Reward Funding breaks £350m lending landmark
Reward Funding, the original lender in the alternative finance industry, has broken through the £350m loan book landmark for the first time in the business’s 15-year history. The achievement stands as a proof point underlining the growing belief in Reward’s decisive, dependable funding model.
The business has backed over £1.45bn of ambition so far, with deals and funding options continuing to expand nationwide. Since the last landmark, Reward has added 15 new team members and backed 625 clients in total, expanding the business’s footprint across the UK.
Nick Smith, managing director for Reward Funding, said: “£350m isn’t just another number, it’s proof that our approach works. We back ambition quickly, and we back it well. That’s why more clients and introducers are choosing Reward. The whole country is in a difficult position with the state of the economy at the moment, and our team is ready to support those in need with our fast, flexible funding.”
“To have grown our loan book by a further £50m in less than a year shows the market is rewarding a different kind of lender, and it truly reflects our speed, instinct and decisiveness to support SMEs with their funding requirements.”
Reward continues to play a pivotal role in driving forward the alternative finance industry and is able to support more niche, flexible lending options in industries others may turn away from. In recent months, the number of clients in the leisure and hospitality sector has increased, and where other lenders step back, Reward steps in. This demonstrates Reward’s willingness to look beyond the surface and back experienced businesses with strong plans.
Reward also acts as a voice for SMEs in times of economic flux, advocating for the government and other bodies to place these businesses, often referred to as the lifeblood of the economy, at the centre of upcoming financial decisions.