The team at Clarion has helped Reward Finance Group advance £4.5m of funds to complete a record ten deals in ten days.
The deals were completed on behalf of Reward’s three businesses – Reward Capital, Reward Invoice Finance and Reward Trade Finance – and come as the Leeds-based lender sees unprecedented demand for its services.
The completed transactions include:
- the purchase of £300,000 of electronic skateboards through Reward Trade Finance;
- a £500,000 bridging facility against credit card receipts for a music festival from Reward Capital;
- and a £150,000 funding line for a scaffolding firm that included a significant overpayment from Reward Invoice Finance.
Jonathan Simms, corporate partner at Clarion, said the Leeds-based law firm had assembled a dedicated team to service the recent flurry of activity from Reward.
“Reward Finance Group has been extremely active in the regional deals market in 2015 and this latest milestone is further evidence of this,” Mr Simms said.
“A number of these deals were completed in extremely short timescales, including a £1.2m property purchase completed within 48 hours of instruction. The frenetic period necessitated our staff having to work around the clock to meet demand.
“Clarion has a long-standing relationship with Reward and we’re always delighted to support Dave Jones, Tom Flannery and the team as the lender meets a much-needed demand in the small and medium-sized business marketplace, a sector that provides more than half of all private sector jobs in the UK. It is a privilege to be part of a team that prides itself on being deal makers and not deal breakers.”
Dave Jones, joint managing director at Reward Finance Group, added: “The school holiday period is perceived as being a quiet period for the deals market. However, August has seen Reward experience its busiest month on record, finishing with 10 deals in the final 10 days leading up to the bank holiday weekend.
“Being able to complete deals in extremely short timescales means we can help businesses maximise opportunities that they may well otherwise miss out on. Reward could not achieve this without Clarion’s own speed and efficiency of delivery.”
Source: Finn Communications