A new short to medium term loan fund to provide capital to SMEs has been launched immediately by well-known Yorkshire corporate financiers.
With offices in Thorpe Park, Leeds and London, Fresh Thinking Capital already has funds of 30 million on deposit for immediate secured lending to businesses.
The new secured lending business is established by Melanie Hird and Andrew Walls, who have a deep status purchasing and supporting SMEs during ten years.
The firm will offer you secured lending loans which can be between 100,000 and 2 million that can help small and medium sized businesses in search of finance quickly.
“There remains a spot inside the lending industry to SMEs here and over the UK, additionally, the first fund now we have established has provided us 30 million to lend immediately to these businesses,” said Melanie Hird.
“We be aware that good businesses usually have urgent lending needs and sometimes the option arises, for instance winning a brand new contract or buying a business or asset, though the slow speed of which funding can traditionally be raised brings about the chance being missed.
“The volume of governance and bureaucracy available in financial institutions means it’s impossible for many people lenders to transfer quickly which is hindering the expansion of companies.”
The duo has the backing of an private investor, and, thus far, has secured deposits of 30 million initially for a few years which has a view to deploying further funds.
Hird explained which the attraction of working with a like-minded investor was really a perfect fit for your business and allows a flexible method of be studied.
The firm is initially launching loans secured against assets, including property both inside and outside within the business, that is signed off by Hird and Walls and drawn due to clients within five days in the initial meeting.
Co-founder Andrew Walls said: “We have already been dealing with other lenders including banks, ABLs and equity funders to bridge gaps to guarantee refinances and transactions complete.
“We are encouraged using a quantity of discussions we certainly have already had with banks and management teams who see the benefit of utilising short-term funding to make the most of opportunities and this can be refinanced in a very more normal timetable in due course.”
Walls continued: “We have setup this company as a way to streamline the lending process, and getting all of the fund on deposit, with a completely flexible approach to structuring loans. We pay attention to the customer’s requirements and tailor the funding to fit in lieu of one-size-fits-all.
“Even when deals don’t suit our secured debt offering, we work with our London office or introduce to the network of equity investors, asset based lenders or alternative funders. Most often, we discover a remedy to the client,” he said.
Having been the founders of Seneca in Yorkshire, Hird and Walls will work while using the firm on potential equity requirements along with introducing opportunities.
Hird adds: “We have bought laying the foundations to do this business properly, while using right systems and processes to scale around become a national network of offices quickly.
“Unlike many loan funds, for no reason have got to keep ‘going back to the well’ and pitching to our own backers for every deal as we provide the full valuation on the fund on deposit to lend to deals that meet the criteria.
“As an end result now we have already seen interest from the variety of financiers keen to have involved and establish our network of regional offices, and we all fully anticipate significant growth this coming year and the opening of more offices.”