Reward Finance Group, the Leeds and Manchester-based alternative finance provider, has posted another record list of year-end figures.
During the path of the entire year ending February the organization delivered over 120 new deals, an improvement of 32% across the previous year.
Year-end loan book increased by 29% to 53 million, which provided fee and interest earnings of 9 million C up from 7.5 million the prior year.
Profit before tax hit 4 million with the information is just Reward’s sixth 12 months of operation.
In addition, following demand from clients and introducers, Reward increased its maximum loan term to 2 years which is facilitated by using an additional 40 million cash injection, by Foresight Group, throughout 4 seasons.
The growth was facilitated via the opening on the new Manchester office along with the recruitment of nine experienced people across both offices, who has almost doubled the c’s.
Tom Flannery, Joint Md of Reward Finance, said: “Quick decisions and certainty of delivery, on near future lending, were a couple of things which in fact had basically disappeared for SMEs.
“Over the time we’ve expanded our selection to make sure we will meet the many earnings requirements of businesses and ensuring you possesses the funds as soon as they need them.
“To be ready to accomplish this it was imperative to produce a knowledgeable and empathetic team to consider a regular sense approach and create durable relationships through responsible lending.”
Nick Smith, Group Sales and Marketing Director of Reward Finance, added: “It was an excellent year at all times and we are keen to build on our continued success by attracting all the more experienced and well-connected funders to the team. We shall be also emphasizing establishing ourselves as a key player inside the North West.
“Consistency, transparency plus the capability understand a client’s borrowing needs, to create a bespoke solution around them, will be the values that underpin the Reward model.”