SME funder receives £50m credit line increase from alternative investment manager

A London based SME funder has received a £50m increase in its credit line from alternative investment manager, Foresight Group.

Reward Finance Group’s recent regional expansion programme, has allowed the company to look to the future, with plans to double the size of its business in the next three years.

The increase in credit line brings the total provided to Reward by Foresight to £130m, the largest credit facility the Foresight Structured Lending team has agreed to date.

This follows another impressive 12 months for Reward with the launch of new funding products and the opening of three new offices in the last nine months.

Nick Smith, Group Managing Director of Reward Finance Group, said: “It is excellent when a third party shares your vision for the future and is assured by your business model and projections. For Foresight to support us by increasing our credit line to a record £130m is a ringing endorsement of the way we operate.

“Our three new offices, in Birmingham, London and Edinburgh, have been a great success giving us added confidence to expand our regional office network further, especially now we have an additional £50m to lend.

“… We are very proud of this achievement, as it is a standout performance in the alternative finance market, and new offices and products are already in the pipeline to ensure this success continues.”

Want your business, product or service to be seen regionally and nationally? Bdaily helps you get your story in front of the right audience, every day. Find out how Bdaily can help →

Join more than 55,000 subscribers by signing up to our daily bulletin each morning here.