Latest Patron news – October 2017

ESF/ThinCats announces £200m funding programme to support lending to UK SMEs
ESF Capital, together with its operating subsidiary, ThinCats, has concluded a funding programme for loans of up to £5m for growing UK SMEs. This £200m programme comprises £30m already committed by ESO Capital, £70m concluded with Waterfall Asset Management LLC and the balance to be provided by Waterfall and other institutional investors, subject to certain conditions. All funds under the programme will continue to be invested in loans originated through ThinCats, Europe’s leading secured lending platform for SMEs. More information can be found online here.

Together moves up the Sunday Times Top Track 250
Specialist lender Together has again been listed in the Sunday Times Grant Thornton Top Track 250, climbing 56 places from last year in the prestigious league table which ranks Britain’s private mid-market companies by latest sales. The listing for Together confirms an increase in both sales and operating profit of 27 per cent for the 12 months to 30th June 2016 and the lender has continued to grow since, with record results recently announced for 2017. Together also recently announced a further increase and diversification in funding due to a new, successful £275m debut residential mortgage-backed security to support its ambitious plans.

Just 8% of development finance brokers believe the government will meet its one million new homes target
In a recent poll by United Trust Bank (UTB) of over 100 intermediaries working in the fields of property and asset finance, just 8% of respondents said they believe the government will meet its one million new homes target by 2020. Not a single broker dealing in development finance expected the government to exceed it.

The broker sentiment survey, carried out by UTB in August 2017, had 126 responses and of those operating in the field of development finance, 74% expect that the industry will fall short of completing one million new homes by 2020. When asked to indicate what they believed to be the foremost barrier to business for SME housebuilders, the most common selection was developers’ ability to find good land and redevelopment opportunities, closely followed by problems with the planning process.

Asset Finance Solutions appoint new sales director
Asset Finance Solutions (AFS), the UK’s leading asset finance broker network and independent funding provider, are pleased to announce that Lee Simms has been appointed as sales director. Since joining AFS from Lombard back in 2015, Lee has held the position of business development director. Lee’s new role will now give him a wider responsibility within AFS, working closer with our funder panel, the franchisee network and the head office support team. The directors wish Lee all the best of success in his new role.

Investec 2017 broker conference – register now
This year, Investec’s broker conference is focused on shaping the future. How will Brexit, regulation and an ever-changing market impact us? We’ll delve into how talent management, courage and diversity can help you approach the changing environment with positivity, making the most of the opportunities to shape your future. Hear from our guest speakers: Andrew Mitchell, MP for Sutton Coldfield, and Philip Shaw, Investec chief economist), for an insider’s view on politics and a perspective on Brexit. More information can be found online here.