David Jones, Nick Smith, Tom Flannery

Reward Finance Group marks 10th anniversary with record deal




Reward Finance Group has delivered a record £3.45m facility as it celebrates its 10th birthday.

The loan — which was completed in less than a week — was used by the client to refinance more than 70 commercial and residential properties.

This is the biggest facility the company has lent to an SME.

This brings the total amount lent by Reward Finance Group to more than £700m.

Since its start in 2010 in Leeds, the specialist alternative finance provider has seen continuous success year-on-year, and has extended its presence in Manchester.

It has also enlarged its team throughout the years to support the expansion, with now 30 people working across the two offices.

This year, Reward completed a succession plan by promoting Nick Smith to group managing director, hiring Gemma Wright as MD for Yorkshire and the North East, and appointing Steve Noble to head up the North West region.

David Jones, co-founder and director at Reward Finance Group, said: “The company was born from the post-credit crunch era, when banks were regrouping and the lending market was in disarray.
 
“We spotted the opportunity to plug the gap the banks were leaving behind with the gradual withdrawal of overdraft facilities.
 
“Initially, we were looking at a three- to four-year window to provide short-term gap funding on a secured basis, and here we are, 10 years on and still successfully providing short-term working capital to SMEs.”

Tom Flannery, co-founder and director at Reward Finance Group, commented that he was very proud of the business and the “phenomenal” success it had achieved.

“It has been a fantastic 10 years, which have shot by.

“It is ironic that, having started in a recession, we are beginning the next decade in another one due to coronavirus. 

“However, we are continuing to provide deals to SMEs, including the record one this month, so I have no doubt the next 10 years will be even more successful.”

Pictured above (L-R): David Jones, Nick Smith and Tom Flannery

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