IN BUSINESS Post-recession business lender signs new deal
ARUNCORN- BASED small business lender has struck a multi-million pound deal with Conister Bank.
Creative Capital, which has headquarters at Heath Business And Technical Park, said the £3.5m facility will mean the client can meet demand for finance on a transaction-bytransaction basis.
A spokesman said the firm provides rapid access to invoice finance, trade finance and stock finance facilities for a diverse range of small and medium-sized enterprises (SMEs) including importers, wholesalers, manufacturers and those in construction.
Launched in 2010, Creative Capital was set up in response to a reductions in traditional high street lending to SMEs after the financial crisis and recession.
The spokesman said Creative Capital has provided over £100m of funding to over 250 businesses looking for growth opportunities such as contract wins, large orders, international deals or seasonal spikes.
The business employs a team of 10 and has a presence in the North West, South East, Yorkshire and the Midlands.
Sam Forshaw, Creative Capital sales and marketing director, said: “This is a significant milestone that enables us to ramp-up support for UK SMEs and accelerate the development of our innovative model of finance provision and client support.
“In these uncertain times, flexible short-term funding is proving extremely popular as business owners increasingly look to exploit growth opportunities whilst remaining fleet-offoot.
“Very few providers offer the range of facilities we do to SMEs.
“By combining the support of Conister Bank with the existing backing of private investors, we can help more small businesses access tailored funding solutions that meet their exact needs.”
Douglas Grant, Conister Bank managing director, said: “We are delighted to be providing a revolving credit facility to Creative Capital who deliver vital funding and support by way of short-term working capital facilities which form an important sector of the SME market.
“Creative Capital’s innovative model along with our RCF will create future opportunities for growth and diversification of products. We look forward to working alongside and supporting the team.” ●