New commercial packager launches promising 'best-in-class' service

New commercial packager launches promising 'best-in-class' service




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A new commercial packager has just launched, promising intermediaries a relationship founded on “quality products, excellent service levels and competitive rates of commission”.

Based in Newcastle, from where it will carry out its underwriting and administration, and York – where the sales team is based – Commercial Finance Solutions (CFS) launched yesterday and hopes to have up to ten underwriters and four regional BDMs recruited by mid-December, when it launches its interactive website.

 

“We have access to a strong stream of funding,” says CFS managing director Kevin Pitt.

“Like all new businesses, we’re not looking to be flooded with applications. What we’re keen to do is grow organically, and increasingly turn on the intermediary community to our added-value proposition.

 

At present brokers can visit the CFS website and access further information and a contact telephone number but can’t yet apply online, this faculty will be in place by mid-December, say CFS. 

 

“There are some significant opportunities for a new entrant like us to make a big impression in the sector,” adds Mr Pitt.

 

“We have some really attractive products at our disposal – with rates from as low as 3% – and we’ve got a real appetite to meet the needs of small and medium-sized businesses and entrepreneurs who are in need of commercial finance.”

 

The packager boasts of “access to a panel of High Street and specialist lenders who have a real appetite to lend money”, but offers brokers a whole of market proposition also.

 

“We hope to bring some clarity to a market, which during the last few years has become confusing for the average intermediary that doesn’t specialise in the commercial sector. These people have genuinely not known which lender to turn to.

 

“As a result, a lot of potential lending has been lost – and small businesses have increasingly become frustrated with the financial community,” says Mr Pitt.

 

Believing its rates of commission to be highly competitive, CFS guarantees the broker 0.5 per cent on deals worth in excess of £225,000, but says it expects to pay one per cent on a significant number of deals where the introducer has ‘assisted in the packaging process’.

 

A spokesperson for the firm said the packager aims to complete 40 cases a month and lend £60 million in their first quarter.

Commenting on the timing of the company launch, Mr Pitt added: “We think it is a great time to be launching – and we’re looking forward to a very rewarding and busy Christmas and New Year.”

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