboration with LCM Partners opens doors not only to address the housing shortage but also to fuel local economic and community development. The fund provides essential support to experienced developers and will help drive efficient project completion by enabling early funding drawdown based on an agreement for sale to AHBs, Local Authorities, or the LDA.”
Declan Reid, managing director at LCM Partners said, "Our partnership with Financefair reflects our commitment to sustainable development aligned to the need for social and affordable housing. We look forward to the progress of this fund which will contribute to the development of much needed quality housing for people, families and communities across Ireland.”
Experienced residential developers interested in applying to the fund are invited to contact Financefair.
