COLG

City of London Group aims to complete £50m of SME loans




City of London Group PLC (COLG) has announced a strategic collaboration as it looks to complete £50m in UK small business loans over the next four years.

The parent company of a group focused on providing finance to the SME sector and home reversion plans in the UK residential property market will team up with CODE Investing, the institutional marketplace for SME debt.

As an institutional partner to CODE Investing, COLG will gain direct lending access to qualified SMEs, originated to their specifications.

The focus will be on property-based SMEs targeting bridging loans across the industrial, office, retail and residential sectors.

The collaboration will see COLG aim to complete £50m of loans over the next four years originated through CODE Investing, with the option to expand that volume further based on demand.


“This relationship gives COLG access to attractive small business loans over the next four years, serving to further diversify our investment portfolio,” said Michael Goldstein, CEO at COLG.

“This agreement follows a period of due diligence on CODE Investing and its capabilities and processes, and we’re confident our joint effort will deliver a positive benefit to economic growth and to UK SMEs in particular.”

COLG will join a wide range of institutions on CODE Investing’s lender panel.

“For our institutional partners like COLG, CODE’s marketplace provides direct lending access to qualified SMEs, made more efficient by automated technology and processes,” said Ayan Mitra, CEO and founder of CODE Investing.

“We see COLG as an important addition to our lender panel and look forward to working with them to support the UK’s SME sector over the coming years.”

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