Ludgate Finance changes name to Ricosta Capital to reflect broader focus in creating value for SMEs
Change is overdue and banks and lenders must adapt to support SMEs in post Covid world says Director of Ricosta Capital
Midlands based financial services provider Ludgate Finance has officially changed its name to Ricosta Capital with effect from 1st January 2021. The new name reflects the strategic changes Director Richard Mason is instigating to broaden the focus of the business and concentrate on helping SMEs to create generic value rather than simply raising funds.
Richard, who since 2016 has secured funding of over £100 million on behalf of small and medium sized businesses across the Midlands, says the change is long overdue and reflects the broader focus businesses will need to take in order to be successful in a post Covid economy. He said; “At Ricosta Capital we take a broader view of the term ‘capital’ or assets. In our minds it is not just about finance but can also be applied to a variety of assets including social, environmental or human as well as the traditional view of capital as financial.”
Mason recognises that it is not only businesses that need to be flexible and creative in order to be successful, but banks and lending providers must also adapt. He said, “In the fragmented complex world we live in many businesses do not fit neatly within the financing credentials banks are imposing, but they doesn’t mean a business are not, or cannot be, successful, once they have the means and opportunity to grow”.
Mason concluded: “At Ricosta Capital our approach is relational because we believe that businesses are holistic. We are passionate about helping successful businesses that are not only financially profitable but also benefit the people and the communities they serve. We help businesses to grow through astute financial management but ultimately the growth we are seeking is of a nature that will also impact society and the environment as well as generate financial profits.
For more information about Ricosta Capital, the rationale behind the rebrand and the services it offers to SMEs, please go to www.ricosta.capital.