Redwood Bank provides £8.5m loan for London business

An East London businessman has invested in new opportunities after a multi-million-pound loan from Redwood Bank paved the way for him to expand his property portfolio.

The specialist business bank was able to make a 66 per cent LTV offer of £8.5m when the customer enquired about options for restructuring his existing property assets, including retail outlets, office space and residential units.

Mark Dobson, Redwood Bank’s Head of Business Development (South & London), said: “We want to be able to make a genuine difference for our customers, no matter how big or small the ask.”

Manish Babla, a senior consultant at broker Sterling Professional Finance, said: “I approached Redwood Bank as a specialist lender, having understood their appetite to support small businesses.”