Reward Finance Group, a national provider of asset-based finance, has posted record year-end figures for the ninth consecutive year.
For the year ending February 2020, income increased by 16% from £12.8m to £14.9m, with total lending growing by 12% to £78m. The company was incorporated in 2010.
During the year, 142 deals were completed, with client numbers now standing at 276 across its offices in Leeds and Manchester.
Nick Smith, group managing director of Reward Finance Group, said: “The results come against a background of continued investment in people and IT and a strong contribution from both our regional offices has driven these impressive results.”
Commenting on the situation since the pandemic was declared, he said: “During the pandemic, the business has continued to operate successfully and has supported existing clients that have been affected by the current challenges.
“Conversely, we are providing new funding for businesses that have seen unprecedented demand for their products and services. We are also providing working capital injections for several companies which have repurposed their manufacturing facilities to fulfil an urgent need for vital equipment, such as PPE.
“Throughout these testing times, our approach has remained unchanged and whilst new deals have been more difficult to complete, we have always found a way.
“Reward has continued to show its agility, flexibility and ‘can do’ approach to providing the funds and supporting the clients and we are well placed to continue as the lockdown begins to ease.”
Photograph: (from left) Steve Noble, Nick Smith, Dave Jones and Gemma Wright