The newest provider of commercial finance throughout Ireland, Belfast Commercial Funding, has strengthened its management team with the recruitment of a senior figure from the commercial lending sector inNorthern Ireland. Ciaran McLaughlin joins the all Ireland lender as Head ofBusiness Development from Danske Bank, and has previously worked in UlsterBank.
Belfast Commercial Funding has already made over £30million of loans to businesses across Ireland, north and south, and is the first non-bank lender to be founded in Belfast.
Ciaran joins BCF from Danske Bank where he worked for9 years as Corporate Banking Manager and previously Corporate AcquisitionManager.
Ciaran said the changing nature of the commercial lending market was the driving force behind his decision to make the move toBCF.
“I have thought for some time that there was an unmet need in the commercial funding market for a lender who was prepared to be a bit more attuned to risk and opportunity. I worked with Gareth Graham and theOakland team as they rolled out the hugely significant and successful MerchantSquare which is now fully let, has been re financed and now sold.
“That kind of redevelopment and regeneration is driven by quick, dynamic decision making. The model which is operated by BelfastCommercial Funding, a small team with increased flexibility and empowerment within the team is new and exciting and having seen it up close I was attracted to be part of the solution to filling the gap in the lending market. We are already seeing interest in our offer from across the island of Ireland and I am looking forward to partnering our loan applicants as they develop new and transformative projects. That is already happening in Belfast, Cork, Coleraine, Dublin and many other towns and cities.”
Businessman Gareth Graham established BCF following the sale of Merchant Square in 2021 in what was the largest private sector commercial sale to date in Northern Ireland. Gareth welcomed Ciaran to the BCF team.
“It was important for us to build a team which is experienced and hungry to do more deals. We knew from our efforts to develop Merchant Square that the traditional model of commercial lending simply does not work in Northern Ireland any more.In the end we secured funding for Merchant Square in London and New York andBCF is moving into the gap in the local market. Ciaran brings a wealth of commercial lending experience to this role and will strengthen the offer we are providing to businesses across multiple sectors in Ireland, north and south.”
Belfast Commercial Funding has already advanced loans in both Euros and Sterling ranging from €/£200,000 to €/£3m, to a range of businesses who are already making a positive impact on the wider economy.