What are two key things holding businesses back today? – by Nick Smith

In my role at Reward Finance Group, which covers both our Leeds and Manchester offices, I get to meet and talk with many companies and financial introducers. It will be no surprise that two things continue to frustrate and hinder business growth.

The first is the continuing saga with Brexit; the second is the lack of understanding of business funding needs from traditional lenders, the inability to talk to a decision maker, and the length of time it takes to receive the funds. That’s if the application is approved in the first place!

Unfortunately, we are unable to speed up the conclusion of Brexit. Perhaps things will move forward after the election…or maybe not.

However, we can help with business funding for SMEs.

That’s because we are unlike other lenders, who may look for reasons to turn an application down. In fact, we do the opposite, as we are keen to lend to help benefit a company’s growth.

With a mission of ‘Driving Business Forward’, and with a flexible approach to lending, we explore all funding options in order to give each business the best chance to succeed.

We recognise that every company is different, so we don’t employ a ‘one size fits all’ approach. Nor do we want to put people through a frustrating ‘box ticking process’ because we know time is of the essence.

Instead we quickly get to know the management team, review the business plan and look at past performance to ensure we provide the right finance, at the right time and on the right terms.

The fast turnaround we provide has enabled hundreds of companies to take advantage of a great deal, progress a new business opportunity, invest in state-of-the art equipment or simply solve a short-term cash flow problem.

We also know that people do not like to be passed from one person to another; each time having to recount the same information. That’s why we allocate one very experienced point of contact who understands the company’s objectives and takes responsibility to help achieve them. Then, if things change, they are on hand to help adapt to the new requirements.

Take a look at our short video which sums up the way we work perfectly.

To keep the whole process simple, we don’t offer loads of different funding options, which invariably lead to confusion. Instead we provide two great products which do ‘exactly what they say on the tin’.

Although we will be going into greater detail in future columns; Business Finance provides short term lending which can act like a traditional overdraft; whereas Invoice Finance Plus releases money tied up in unpaid invoices. Both can help inject between £50k and £3m to help a company succeed.

And there is no limit to the type of company we can help. For example, we have recently arranged funding for a global solar energy business; an outdoor furniture company supplying luxury hospitality brands; a company supplying innovative gym equipment; and a business which has created the first virtual reality paragliding experience product.

So, if you are a business which knows it could do so much better by having the right funding to release your potential, come and speak to the team at Reward Finance Group.

With money to lend, two great products, no ‘red tape’ to tie you up in knots, and a friendly team that can make quick decisions and stay close to your business, we will soon become a valuable member of your team.

After all, we have built our success by driving other businesses forward.

For further information you can speak directly with one of our Business Development Directors: