Reward backs £900k petrol station revival in broker debut deal

Reward Funding has provided a £900,000 funding facility to support the acquisition and redevelopment of a dormant petrol station, marking its first completed deal with broker Sterling Financial Planning.

The funding has been extended to Linthouse Service Station to enable the purchase of a non-trading forecourt and its transformation into a fully operational site, an area often considered high risk by traditional high street lenders.

*Left to right: Anthony Cope, John Pulahi, Danny Ahmed, and Carl Perry*

Structured to meet tight transaction timelines, the facility reflects Reward’s willingness to support deals based on future potential rather than historic financial performance. Despite the borrower’s strong track record, having successfully delivered two similar forecourt projects within the past year, mainstream lenders declined to back the deal due to its reliance on projected revenues.

Reward instead took a forward-looking approach, recognising the site’s long-term trading potential and the experience of its operator.

The funding will cover both the acquisition and a full redevelopment of the site. Plans include the installation of new fuel tanks, a redesigned forecourt apron and canopy, and a significantly expanded retail shop that will be more than double its previous size.

Danny Ahmed, director of Linthouse Service Station, said the lender’s approach was instrumental in bringing the project to life.

“Reward backed our vision when others paused. They moved fast, asked smart questions and supported us based on what we’ve built and where we’re going. We’re excited to see where the future will take us.”

John Pulahi, managing director of Sterling Financial Planning, described the deal as a strong start to the partnership with Reward Funding.

“This was a great first deal to secure with the Reward team. Their decisiveness, flexibility and understanding of ambition were second to none,” he said.

“It marks the start of what I am confident will be a strong and productive relationship, made possible by Reward’s genuine appetite for lending and their pragmatic view of risk.”

Carl Perry, business development director at Reward Funding, said the transaction required both trust and agility, noting that it involved looking beyond conventional lending criteria.

“Timing and trust were critical to this transaction, and it required a lender willing to look beyond rigid criteria and tick boxes. It also marks the first of what we expect to be many deals with Sterling Financial Planning, a partner that, like us, sees the opportunity beyond the obvious,” he said.

“This is exactly the type of opportunity where our approach to lending can add real value for entrepreneurs wanting to grow their business.”