Member Article

Goldcrest in expansion mode

Specialist lender Goldcrest has recruited a senior banker to head its trade finance division as it embarks on an ambitious expansion programme.

Mark McGuire has joined the Manchester-based company from Royal Bank of Scotland, where he spent four years as a senior corporate manager.

The qualified chartered accountant, who is 40 and married with two children, previously worked at Deloitte and Davenham Trade Finance.

In his new role as managing director of Goldcrest’s trade finance division, he will spearhead plans to double its lending to £20m a year over the next two years.

Goldcrest Trade Finance provides funding to enable small and medium-sized companies, mainly importers and distributors, to buy stock such as nursery goods, home wares, tools, textiles, clothing and gym equipment.

It typically lends between £250,000 and £500,000 at a time to growing companies which are constrained by a lack of working capital.

Mr McGuire takes over as MD of the trade finance division from Ravi Chawla, who becomes group managing director of Goldcrest.

Goldcrest also operates a property finance arm which currently has a loan book of £17m.

The group, which employs 12 staff, is based at Bartle House, Oxford Court.

Mr Chawla said: “The appointment of Mark is a key step towards our £20m target for the trade finance division over the next two years.

“We believe our products meet the market’s appetite for growth, and Mark joining us signals the start of an expansion phase for our team and our business.”

Mr McGuire said: “I’m delighted to join Goldcrest at a time when the outlook for business growth at last appears to be improving.

“Goldcrest offers facilities that can help SMEs to expand by removing cash constraints, and I believe there are good foundations in place from which to grow our business.

“We have a team in place with more than 20 years’ experience in managing import finance facilities and these are exciting times for Goldcrest.”

Future plans for the group include the introduction of additional specialist lending products as it targets new markets.

This was posted in Bdaily's Members' News section by Kevin Feddy .