TFG Capital launches £20m second fund for Yorkshire businesses

Yorkshire-based businesses will have the opportunity to benefit from a further £20m provided by secured lender TFG Capital.

Established in September 2014 by Yorkshire based financier James Mortimore, TFG Capital specialises in providing property and asset backed cash flow and bridging finance.

In the past ten months alone, TFG has completed 27 deals and lent over £13.5m.

Initially launching with a fund of £7.5m, TFG rapidly increased its funding lines and currently has a loan book in excess of £10m.

James Mortimore explained: “We knew that there was a real need in the region for flexible lending that enables borrowers to access funding quickly for corporate or property transactions.”

“Fortunately we have been able to secure new lines of funding to meet demand and with this latest fund we now have total funds of £30m available to support borrowers who may have been unable to secure funding from traditional lenders or who require monies very quickly.

He added: “Our ability to swiftly provide individually-tailored, secured funding within flexible parameters resulted in our first fund very quickly being fully subscribed. Further backing has enabled us to offer additional lines of finance – the funds are there and we’re keen to lend.”

With offices in Leeds and Doncaster, TFG provides short and medium term loans of between £50k and £3m. Recent deals include a £1.4m property refinance to give the client time to complete a larger sale transaction; and a debt and equity deal providing £2.4m of funding to

Enjoy Pubs to part-finance its acquisition of Parity Bars and its portfolio of leasehold pubs.

Mortimore commented: “It is frustrating that so many viable businesses and entrepreneurs are still struggling to access appropriate funding. Our approach is to consider every enquiry on its individual merits and look for a way of working with the client to provide funding appropriate to their needs and in line with the security available.”

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