Fresh Thinking Capital

New SME lender launches




New SME lender Fresh Thinking Capital has launched this week following a £30m investment.

The firm will provide secured lending loans of between £100,000 and £2m to help small- and medium-sized businesses in the UK.

It will initially launch loans secured against assets, including property both inside and outside of the business.

The lender has been established by Yorkshire corporate financiers Melanie Hird (pictured above, left) and Andrew Walls (right).

The pair have a solid track record over the past 10 years of investing in and supporting SMEs.

Fresh Thinking Capital’s headquarters will be in Thorpe Park, Leeds, with an additional office in London.

Melanie said: “There is still a gap in the lending market to SMEs here and across the UK, and the first fund we have established has given us £30m to lend immediately to these businesses.

“We know that good businesses often have urgent lending needs and quite often an opportunity arises – such as winning a new contract or acquiring a business or asset – but the slow speed at which funding can traditionally be raised results in the opportunity being missed.

“The level of governance and red tape in place in financial institutions means it is impossible for many lenders to move quickly and this is hindering the growth of businesses.”

Melanie and Andrew have received backing from a private investor and secured deposits of £30m initially for five years, with a view to deploy further funds.

Co-founder Andrew added: “We are already working with other lenders – including banks, ABLs and equity funders – to bridge gaps to ensure refinances and transactions complete.

“We are encouraged following a number of discussions we have already had with banks and management teams, who see the benefit of utilising short-term funding to be able to take advantage of opportunities which can be refinanced in a more normal timetable in due course.

“We have set up the business in order to streamline the lending process, and [have] the full fund on deposit, together with a completely flexible approach to structuring loans.

“We listen to the customer’s requirements and tailor the funding to suit rather than one size fits all.

“Even when deals don’t suit our secured debt offering, we work with our London office or introduce [it] to our network of equity investors, asset-based lenders or alternative funders.

“In most cases, we find a solution for the client.”

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