Reward Funding launches Strategic Asset Finance proposition

Reward Funding has launched Reward Strategic Asset Finance, expanding its asset finance proposition as it responds to changing funding requirements among UK SMEs.

The launch follows three years of development within Reward’s asset finance division, during which the lender has more than doubled the size of its specialist asset finance team.

The new proposition will focus on structured asset-backed funding, including asset refinance, with the aim of helping businesses release working capital, restructure existing borrowing and unlock value held in business assets.

Reward said the launch comes as SMEs increasingly contend with more complex borrowing structures, including unsecured lending. Research cited by the lender suggests UK SMEs are repaying debt at a rate 20 times higher than before the pandemic.

Reward Strategic Asset Finance will be available through brokers and is intended to consider a business’s existing borrowing, assets and future funding requirements when structuring facilities.

Nick Smith, CEO of Reward Funding, 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.

“We believe structured thinking and commercial judgement are two of the most important ingredients in helping businesses build a stronger financial future. Businesses don’t need another loan, they need the right financial structure in place to support sustainable growth.”

Robert Still, Managing Director of Reward Asset Finance, said the lender would assess the wider circumstances of each business rather than begin with a predetermined funding product.

He added: “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.

“By taking the whole business view, we’re able to unlock value that is already sitting there, helping to give the client more flexibility and a stronger platform for future growth.”

The launch represents a new growth area for Reward Funding and broadens its existing asset finance offering for brokers and SMEs.