Midlands commercial finance brokerage Embark Finance, is reporting a twenty percent increase in the total value of alternative lending made so far in 2012, compared to the same period last year.
The Lutterworth company, a specialist in raising working capital by leveraging clients’ assets, provides alternative finance within the invoice finance, factoring, asset and trade finance arenas and works especially with SMEs.
So far this year, it has financed a number of invoice finance deals totalling in excess of £7.5 million.
This includes finance for a start-up textiles business which had previously been turned down by its bank, as well as a £2.5 million turnover drainage business, a building products company, joinery business, new start logistics business and an importer of wall art.
Commenting on the figures for 2012, Embark Directors Richard Keenan and Mike Bailey, said: “Compared to the first half of 2011, 2012 has shown a substantial twenty percent improvement in the amount of finance raised for SMEs in the Midlands and across the UK. Despite the slow economic conditions, our clients are showing real signs of positive business activity.
“Many deals have required a speedy turnaround, with us finding and securing finance in some instances within less than fourteen days. The rest of 2012 is looking busy.”
