The King’s Park development will see the construction of nine detached and semi-detached three-bedroom bungalows within a gated cul-de-sac on Windsor Way.
The homes will offer flexibility in the internal design, including lowering units and fittings for wheelchair users.
They are expected to be popular among buyers who are retired or approaching retirement, as well as those who are seeking new homes with better accessibility to accommodate a disability.
The first homes are due for completion by next June, with the development fully finished by December 2021.
The facility was agreed on an 18-month loan term.
This is the fourth scheme by Hammond Homes.
The previous three projects also received funding from One Stop Business Finance.
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Debbie Hammond, director at Hammond Homes, said: “We’re thrilled to be able to get the ball rolling on our latest new homes development at Barnetby, which we anticipate being sold off-plan given the popularity of the village location and unique designs that include exposed oak features.
“One Stop Business Finance has played a key role in making King’s Park a reality, and it continue to provide us with the support we need to grow our brand and become an established housing developer in the Lincolnshire and north Lincolnshire regions.”
Andrew Mackenzie, MD at One Stop Business Finance, added: “It’s fantastic to see another excellent scheme underway by Hammond Homes and its continued growth.
“We’re delighted to have been able to support the developer by arranging the funding that is crucial to development schemes like King’s Park, but so difficult to access from most mainstream banks.
“We’d also like to thank the team at Clarion Solicitors, led by Ben Slack, who undertook the legal work on this latest deal.”