Tomer Aboody and Joshua Elash are the founders of MT Finance, a company that provides specialist finance to companies in the UK. For those looking for non-bank financial alternatives, MT Finance can provide fast and effective funds, typically within 2 to 4 weeks of applying.
MT Finance was founded in 2008 after both Aboody and Elash noticed the lack of financial options available to small businesses and property developers, specifically as a result of stricter lending criteria from high street banks.
Tomer Aboody had a background in property finance andworked in property investments and trading, whereas Joshua Elash previously worked in a large real estate investment fund in France.
In addition, Joshua Elash was also an attorney in New York, and moved into the bridging finance sector after seeing a sudden lack in liquidity during 2008, driven by the financial crisis.
MT Finance’s speciality is bridging finance, a fast growing sector that helps people stuck between a purchase (of a property or otherwise) and a sale, essentially “bridging” the gap between transactions, to be repaid once the sale has been completed.
In 2011, the bridging loan industry was valued at 2011 and in 2019 was estimated to be worth over £7 billion.
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Equally, for those individuals, investors or developers who are looking to avoid traditional property chains, they can use bridging to buy a property upfront and often receive funds very quickly, rather than the lengthy mortgage process.
For those buying property an auction, it allows you to receive funds within the 28-day deadline, purchase the property, renovate and potentially sell at a higher price and repay the loan over 3 to 24 months.
The company website states:
“When you need a short-term loan, you need it to be fast, flexible and stress free, and at MT Finance, we pride ourselves on delivering exactly that. We are here to get your short-term loan completed in a matter of days. With instant decisions in principle and a streamlined process with no lengthy application forms, MT Finance cuts through delays and delivers your funds exactly when, and how, they are needed.”
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Through MT Finance, the co-founders aim to provide a top-quality service, claiming to give each and every application “undivided attention”. The company state that “providing an excellent service is at the heart of our business model” and further that “MT Finance is committed to building strong relationships and delivering the very highest standards of service.”
Since launching, MT Finance has been acknowledged with the main industry awards, mostly for customer service. Most recently, this includes Financial Reporter and Mortgage Strategy’s Best Short Term Lender 2019, and the Business MoneyFacts Best Service 2019.
MT Finance’s head office in Holborn, London, has over 40 members of staff. In 2018, the company announced its raising of £50 million in senior funding from Insight Investment-managed funds. This funding was announced along with mezzanine funding from a UK fund manager that has remained anonymous.