Webb has over 25 years industry experience while Pelley, who also worked at Central Trust, has worked in the industry for 20 years
Webb said: “It felt now was a good time to return to the finance industry. I have been speaking to Andy over the last couple of years considering when would be a good time to start a business.
“We met with David Johnson a couple of months ago and he was so enthusiastic about both the industry and us coming back into the market.
“After that meeting and having listened to a couple of other trusted people we’ve decided now is the time to get things going.”
Pelley added: “When John approached me about setting up in partnership with him it instantly felt the right thing to do. We are both excited about the future and the opportunities in the market at the moment.
“We have a clear vision of where we want the business to go and we will do everything possible to make it happen.”
Simon Stern, director at Prestige Finance, said: “I am delighted that Andy and John have again decided to come back into the secured loan market especially as the market appears to be again growing.
“Both of them have considerable experience and know-how and I have no doubt they will make a great success of their new venture.”
And Marc Goldberg, commercial director at Blemain Group, added: “It’s fantastic to see John and Andy coming back in to the secured loan market.
“We’ve worked with them many times over the years and their enthusiasm, experience and commitment will give them a distinct advantage in a growing marketplace.
“They have specialist knowledge of the industry and their professionalism will allow them to go from strength to strength in an expanding and buoyant sector.”