Having spent my entire working life in the finance industry you wouldn’t think you could tell me too much about lending to SMEs.
Although I worked predominantly within the invoice finance and asset finance arena’s, I was also experienced in traditional lending offered by mainstream banks.
It was therefore quite an eye-opener when I joined Reward Finance Group eight months ago and learnt about the alternative finance options it offered businesses.
Let’s face it, we live in an age of instant gratification and a ‘need for speed’ – superfast broadband, social media, even dating! And, finance is no different. If a business needs money, for whatever reason, they need it now, not in a few weeks or a month or so down the line, as that is often too late.
Businesses don’t have time to jump through countless hoops, fill out complicated forms or go through a long interrogation process. And, after going through such a lengthy process, they are often shoehorned to fit a particular funding product, rather than being provided with a facility that fully meets the customer’s requirements.
What I immediately liked about Reward is the fact we are on the side of the businesses. We are not looking for reasons to say ‘no’, but instead do our utmost to find a suitable funding option for their needs.
Rather than being in a remote office going through a tick box exercise, we actually go and meet every client. By investing time in getting to know the business and the team behind it, we can then provide them with a truly flexible solution which will fit the bill.
It’s not just me that has had my eyes opened, many of the intermediaries I speak with have welcomed the opportunity to introduce their clients to alternative finance which, it is safe to say, has never been stronger.
As Brexit hurtles headlong towards us, none of us can be certain about the impact it will have on the UK economy and businesses. However, we can be sure of one thing, the demand for fast and flexible finance will be even greater, either to help businesses weather the storm or quickly take advantage of opportunities that may arise.
As well as learning new tricks, I certainly feel like a dog with a bone. We have money to lend, a great team and lots of happy clients.