Record year-end results for alternative finance group
Alternative finance provider, Reward Finance Group, which has offices in Leeds and Manchester, has posted record year-end figures for the ninth consecutive year.
In the year ending February 2020, income increased by 16% from £12.8m to £14.9m, with total lending growing by 12 percent to £78m.
During the year 142 deals were completed, with client numbers now standing at 276 across both offices.
Group managing director, Nick Smith, said: “We are very pleased to have achieved yet another record year of growth.
“The results come against a background of continued investment in people and IT and a strong contribution from both our regional offices has driven these impressive results.
“During the pandemic, the business has continued to operate successfully and has supported existing clients that have been affected by the current challenges.
“Conversely we are providing new funding for businesses that have seen unprecedented demand for their products and services.
We are also providing working capital injections for several companies which have repurposed their manufacturing facilities to fulfil an urgent need for vital equipment, such as PPE.
“Throughout these testing times, our approach has remained unchanged and whilst new deals have been more difficult to complete, we have always found a way.
“Reward has continued to show its agility, flexibility and ‘can do’ approach to providing the funds and supporting the clients and we are well placed to continue as the lockdown begins to ease.”