OakNorth, the leading digital bank for entrepreneurs, by entrepreneurs, has surpassed $1bn of lending in the US since it began lending there in July 2023, marking another major milestone in its US expansion.With a focus on supporting lower mid-market businesses with revenues between $1m and $100m, OakNorth’s backing continues to be a catalyst for growth, innovation, and market leadership for its customers, as well as creating a positive multiplier effect in the communities and economies in which it operates. After the collapse of several U.S. banks in 2023, OakNorth stepped up to serve the $4.2 trillion U.S. lower middle market, with stand-out transactions, including:A $28m note-on-note facility to Oak Funding, to support the acquisition of a Class A commercial office building in Secaucus, New Jersey;A $18.4m note-on-note facility to S3 Capital, to support major new residential scheme in Upper East Side, Manhattan;A $25.1m note-on-note facility to Mavik Capital to finance the conversion of vacant hotel in Syracuse, New York into multifamily propertyA bespoke loan to Faes & Co, to support the expansion of its US real estate bridging finance business.OakNorth also continues to see a significant opportunity in providing leading growth companies with the financial firepower to make their American dream a reality. For example, F1 Arcade, the world’s first F1® experiential hospitality brand, with sites in London and Birmingham, secured OakNorth funding to support its U.S. expansion

Faes & Co, led by Christian Faes, has secured funding from OakNorth to expand its US real estate bridging finance business, F2 Finance, which operates in 13 states. The funding will help address the US housing crisis by supporting property entrepreneurs in rehabilitating aging homes. OakNorth, known for its expertise in real estate lending, is excited to support Faes & Co's growth in this sector.