The Westhill-based company – which has divisions covering civil engineering, commercial property, house building and quarrying plans to use the new deal to accelerate expansion plans.

Chap, which employs about 200 staff and turns over around £45m a year, said that it is focusing on development opportunities and land acquisitions for residential and commercial projects.

Hugh Craigie, joint managing director, said: “The agreement with Santander is important as we plan for the future.”

Mr Craigie added: “One of our key aims is to expand our development pipeline and, having bolstered our team with that objective in mind, we are actively pursuing sites across the region.

“With Chap Homes successfully operating as far north as Inverness, our geographical reach is considerable – although Aberdeen and the north-east will remain at the heart of the business.”

In October, Chap Group won a £4m contract to refurbish the Central Building for the University of Aberdeen and a £3m social housing deal with Langstane Housing Association.

Chap was founded in 1976 by Alasdair Craigie, Ian Harper, Frank Anderson and Ian Philip. The group is still owned by members of their families.

Jamie Ritchie, senior relationship director of Santander Corporate and Commercial Banking, said: “The Chap Group is set to embark on an exciting period of growth, and we are delighted that the management team has chosen to partner with Santander to help the company realise its aspirations.”