Historically, lenders have focused on the London market, however, this trend has changed in recent years, with many specialist lenders increasingly looking to regional business hubs. One of the main factors behind this trend has been the Northern Powerhouse. The cities falling under this proposal have grown in popularity among alternative lenders, however, we feel that many of the deals continue to be serviced by employees within London, rather than those firms with a specialist regional focus. Nucleus Commercial Finance bucks this trend, as we have a strong national presence, with designated regional directors in each area.
Specialist lenders would do well to mirror the larger advisory and accountancy firms who have a significant regional presence as this reflects the UK’s SME footprint and, in my view, will enable more businesses to benefit from flexible finance solutions.
What, in your opinion, differs business-wise in the North of England and the South, or London?
Business-wise, the North has always been seen to have more traditional industries, such as manufacturing and logistics, whereas the South has tended to have more service-led industries. In recent years, however, we’ve seen the North innovate industries that have traditionally been manual by embracing automation. Similarly, the level of internal investments around research and development in this region have been unprecedented and have resulted in many new and improved ways of working.
What will you bring to this position from your previous roles?
Having spent the majority of my career at several of the bigger banks including RBS, Santander and, most recently, challenger Metro Bank, this has given me a broad range of experience across a number of sectors. I was involved in the full range of transactions from ABL (asset-based loan) leveraged transactions to acquisitions and mergers, to more traditional invoice finance.
This has, ultimately, given me an insight across a broad range of businesses, sectors, and management teams, allowing me to react to the various different challenges and scenarios businesses across the UK face.
Do you expect there to be a surge in the number of alternative finance providers entering the market over the next five years?
Yes — not only are businesses increasingly relying on additional finance to achieve their business ambitions, but stricter lending criteria from traditional lenders post-2008 has given alternative lenders like ourselves the opportunity to rise up to the challenge. With the ability to provide faster decisions and more flexibility to SMEs, alternative lenders have been able to position themselves as a primary solution to funding challenges. We’ve already seen this trend once before, following the last financial crash, and expect to see this continue after the current crisis we’re facing.
How did you get into the industry?
A career in finance was something that always interested me, but I must admit I felt it was less welcoming to women than men. I can happily report I was wrong! The finance community I work in is a mix of people from all walks of life and backgrounds — and it makes for a truly rewarding and enriching career. Knowing that your hard work has helped financially support not just our economy or an SME, but the employees of that business, leaves you with a massive sense of achievement.
If you didn’t work in finance, what would you be doing?
I would love to be a travel writer! I appreciate seeing and experiencing different cultures and customs and would enjoy travelling and living among the many diverse communities while writing a travel journal.
Leave a comment