The specialist lending sector is thriving and, over the past few years, has altered the landscape of the finance industry. However, businesses across the South Yorkshire region could still be missing out on opportunities due to a lack of awareness regarding these alternatives to banks, warns specialist lender Together.
Also referred to as alternative finance, the term, specialist lending, is essentially the collective name for the many avenues available for raising finance other than the traditional high street lenders.
Together’s regional development director for Yorkshire, Barry Dillon, said: “This lack of awareness of the alternative finance market will mean that businesses, particularly SMEs, could be unnecessarily missing out on opportunities.
“Typically, our finance is used for a range of purposes, such as purchasing a property; be that residential, commercial or semi-commercial, releasing equity or facilitating a management buy-out.
“As a specialist lender we have greater flexibility than those in the mainstream market, meaning we are able to act faster, allowing businesses to move quickly on a purchase or investment.
“I bring Together’s common sense approach to the region, offering the professional sector the opportunity to enhance their offering and opening doors for businesses that may not meet the criteria of traditional lenders for a variety of reasons. As a specialist lender, we can unlock funding for SMEs and investors when their high street bank is unable to assist.
“Our figures are testament to our success – we announced record lending in the year to 30 June, 2017, and have a current loan book of £2.37 billion.”
“As these figures show, whilst the landscape of the finance market may have changed dramatically, there are many options available for both businesses and individuals to find the finance that’s right for them – it’s just about knowing where to look.”
For businesses looking to grow, the specialist finance market is ideally positioned to help.
Operating across South Yorkshire and throughout the UK, Together offers a wide range of finance including short-term finance, auction finance, residential, commercial and buy-to-let mortgages and secured loans.
Together considers bridging loans for residential investment properties, semi-commercial and commercial properties, property developments and land acquisitions. Loans vary from £26,000 to £5 million with flexible terms and LTVs depending on each individual application.
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