Yorkshire finance business provides £800k fund for residential scheme in Grimsby

One Stop Business Finance Limited, based in Laytham, has completed a development funding deal, lending £800k to Hammond (Homes of Distinction) Ltd.

Directors Nick and Debbie Hammond will use the loan to fund the development of a 13 dwelling, residential house building site, in Grimsby; repaying One Stop in 12 months.

Andrew Mackenzie, managing director of One Stop Finance, commented: “This transaction is one of the largest we have completed and demonstrates the level of funding that we now have for the business.

“We are delighted to support Nick and Debbie’s aspirations to be developers, building on their substantial experience as sub-contractors in this sector.”

Nick Hammond, managing director of Hammond Homes of Distinction Ltd, added: “The funding facility and pro-active support from One Stop Business Finance throughout the lending process has been invaluable.

“Without funding it would not have been possible for us to make the leap into developing after many years of building for other national house builders. This project in Grimsby has allowed us to develop a local supply chain and guarantee the funds will be re-invested in the local economy.

“We are now working on strengthening our positive relationship with North East Lincolnshire Council, which will hopefully lead to further development opportunities in the Grimsby area. We will then be able to start negotiations with One Stop Business Finance to provide future development funding.”

The legal work on this project was undertaken by Ben Slack, John-Joseph Massey, Max Wayman and Aarti Palmer of Clarion Solicitors in Leeds.

One Stop Business Finance Limited has also brokered a large number of invoice finance, commercial property and fixed asset deals over the past few months.