Record trading from Reward as income hits £6.6m
ALTERNATIVE business lender Reward Finance Group has seen a record year with a 27% increase in fee and interest income to £6.6m.
The results are for the year ending February 2016, its fourth full trading year. Full accounts were unavailable.
During the year, Reward backed the buy-out of a printing business T&P following a winding up petition against them, supported the expansion of a fire and security door business , and undertook 10 deals in 10 days last year , which saw it advance funds totalling £4.5m.
Reward has also announced that Nick Smith has joined the ‘s board as group sales and marketing director.
He joins from Ultimate Finance and prior to that he was regional MD for Aldermore’s Invoice Finance business across its three northern offices.
David Jones, joint managing director at Reward Finance Group, said: “We are delighted that Nick has joined the business. He will play a key role in the development of the Group, he is a great addition to the team and further strengthens our offering across our core northern markets.”
Since its establishment, Reward Finance Group has completed over 250 transactions and has advanced in excess of £70m through a range of facilities.
Nick Smith said: “Reward has gone from strength to strength over recent years and I am delighted to be joining such an innovative and forward thinking business at a crucial time in the SME funding marketplace. Creative structures, lateral thinking, speed and flexibility, are all critical in supporting local business people with their funding needs in the current economic environment. These are all strong attributes of the Reward offering.”
