Appointment of new director and record trading from Reward as income hits £6.6m

Alternative business lender Reward Finance Group has made a key board level appointment with Nick Smith joining as Group Sales & Marketing Director on the back of record trading figures. Recently released year end results to February 2016, confirm Reward saw a 27% increase in fee and interest income to £6.6m in what was only its 4th full trading year*.

Smith brings with him a wealth of experience having spent 20 years in financial services covering a range of disciplines, including Asset Based Lending, Invoice Finance and International Trade Finance. He joins Reward from Ultimate Finance where he was Group Sales Director and led impressive growth at Ultimate across all its products and put the business on a national footing, including cementing its Sales and Operational presence in Leeds. Prior to that Smith 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 commented: “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”.

*Year end results to February 2016 were released on 24 May 2016.