The £300,000 move is part of an aggressive growth strategy for the secured commercial lending specialist that has seen rapid expansion over recent months. The offices at 17-19 York Place will be the new home for the two Reward businesses and their growing team of seven financiers and administrators which has more than doubled since the start of the year.
The SME lender has been at the forefront of the recent renaissance for asset based lending that is filling a vacuum of commercial funding left by bank lending policies over the past two years.
The venture is led by partners Tom Flannery and Dave Jones who joined the business in January.
Partner, Dave Jones said:
“We are serious about financing businesses that have a short to medium term need for funding and are able to offer assets that provide solid security."
Reward Capital was established in November 2010 with substantial financial backing and the aim of lending to businesses with a funding requirement for up to 12 months. The firm’s early success resulted in enhanced funding for 2012 and has enabled Reward to offer an invoice finance service if required, to support its secured asset funding proposition.
Partner, Tom Flannery, added:
“We are able to get under the skin of a business quickly to make entrepreneurial lending decisions and make loans to businesses that need a fast injection of cash to take advantage of business opportunities.
“The new larger offices will allow us to continue to recruit talented financiers and grow the firm as ABL continues to lead the market for commercial funding."
