Newable Business Finance extends product range
Newable Business Finance (NBF) has announced the launch of two new lending products designed to support businesses.
NBF will now offer secured loans of between £26,000 – £150,000 and cashflow loans of up to £25,000.
The products join NBF’s unsecured loan product for between £26,000 – £150,000 which has attracted more than £300m of applications since its launched in 2017.
Phil Reynolds, managing director at Newable Lending, said: “it is a harsh reality that SMEs find accessing growth finance a real challenge and getting paid on time remains predictably unpredictable.
“Our mission is to help businesses to thrive. That’s why we’re keen to support these businesses in every way possible.”
The product launch comes at a time when businesses appear to be more optimistic about their prospects.
The latest ICAEW Business Confidence Monitor (BCM) shows business confidence returning to positive territory (+1.3%) in the first quarter of 2020, after being at its lowest level for a decade at the end of 2019 (-20.6%).
Chris Oram, broker development manager at Newable Business Finance, added: “The introducer community plays a vital and unsung role in helping SMEs access funding. We are delighted to increase the support we offer to them and their clients.”