SPF Private Clients (SPF) is launching a Business Finance division to assist small and medium-sized enterprise (SME) owners access competitive funding solutions.

Craig Ashton and Tom Naidu will draw upon their backgrounds in business finance and commercial lending to offer the full range of business finance solutions to existing clients of SPF and parent company Howden, as well as those from further afield.

With 890,684 company incorporations in the year ending 31 March 2024 – an 11.2% increase on the previous year, according to Companies House – demand for business finance is growing significantly.

STRONG RELATIONSHIPS

Working with a robust panel of lenders, Ashton and Naidu are confident their strong relationships with business finance providers will enable SPF to find the best solutions for SMEs.

Craig Ashton, commercial consultant at SPF, said: “In this tough economic environment, particularly for certain sectors such as the hospitality industry still recovering post-pandemic, the need for the right business finance is more acute than ever.

“Many bosses of SMEs simply aren’t aware of the range of options available – from straightforward products from traditional lenders to more specialist products and providers. We look forward to working with them to find the right funding for their business.”

FILLING A GAP

Russell Hall, executive director of SPF Private Clients, adds: “By offering business finance solutions, SPF is filling a gap in the market.

“We were finding that clients taking out a residential, buy-to-let or commercial mortgage often had a limited company and were asking for some sort of asset finance or business loans.

In the past, we haven’t been able to help but now we have a strong offering for existing clients, as well as for brokers and other introducers who perhaps don’t fully understand the nuances of this market and have a client they need to refer.”