Heavyweights launch SME finance venture

RENOWN financier Andrew Ward has set up a multi-million pound fund targeting the northern SME market.

Ward is well known across the North have held senior positions in a number of financial providers including Rothchild’s asset-based lending business Five Arrows and Credit Agricole before moving on to establish Reward Capital and work with private equity firm Endless.

Reparo Finance will provide fast turnaround loans between £50,000 and £500,000, secured on any business asset, with terms from a number of weeks up to two years.

It aims to help businesses which need funds, including restructuring, growth, refinance and transactional deals.

The business has already attracted significant interest with backing from Ric Traynor, chairman of business recovery specialist Begbies Traynor Group.

Ward said: “I was particularly keen to work with Ric as we have both seen the importance that strong funding can make to growing businesses, and the implications for those businesses denied funding.

“Over the last few years, SMEs have been under pressure to find alternative funding as traditional sources have dried up. 

“We aim to provide funding to viable companies which cannot access the funding they require from traditional sources.

“Reparo Finance aims to be an ethical lender with a business model based on a transparent fee structure while offering the flexibility businesses need in terms of loan size, period and conditions.

“We are committed to fast response times and very high levels of client service with decisions made locally by the directors.”