Reward Finance Group has advanced £8m across 20 deals in just 10 working days, beating the previous number of deals set over a whole month.
The Leeds and Manchester-based alternative funder provided finance to a cross section of industries from manufacturing through to retail & leisure.
One of the companies to benefit is Leeds-based pub group, the Little Tap Company, which has used Reward previously for short term loans.
Managing director of the company, Chris Renouccie, approached Reward for £200,000 to fund its Christmas refurbishment programme.
“With the work scheduled in, we needed a quick decision which, at this time of year, can be well-nigh impossible especially if you were to go down the traditional high street bank route,” he said.
“With many in the financial and legal world on holiday, there is a tendency for some to use it as an additional excuse to slow things down even more.
“We knew Reward could turn things around quickly which meant the loan was paid out within four days, enabling us to get on with the programme.”
Nick Smith (pictured), group sales and marketing director at Reward Finance Group, added: “It was great to get all these deals away prior to the Bank Holiday. Many companies are resigned to the fact that decisions can take many weeks at this time of year, which leaves them in a state of limbo.
“We know that companies can’t wait that long, as it could result in them losing an order or prevent them from growing the business. That’s why we make it a priority to turn matters around within a few days whatever time of year.”
