News from Bricks

Social Finance Delivers High Returns

Published by Jerry Rihll, Sep 2020

The core of our business model is what we call ‘social finance’ say the founders of Bricks Finance, Jerry Rihll, Clive Banks and Will Michelmore.

“We like to be engaged wholeheartedly with the local community, both as investors and borrowers,” says Jerry. “We call it social finance. It’s a simple concept.”

Social finance is local finance, provided by investors who all rank equally as friends of the founders. Jerry adds: “The key to our business is trust. It is no coincidence that our early investors were family and friends. Today we have a community of over 50 investors and by communicating regularly we get to know each one personally.”

It is especially difficult for South West entrepreneurs to raise finance now. Changing this position is recognised widely as a critical element in the recovery of the local economy. As co-founder Clive Banks explains: “We believe entrepreneurs not only provide financial stability for their families but also create new jobs, new homes and expand their businesses into their communities, influencing others and resulting in economic growth across the South West.”

Clive says: “High street lenders are dealing with thousands and thousands of loan applications and have to have fixed criteria to allow them to process them efficiently. Luckily for us, this leaves plenty of sensible borrowing requests that fall outside their scope but suit our bespoke and flexible approach. Bank processes can be time-consuming and sometimes borrowing needs arise quickly as finance falls through or opportunities need to be taken quickly. In such cases, Bricks can turn around finance requests in a matter of days and when we commit to a project we truly ‘own’ it and take a real interest in its progress and successful conclusion.

Bricks celebrated the fifth anniversary of its foundation with another year of record performance. Both the numbers of borrowers and investors increased along with record loan commitments of £18m and over £1m in interest paid to investors.

Despite market-impacting forces such as Covid-19 and Brexit, it is a testament to the Bricks social finance model that the business has continued to grow and prosper.

Co-founder Will Michelmore concludes: “Social finance through Bricks improves the economic situation for our borrowers and lenders. We have boosted savings income and helped to create and preserve hundreds of jobs across the West Country and we will continue to play our part in the successful development of the regional economy.”

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Experience, standing by you

Clive Banks

founder and investor

Will Michelmore

founder and investor

Jerry Rihll

founder and investor

Tracey Abbott

head of lending

Harry Dawson

finance manager

What our customers say

Personally, I found the service from Bricks 11/10 in every aspect, and I would highly recommend."

Oli, Property Developer

Devon

Property Development Loan

Thank you so much for everything you have done to help us secure this purchase. We are finally looking forward to a good night's sleep now!"

Stuart and Emma, Dream Home Purchase

Devon

Bridging Finance

This would not have been possible without your support and faith in us to deliver the project. Bricks Finance took the time to understand it. It has made an amazing difference to our lives."

Nick, Solar Energy Park

Somerset

Bridging Finance

This is our second deal and again we have achieved the first drawdown within 6 weeks from start to finish which is impressive!"

Richard, Finance Broker

Bristol

Equity Release Mortgage

Being able to purchase the site would not have been possible without the backing of Bricks."

Darren, Land Purchase

Monmouthshire

Bridging Finance

Bricks have given me the support I needed to do this. I couldn’t be happier to see it going up before my very eyes."

Russ, Beach House Development

Cornwall

Property Development Loan

Bricks have been amazing. Without them, I doubt we would have saved the pub for the village."

Becky and John, The Rose and Crown

Dorset

Refinance

When the guys from Bricks say they are going to back you they do, and it has been a real pleasure partnering with them on this project."

Matt, Property Development

Devon

Property Development Loan

I was really pleased with how quickly I had access to finance. I would recommend them to anyone looking to raise finance."

Jon, Property Development

Somerset

Property Development Loan

I’d really recommend Bricks Finance for anyone who needs to raise finance. They just allow you to get on and make things a success."

Dave and David, Property Development

Devon

Property Development Loan

I will be forever indebted to you all (thankfully no longer financially!) for taking a punt on somebody looking for a leg up in a new industry."

Alex, Forest Holiday Village Development

Cornwall

Land Finance

We found like-minded people who were prepared to take the time to understand our business and support our student accommodation in Exeter."

Angus & Alison, Landlords

Devon

Landlord Mortgage

I feel like Bricks is part of our team and wants a successful outcome for us as much as we want it."

Sam, Property Development

Devon

Property Development Loan

Having used Bricks myself, I now feel comfortable referring clients who have similar needs. The beauty of Bricks is their speed, flexibility and being FCA regulated so they can provide regulated and unregulated loans."

Geoff, Finance Broker

Somerset

Property Development Loan

Bricks are so easy to deal with; they get involved and take an interest in the project all the way to completion."

David, Finance Broker

Cornwall

Bridging Finance

Contact us

Speak to us directly

We’d love to hear from you. Whatever your enquiry give us a ring or send us an email and we’ll respond as soon as possible.

Bricks Finance Ltd

Winslade Park

Manor Drive

Exeter, EX5 1FY

United Kingdom

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