Fresh Thinking Capital reaches its £10m target
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.”