15.8 C
Manchester
Saturday, April 26, 2025
BlogForesight backed Reward Finance Group achieves landmark £200 million lending milestone

Foresight backed Reward Finance Group achieves landmark £200 million lending milestone

Alternative finance provider, Reward Finance Group (“Reward”), has passed the £200 million loan book milestone. 

 

The news comes just over a year after Reward received a £50m increase in its credit line from regional growth company investor, Foresight Group (“Foresight”). This increase brought the total capital committed to Reward, by Foresight, to £130 million – the largest credit facility the Foresight Private Credit team has agreed to date.  

 

In its twelfth year of continuous growth, Reward is now in the process of doubling the size of its business, facilitated by its ambitious regional expansion programme and the launch of new funding products. 

 

With a presence in Leeds, Manchester, Birmingham, London, Edinburgh and Cardiff, Reward lends up to £5 million across every sector, from start-ups to established businesses across England, Wales and Scotland. 

 

The £200 million lending milestone has been a major boost to the local economies in which Reward’s offices are located. Since its inception in 2011, Reward has supported over 2,000 businesses across the UK by providing over £1 billion of working capital. This has resulted in a positive impact in the local areas where these businesses operate; driving increased revenue, creating high-quality jobs, enabling innovation and providing the support for companies navigating difficult trading periods. 

 

Nick Smith, Managing Director at Reward, said: “Achieving such an exceptional lending milestone underlines the ongoing hard work and expertise within our team across our six regional offices. It’s also testament to the terrific relationships we’ve forged with our extensive network of SMEs, commercial finance brokers and other introducers.” 

 

Amy Crofton, Director at Foresight Group, added: “Reward has developed a niche in combining responsible lending with a pragmatic and flexible approach, acting quickly to deliver finance to companies when required. It has been a privilege to have supported such a dynamic company on its journey to date, and it is a source of pride to see the positive impact that Reward has had on local economies. We look forward to seeing what is next for the Reward team.” 

Latest

Vehicle crime in Greater Manchester down 27 per cent, reports show

Vehicle-related crime across Greater Manchester has seen a reduction of 27 per cent, according to new figures. During September 2023 and March 2024, Greater Manchester...

Advance train tickets now available on TransPennine Express machines

Advance train tickets are now available for customers to buy using TransPennine Express (TPE) ticket machines. Advance train tickets are single, one-way tickets purchased in advance...

Planning pressures pushing firms to the brink, property expert warns

Planning pressures set UK developers up for failure, pushing more firms to the brink, Landwood warns. UK developers are abandoning unfinished projects as cashflow pressures...

DVLA bans more than 500 new number plates

A Freedom of Information request made by private plate supplier Regtransfers reveals the banned number plates from the forthcoming  ‘75’ release. These latest plates will...
Subscribe to our newsletter
Business Manchester will use the information you provide on this form to be in touch with you and to provide updates and marketing.
Don't miss

DVLA bans more than 500 new number plates

A Freedom of Information request made by private plate supplier Regtransfers reveals the banned number plates from the forthcoming  ‘75’ release. These latest plates will...

Police appeal following serious assault in Bramhall

Detectives are seeking the public’s help with enquires after a serious assault took place in a bar in Stockport. Sometime around 12.40am on April 19,...

New public square unveiled in Gorton town centre

A new public square is now formally open, providing a new heart and focal point for the Gorton neighbourhood, while supporting the ongoing success...

FREESMO Rallies to Support Ex-Smokers Ahead of the Disposable Vape Ban with Golden Ticket Campaign

As the UK prepares for the nationwide ban on disposable vapes coming into force on 1st June 2025, FREESMO is stepping up to support...

More News

St George’s Day parade returns to Manchester

The St George's Day Parade, a beloved fixture in Manchester's event calendar for nearly two decades, returns on April 27 with its vibrant celebration...

Manchester prepares to mark VE Day

Celebrations to commemorate the 80th anniversary of VE Day are set to take place throughout Manchester. On May 8, 80 years will have passed since...

Manchester launches vision for new national hub for hydrogen

Manchester is placing itself in prime position to become the home of a new national facility that will be central to the UK’s ambition...