Reward Funding has launched a new strategic asset finance proposition aimed at helping SMEs restructure existing borrowing and release working capital from assets.
Reward Strategic Asset Finance builds on the lender’s existing asset finance division and follows a three-year expansion which has seen it more than double the size of its specialist team.
The proposition will combine asset-backed lending with a broader assessment of a company’s existing borrowing, assets and future funding requirements.
Reward says the launch responds to growing demand from SMEs for structured refinancing as businesses look to alleviate existing borrowing, unlock capital and fund investment.
ASSET FINANCE TEAM EXPANDS
The lender says increasingly complex borrowing structures among SMEs are creating a greater need for refinancing solutions which consider the wider financial position of a business rather than an individual funding requirement.
The new proposition will work with brokers and businesses to assess existing loans and available assets before structuring funding.
It forms a new growth area for Reward as it continues to expand its asset finance operation.
‘BUSINESSES DON’T NEED ANOTHER LOAN’
Nick Smith (main picture, left), CEO of Reward Funding, says: “Too much of today’s lending market has become focused on speed. Just because finance can be arranged quickly, it doesn’t mean it’s the right solution. We believe structured thinking and commercial judgement are two of the most important ingredients in helping businesses build a stronger financial future.
“Businesses don’t need another loan, they need the right financial structure in place to support sustainable growth. Strategic Asset Finance is a natural extension of the approach we have always taken at Reward, looking beyond the surface of a business or transaction and creating long-term value for both the SME and brokers we work with.”
Robert Still (main picture, right), MD of Reward Asset Finance, adds: “Every business is different, that’s why we never go into a meeting and lead with a pre-packaged solution. We take the time to understand the business itself, the existing loans, assets and the future ambition. Only then do we structure the right funding solution.
“By taking the whole business view, we’re able to unlock value that is already sitting there, helping to give the client more flexibility and a stronger platform for future growth.”
