Friday, September 24, 2021

Lending business hits £10m milestone with help from Leeds law firm

The last nine months has seen Leeds law firm Clarion help lending business Fresh Thinking Capital achieve its first-year target of providing over £10 million of loans to SMEs.

Since being launched by Yorkshire corporate financiers Melanie Hird and Andrew Walls in January 2018, Fresh Thinking Capital has provided secured short to medium term lending for businesses across the UK.

These companies range from nursing homes, food firms and online retailers to manufacturers, house builders and property developers.

Typically, a borrower is an entrepreneur with various SME investments who requires cash of between £250,000 and £2 million for working capital funding, acquisition finance, top up funding or growth capital.

Terms range from three months to two years, secured by assets in the business or personal assets held outside the business.

“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,” said Ms Hird.

“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.

“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 £100 million.”

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.”

Co-founder of Fresh Thinking Capital Andrew Walls added: “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.”

A message from the Editor:

Thank you for reading this story on our news site - please take a moment to read this important message:

As you know, our aim is to bring you, the reader, an editorially led news site and magazine but journalism costs money and we rely on advertising, print and digital revenues to help to support them.

With the Covid-19 pandemichaving a major impact on our industry as a whole, the advertising revenues we normally receive, which helps us cover the cost of our journalists and this website, have been drastically affected.

As such we need your help. If you can support our news sites/magazines with either a small donation of even £1, or a subscription to our magazine, which costs just £31.50 per year, (inc p&P and mailed direct to your door) your generosity will help us weather the storm and continue in our quest to deliver quality journalism.

As a subscriber, you will have unlimited access to our web site and magazine. You'll also be offered VIP invitations to our events, preferential rates to all our awards and get access to exclusive newsletters and content.

Just click here to subscribe and in the meantime may I wish you the very best.

Latest news

Related news

By continuing to use the site, you agree to the use of cookies. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.