New director for Cheshire-based alternative finance provider
Creative Capital, a Runcorn-headquartered provider of short-term finance to SMEs, has made a high profile hire with the appointment of Vince Tovey as a director.
Vince joins the team with over 30 years’ experience across organisations including HSBC International Trade Services, Aldermore Bank and Ultimate Finance Group.
He further strengthens Creative Capital’s credit control function and trade finance team, which advances working capital so SMEs can acquire the stock needed to fulfil sizeable new contracts.
Vince's appointment follows the recent £3.5m deal with Conister Bank, which enables Creative Capital to meet increasing demand for its services from importers, wholesalers, manufacturers and construction SMEs.
Launched in 2010, Creative Capital has provided in excess of £100m of funding to over 250 businesses looking to capitalise on new growth opportunities such as contract wins, large orders, international deals or seasonal peaks in demand.
The national business employs a team of ten and has staff based in the North West and the South East.
Sam Forshaw, sales and marketing director at Creative Capital, said: “Vince is a highly experienced, well-respected figure in this space and it’s fantastic to have someone of his calibre join our established team.
“Flexible short-term financial support is a lifeline to SMEs that may have been turned down by traditional lenders. We can look at a deal on its own merits and make a rapid lending decision based on the strength of a business and the quality of the specific opportunity.
“Our focus is on plugging this funding gap and ensuring smaller companies can access a broad range of financial tools to facilitate growth. Vince will play a key role in the continued development of our business thanks to his expert knowledge and contacts.”
Vince added: “I’m thrilled to be part of this innovative, nimble organisation which has a clear understanding of what SMEs require and will move heaven and earth to help them achieve their business goals.
“We’re all aware of the impact uncertainty is having on small and micro-SMEs, particularly those that rely on imports and exports from the EU, which means many need that extra bit of support.
“It’s a pleasure to be working with a team that’s so focused on helping provide certainty around funding and unlocking growth for ambitious organisations.”