A new collaboration of Midlands funders will be launched at a free expo next month with the aim of raising awareness of the range of finance options available to local small to medium-sized enterprises.
Midlands SME Finance is organised by six leading West Midlands finance providers who lend money to businesses unable to get finance from high street banks and loan companies.
To celebrate the launch and update interested SMEs and professional services introducers about the offering, a free expo will be held at Edgbaston Stadium in Birmingham on May 20.
Community development financial institutions ART Business Loans, BCRS Business Loans and Coventry & Warwickshire Reinvestment Trust are working with invoice finance lender FlexABL and community-based lenders Frontier Development Capital and UKSE to deliver the event to explain the finance services on offer locally.
Finance opportunities available for businesses unable to access the funds they need from traditional sources will be showcased at the Midlands SME Finance event. The expo will take place at Edgbaston Stadium from 11.30am to 1.30pm to bring delegates including local businesses and professional services introducers up to speed on the latest market developments.
As well as networking opportunities, the event will include a presentation by a keynote speaker. Delegates can sign up online now to register to attend the free event, which includes lunch.
The Bank of England reports that SMEs account for 60% of the total employment and 50% of the turnover of the UK private sector but relative to large businesses, they tend to have more limited access to finance.
All six finance providers provide debt finance and support to businesses through a relationship-based approach, with many focussing upon supporting economic growth in disadvantaged areas.
Paul Stokes, of FlexABL, said: “We all want to help businesses as they face the challenging economic environment as we have shared approaches around understanding businesses looking for finance, so coming together as Midlands SME Finance seems the perfect way to showcase the opportunities available to business owners and a network of professionals.”
Steve Walker, CEO of ART Business Loans, said: “The time has never been better for the six partners to work together to present the many options out there for lending under the banner of Midlands SME Finance as we are meeting the market need in greater ways than ever.”
Stephen Deakin, chief executive of Wolverhampton-based BCRS Business Loans, said: “We are working together to provide accessible finance to SMEs unable to get the help they need from high street banks and loan companies, supporting economic growth in disadvantaged areas.”
Sheridan Sulskis, CEO of Coventry & Warwickshire Reinvestment Trust, said: “We know from the local market that there are businesses out there who want to access finance for growth plans, job creation or to stabilise so we aim to show the range of help at this free event.”
Andy Green, deputy fund principal at Frontier Development Capital, said: “Debt funding is essential for driving growth and expanding a business, yet it often remains a complex area for many, so we are designing the event to give maximum insights to everyone who attends.”
Steve Grice, area manager Midlands for UKSE, said: “We all feel passionately about the value which responsible lending can bring so although it is a new area for some, we know that when we see companies grow and people prosper, the impact we make is clear so we look forward to sharing our knowledge at Midlands SME Finance.”
To register, go to: https://www.eventbrite.co.uk/e/midlands-sme-finance-networking-event-tickets-1312826372019?aff=oddtdtcreator
