Fresh Think­ing Cap­i­tal reaches its £10m tar­get

Yorkshire Post - Business - - FOCUS ON SMES - Is­mail Mulla BUSI­NESS RE­PORTER @Is­mailMulla

Se­cured lend­ing busi­ness Fresh Think­ing Cap­i­tal has achieved its tar­get of pro­vid­ing more than £10m of loans to small and medium sized busi­nesses need­ing fi­nance to make the most of op­por­tu­ni­ties.

Fresh Think­ing was es­tab­lished by York­shire cor­po­rate fi­nanciers Me­lanie Hird, in­set, and An­drew Walls in Jan­uary 2018.

It has pro­vided se­cured short to medium term lend­ing for busi­nesses rang­ing from nurs­ing homes, food firms and on­line re­tail­ers to man­u­fac­tur­ers, house­builders and prop­erty de­vel­op­ers.

Leeds-based law firm Clar­ion has been work­ing with the lender as a le­gal part­ner.

“The key to our suc­cess has been the speed at which we are able to lend – it usu­ally takes just five to ten days from the ini­tial meet­ing for us to de­liver the deal and this fast turn­around is of­ten vi­tal if a com­pany is to take ad­van­tage of an op­por­tu­nity,” Ms Hird said. “We launched the busi­ness with funds of £30m on de­posit for im­me­di­ate lend­ing to SMEs and there has proved to be huge de­mand for our ser­vices.”

Philip Dine, le­gal di­rec­tor in Clar­ion’s bank­ing team, said: “With their sub­stan­tial ex­pe­ri­ence of in­vest­ing in SMEs over the last ten years, Me­lanie and An­drew have the ex­per­tise needed to fill the gap in the mar­ket for swift short to medium-term lend­ing. ” Ms Hird added: “Hav­ing such a close re­la­tion­ship with Clar­ion, de­vel­oped over 15 years of work­ing with the firm, is in­stru­men­tal in en­abling us to op­er­ate to such tight timescales.

“It’s great to have a le­gal part­ner on board who we can trust to de­liver as we work to­wards achiev­ing our tar­get loan book in ex­cess of £100m.”

Mr Walls said: “We’ve had a tremen­dously suc­cess­ful first nine months and are now look­ing for­ward to grow­ing the cur­rent team of eight in re­sponse to client de­mand. We are also plan­ning to ex­pand from our bases in Leeds and Lon­don and es­tab­lish a na­tional net­work of of­fices, giv­ing us easy ac­cess to SMEs through­out the UK.

“There will be fur­ther up­dates on our next of­fice launch shortly.”

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