19th Nov 2018 11:40
LONDON (Alliance News) - S&U PLC said Monday it increased its investment into one of its subsidiaries, Aspen Bridging.
The provider of motor finance and bridging loans said it anticipates increasing its total investment in Aspen to GBP30 million in 2019.
"Aspen was launched as a pilot in early 2017 and has emerged as a significant force in the short term bridging field, building a loan book of GBP20 million," S&U explained.
Bridge loans provide short-term fund until a longer-term debt arrangement can be put in place. They are often used for property transactions.
S&U shares were trading flat at 2,140.00 pence each in London on Monday.
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