Reward fuels £900,000 forecourt revival

An alternative lender has backed the redevelopment of a dormant petrol station with a funding package to bring the site back into use.

Reward Funding has provided a £900,000 facility to Linthouse Service Station in Wolverhampton to support the acquisition and redevelopment of a non-trading forecourt. 

The deal, introduced by Sterling Financial Planning, marks the first completed transaction between the two firms.

Bosses say the funding enabled the purchase of the site within a tight timeframe, despite traditional lenders declining to support the project due to its reliance on projected performance rather than historic financials.

The redevelopment will see the installation of new fuel tanks, a modern forecourt apron and canopy, as well as a significantly expanded retail shop.

Linthouse Service Station’s owner has previous experience in the sector, having successfully delivered two other forecourt projects in the past year.

Danny Ahmed, director of Linthouse Service Station, said: “Reward backed our vision when others paused. 

“They moved fast, asked smart questions and supported us based on what we’ve built and where we’re going.

“We’re excited to see where the future will take us.”

John Pulahi, managing director of Sterling Financial Planning, added: “This was a great first deal to secure with the Reward team. 

“Their decisiveness, flexibility and understanding of ambition were second to none.

“It marks the start of what I am confident will be a strong and productive relationship, made possible by Reward’s genuine appetite for lending and their pragmatic view of risk.”

Carl Perry, business development director for Reward Funding, added: “Timing and trust were critical to this transaction, and it required a lender willing to look beyond rigid criteria and tick boxes. 

“It also marks the first of what we expect to be many deals with Sterling Financial Planning, a partner that, like us, sees the opportunity beyond the obvious.

“This is exactly the type of opportunity where our approach to lending can add real value for entrepreneurs wanting to grow their business.”

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