Based out of key hubs in London, Epsom, Manchester, Bristol and Yorkshire, Newable Finance will offer specialist advice and access to hundreds of lenders, from high street to specialist and introducer-only, helping businesses to navigate the increasingly complex lending landscape.
Led by Managing Director Philip Reynolds who has been at Newable since 2017, the new team will fill a gap in the market between large corporate advisory firms and smaller, local brokers. It will provide a bespoke service for SMEs and property-backed businesses that are typically looking to borrow up to £3m, with an unrivalled understanding of the local business landscapes where they are operating.
Newable Finance is now also brokering external loans under the Coronavirus Business Interruption Loan Scheme (CBILS), working with an extensive panel of CBILS-accredited lenders. While not currently underwriting its own CBILS loans, as one of the first accredited lenders of CBILS, Newable Finance is uniquely positioned to advise SMEs on the options available to them.
Newable Finance builds on Newable’s unrivalled track record in helping small businesses at the heart of the economy, supporting some 25,000 SMEs in 2019. Newable’s suite of services includes International Trade advice in partnership with the Department for International Trade, Innovate UK grant application support, and short-term business loans for revenue generating SMEs. Earlier this year, Newable launched NewFlex, which creates and operates a range of flexible office solutions including brands Citibase, Serendipity Labs, easyHub and Bold, as well as bespoke white label products.
Philip Reynolds, managing director of Newable Finance, comments:
“We have launched Newable Finance as we felt that there was a shortage of advisors in the market who can represent SME interests well to a broad spectrum of lenders. The lending landscape for SMEs is becoming increasingly complex, with many nuances, particularly at regional level that can take significant time to unpick, unless you have the right expertise and experience”.
“Equally, as one of the first accredited CBILS lenders, we have an in-depth understanding of the lending landscape and can utilise our own expertise to advise businesses and connect them with the right lenders. We look forward to continuing to support the vital small businesses at the heart of our economy.”