A unique funding proposition | NE Times

In a business environment that now requires much more than the traditional forms of funding that were previously available to them, companies need to consider all available options to get the correct fit for their particular situation.

However, this is not always easy. The finance world has changed dramatically in the past few years, with banks having tighter credit policies and the advent of a new phenomenon – crowd funding.

Fortunately, there is ‘credit appetite’ from lenders who are keen to assist, but companies must know where to look and how to put a proposition to them.

Having worked for major financial institutions for the past 25 years, I felt that the time was right to establish a unique funding solution proposition in the North East. Corporate and Commercial Funding Solutions’ (CCFS) bespoke service starts with a visit to the prospective client to gather relevant information and follows on with informed discussions with lenders in order to find the right solution for the client’s needs. This eliminates the need to conduct a ‘beauty parade’ of lenders for the client that is extremely time consuming and ultimately confusing.

To accomplish this, CCFS collaborates with two strong and innovative funding partners – Anglo Scottish Finance and Reward Finance Group.

Anglo Scottish Finance is one of the UK’s leading asset finance brokerage firms, with a broad range of funders in the following areas:

Having traditionally focused on asset and dealer support finance with a range of major lenders, niche funders, and ‘own book’ solutions, Anglo Scottish Finance is keen to develop their Commercial Finance division. This provides a genuine ‘one stop shop’ offering to SME businesses and their business advisors.

Reward Finance Group is a secured business lender with a difference. Run by Dave Jones and Tom Flannery, they have more than 60 years experience in banking and asset based lending.

Backed with strong funding lines, Reward Finance Group extends short-term finance to businesses that need it, in a quick and efficient manner. Secured funding lines are between £50K and £2M and are provided to businesses directly as a direct injection of cash, in conjunction with their business advisors, or to other funders to provide additional funding that can assist deal completion.

As well as short term ‘bridging’ facilities, Reward Finance Group provide innovative receivables funding solutions where a more creative facility is required, and now a new trade finance proposition through their invoice and trade finance divisions.

This combination of strong funding solutions with a professional and credible personal approach will prove extremely useful to the SME business and the advisory community in the region.

If you or your clients have a funding requirement or would like to know more about any of the above, then please contact Peter Cromarty on 07715 409386 or on the contact details below.

You can contact me on 07715 409386 or email me directly at marketing@ccfundingsolutions.com. Alternatively, you can fill out the contact form

Leeds-based Reward is to increase the level of funds it has available to lend to businesses following a standout performance in 2014.

The Yorkshire-headquartered lender will have a further £5m to provide to small and medium-sized enterprises either through its short-term asset-backed funder Reward Capital, or the longer term invoice finance provider Reward Commercial Finance.

Christo Wiese, the South African billionaire chairman of Reward’s main backer, Tradehold, has given the green light for Reward’s war chest to be significantly boosted, taking its total funds to lend to £25m.

The decision follows a record year for Reward which completed 70 transactions in 2014, with 25 being completed in the last quarter alone.

This included Reward’s largest deal to date which saw it advance £1.8m in the week before Christmas to a Scunthorpe-based logistics company looking to purchase the premises it currently rented.

The landlord was offering a substantial discount for a pre-Christmas completion on which Reward was able to complete a deal within seven days of initial enquiry.

Reward also expanded its service and reach in 2014 with the launch of an office in Manchester and the recruitment of experienced financiers Neil McGivern and Calvin Dexter. Industry expert Peter Cromarty has also recently joined the Reward team in order to expand coverage into the North East.

Dave Jones and Tom Flannery, the two partners that run Reward, have plans for further expansion in 2015. The launch of a trade finance arm, new premises, the availability of cheaper and longer term funding, and more recruits for both Leeds and Manchester, are already in the offing.

Jones said: “We continue to provide a viable funding alternative for SMEs, enabling them to maximise opportunities that they may otherwise miss out on, often where speed of turnaround is critical.”

Tradehold is an investment holding company listed on the main board of the Johannesburg Stock Exchange.