Alternative finance firm on track for £100m deals target

A Cheshire-based alternative finance company which launched in January is on track to smash its first-year £100m deals target.

Snowball Alternative Finance says it has a deal pipeline worth in excess of £70m as appetite in the business community for alternative forms of finance continues to rise.

Peter Black who heads up the new company and is a former senior banker, said: “Alternative finance options are enabling businesses to achieve their growth or expansion aspirations.

“We are currently talking to companies in a range of sectors including property development and management, manufacturing, financial services, transport and e-commerce.

“We recognise that there is still a huge education piece to be done on the options that are out there. So many people think it’s just crowdfunding as that particular route has been the most talked about. But there is so much more, including unsecured loans, EIS funds, asset-based lending, trade finance and growth funds, as well as providers of bespoke facilities to meet specific business and property needs.”

Working alongside Black is entrepreneur, Alwin Thompson.

He said: “What has become clear in the early days of Snowball is that businesses need advice as well as financial support and we are well placed to offer both.

“We see ourselves as partners and advisors to our clients and in the majority of instances are offering business planning advice.

“For Snowball it’s looking very much like right time, right place and we are looking forward to a bright future.”