Financier targets SMEs with new fund

A WELL-KNOWN financier is targeting the Northern SME market after announcing the launch of a fund.

Reparo Finance, which will provide fast turnaround loans of between £50,000 and £500,000, is led by Andrew Ward.

Mr Ward has held senior positions within a number of global financial providers including Rothschild’s asset-based lending business Five Arrows and Credit Agricole before moving on to establish Leeds-based Reward Capital, and work with private equity firm Endless.

Reparo Finance aims to help businesses which need funds for restructuring, growth, re-finance and transactional opportunities.

Operating from offices in Leeds and Manchester, Mr Ward is joined at Reparo by operations director Sharon Bryden who previously worked for Aldermore where she was head of client management.

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

Mr 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.

He added: “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.”