Commercial Finance Specialists

Reward Commercial Finance, based in Leeds, has funds in excess of £10 million to lend to small and medium-sized businesses in Yorkshire.

The commercial finance company is looking to invest between £50,000 and £750,000 in firms looking to expand their businesses, and hopes to target the manufacturing, engineering and distribution/haulage sectors.

Reward Commercial Finance becomes a sister company of short-term business lender Reward Capital. Reward Capital provides short-term investments and bridging loans and has already lent over £2 million to six businesses since its inception in 2010.

Reward Commercial Finance, on the other hand, is seeking to develop longer affiliations with its beneficiaries and to provide "revolving loans" that grow along with the companies.

Partner Andrew Ward stated the firm's belief in investing in people, and looked to distance their approach from banks:

"We're looking to buy into people, into businesses that want to expand and want to achieve things, but they can't get money from traditional sources.

"We're different to banks because we're quick, we're local and we're very flexible about the assets we lend against".

The company has said that they will offer flexible invoice and asset-supported finance solutions to businesses seeking flexible capital funding, and it will be supported by the same South African based investment company which has backed Reward Capital to date.

The news comes as a timely boost for Northern firms seeking finance as the quarterly reports from the Confederation of British Industry show confidence among small and medium-sized businesses to be especially low.

Business failures in the third quarter of 2011 exceeded 4,000, reaching a two-year high, leading to concerns that a double-dip recession may not be avoided.