Alternative finance group reaches £100m milestone as it plans further growth
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Reward Finance Group has broken through the £100m loan book milestone for the first time, keeping it on track to record its 11th year of continuous growth.
The alternative finance company, which recently added a presence in Birmingham to its Leeds and Manchester offices, has grown its loan book by 27%, and added ten more people to its team over the last 12 months.
It is now intending to expand its team further and increase its regional presence to build on its growth.
Group managing director, Nick Smith, said: “The last 12 months proved a challenge for some of our customers, and it was therefore vitally important that we were there to support those who were adversely affected by being flexible and pragmatic.
“However, there were many companies who were changing and adapting their businesses who quickly needed working capital to help them succeed.
“We therefore put out a clear message that we were open for business and keen to lend, which resulted in us breaking through the £100m mark. Indeed, we recorded our biggest deal during this time of £4.8m.
“The past 12 months have certainly shown the true value of alternative finance providers and helped put us firmly alongside traditional lenders.
“Companies have been impressed with the flexibility we provide to find a solution to their funding needs and the speed we deliver the funds.
“We therefore expect the loan book to continue to rise as the market opens back up, which will lead to further recruitment of experienced personnel.
“In addition, having successfully launched our presence in the Midlands with Steph Brown, we are planning to open additional regional offices to build on the increased business we are now attracting from across the UK.”