Reward Funding launches Strategic Asset Finance proposition

Reward Funding has introduced Reward Strategic Asset Finance as it looks to bolster its asset finance offering to brokers and SMEs.

The new proposition has been three years in development and follows a doubling of the lender’s specialist asset finance team.

Reward said the launch was designed to meet growing demand from SMEs for more structured refinance solutions, particularly where businesses are looking to release working capital, consolidate existing borrowing, or unlock value from assets already on their balance sheet.

Reward cited research showing UK SMEs were repaying debt at a rate 20 times higher than before the pandemic, with unsecured borrowing contributing to increasingly complex debt structures.

Nick Smith, CEO at Reward Funding (pictured above, left), said: “Too much of today’s lending market has become focused on speed.

“Just because finance can be arranged quickly, it doesn’t mean it’s the right solution.

“Businesses don’t need another loan, they need the right financial structure in place to support sustainable growth.”

He added that Strategic Asset Finance was a natural extension of Reward’s existing approach, with the lender looking beyond individual transactions to understand the wider financial position of a business.

Robert Still, managing director at Reward Asset Finance (right), added: “Every business is different, that’s why we never go into a meeting and lead with a pre-packaged solution.

“We take the time to understand the business itself, the existing loans, assets and the future ambition. Only then do we structure the right funding solution.”