Snowball Alternative Finance

Snowball searches for £25m funding partner

Snowball Alternative Finance has been appointed by Preston Trampower to arrange the £25m funding for the latter’s project to reintroduce trams to Preston.

The deal will see the alternative finance broker advise on the funding strategy as well as producing business plans and financial models for the project.

Artist’s impression of Preston Trampower’s tram stop and platform

Commenting on the firm’s appointment, Peter Black, managing director at Snowball Alternative Finance (pictured top, left), said that it was delighted to be working with Preston Trampower on what was an amazing project.

“We are working closely with the team and looking at a wide range of funding options from local, regional and national sources.

“What is really exciting is that planning permission has been secured for the first part of the line.

“This is a 1,250-metre-long pilot line in the Deepdale area of the city.

“Eric Wright Civil Engineering has been appointed, so it’s now a matter of securing the funding, then it will be all systems go.”

Also pictured: Alwin Thompson, chairman at Snowball Alternative Finance

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