Among the SMEs in the region which benefitted from Reward’s support in the last 12 months is a start-up company in the East Midlands which specialises in importing commercial refrigeration products to sell to businesses.

The firm received a £250,000 loan from the specialist lender in order to help it overcome cashflow challenges caused by the financial delay between importing goods from the supplier and receiving payment from the end trade customer.

Reward also supported a Stourbridge-based used car dealership with a £200,000 business finance facility, which will offer the firm the flexibility to purchase and sell more high-end vehicles when they become available.

The company attributes its success in the region to its lending product and speed of delivery, as well as to Reward’s business development director, who is leading the Birmingham office, Steph Brown (pictured above, left).

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“The first 12 months of establishing any business can be challenging, so to go on such a rapid growth trajectory has been very satisfying,” said Steph.

“I feel it’s largely down to going the extra mile for clients and the continued hard work and expertise within the team we’re building here in the Midlands. 

“We’re immensely proud to be funding the ambitions of so many SMEs across the region.” 

Nick Smith, group managing director at Reward (right), added: “The phenomenal success achieved by our office based in Birmingham in the first 12 months of trading has completely exceeded our expectations. 

“It’s largely down to Steph and her team developing a deep understanding of our clients’ business needs, ability to move at pace and flexible approach to finding the right finance solution.

“£5.2m is a significant sum to inject into the region’s economy in just 12 months — we’re now looking to the future and providing SMEs with the working capital to seize new opportunities, accelerate their business growth or simply get through a period of difficulty and rebuild a successful company.”