HB&O join forces with Ludgate to target SMEs

TWO financial firms in the West Midlands are collaborating on a new venture designed to help businesses remove barriers to growth and improve financial stability.

Coventry and Leamington-based Harrison Beale and Owen is partnering with Ludgate Finance and the pairing is targeting SMEs needing help discovering  alternative sources of finance as well as advice around financial restructuring.

The arrangement has already led to one of HB&O’s clients being able to access more than £100,000 in finance which would not otherwise have been available.

Greg Philp, of HB&O’s business advisory team, said: “A large percentage of HB&O’s clients are small to medium-sized or owner-managed businesses – exactly the type of organisations which, in the current climate, can struggle to access finance through traditional sources or on reasonable terms.

“We recognised the expertise of Ludgate Finance could be beneficial to a large number of our clients – particularly those who are looking to diversify or expand but have been held back by a lack of access to sensible finance or changes to existing financial arrangements.

“We were delighted to be able to provide this link with Ludgate Finance as we continue to deliver on our commitment to offer our clients the most comprehensive and high-quality services we possibly can.”

Richard Mason, of Ludgate Finance, which has offices in Birmingham, Coventry and Wolverhampton, said many business owners were still unclear about the financial options available to them.

“We aim to make businesses aware of the alternatives available and help them to remove potential barriers to growth as well as increase access to reasonable finance arrangements,” he said.

“With traditional sources of finance tightening their purse strings it is important for businesses to seek expert advice and to be aware of the alternatives such as peer-to-peer lending.”