34 asset-based lending
Centric Commercial Finance – a growing presence in the Thames Valley region
So far, 2012 has been an exciting year for Centric Commercial Finance writes David Ashton and Maxine Hennessy who comprise the Thames Valley and Reading team of Centric
We have seen a record number of deals and, after a busy summer period, we are expecting the fourth quarter to be equally active. Despite a challenging and fragile economic environment, many SMEs are anticipating an expansion of their activities over the coming year and, though the funding market – at large – has yet to return to pre-crisis levels, we are fully committed to driving economic growth through lending to businesses.
Centric Commercial Finance started up in the midst of the global economic crisis and it soon became clear to us that the lending market would not return to normality in the short-to-medium term. Five years on and we still read that high street banks are stepping up their commitment to SME lending, but our own observation is that there continues to be a significant funding gap. The result has been a shift in the lending paradigm and businesses have had to re-examine their sources of finance in a much changed, post recessionary landscape.
Recessions often prove to be favourable to providers of alternative forms of finance. In a highly competitive market, we have taken much pride in our ability to outperform our competitors. Half way through this year, we published a report examining our financial performance – our sales volume had increased by 56% in one year. The reasons behind this are simple – exceptional customer service, industry expertise, efficient delivery of that service and we constantly seek out new opportunities.
Customer service is our priority. We understand that a main concern for businesses needing to access working capital is often speed of delivery. Our business is structured so that we can address this requirement, while maintaining a tailored approach. Centric’s team is made up of senior level industry experts who, unlike many of our competitors, are capable of rapidly making lending decisions. They then take time to understand a client’s business before developing and delivering bespoke packages. Our executive board and specialist underwriting teams work closely at every step and are on hand to turn proposals into deals within days.
Centric works with clients to finance a range of activities, including management buyouts, management buy-ins, mergers, acquisitions, as well as straight forward refinancing. At Centric, we take a holistic approach and, rather than lend to businesses based on their historical data, we make our decisions on a company’s potential. We provide invoice discounting and asset-based loans which can be secured against current and fixed assets, such as debtors, stock, plant &
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machinery, real estate land & buildings. We are also one of the few lenders to offer the additional benefit of cashflow loans.
The Thames Valley is home to some of the most innovative SMEs in the UK, and indeed Europe, and we are keen to expand our presence in the region. Centric has six offices around the UK, giving us complete coverage of the country.
There will undoubtedly continue to be uncertainty around the macroeconomic environment in 2013 and beyond. We believe that now is a crucial time for SMEs. They form the backbone of the British economy and contribute hugely to UK employment. Many SMEs in the region have very strong track records and could prosper with the right financial partner. If your business needs extra working capital, get in touch with Centric today.
Biographies
David Ashton Director business development
Hennessy has been working in the southern region for the past 25 years. She has wide ranging experience, which includes 13 years in banking and a further 12 years in asset-based lending.
She has worked on a numerous transactions involving refinancing, restructuring, MBO’s, MBI’s, and more. But in particular, she has specialised in delivering funding solutions where traditional receivable finance is not thought appropriate or possible.
Career High: Joining Centric Commercial Finance and delivering deals others cannot deliver.
Particular Expertise: Hennessy is a transactional asset-based lending specialist who thinks outside the box to quickly deliver credit-backed solutions for clients.
Personal Interests: Family time is most important to Hennessy. With two young children, her free time revolves around supporting her daughter at a local athletics club to her son’s fascination in the Foo Fighters and Dr Who.
Ashton has been working in the South West and Central South regions for the past 24 years. He brings more than 20 years’ experience in corporate banking and a further 17 years in asset- based lending.
He has worked on a significant number of transactions involving refinancing, restructuring, funding growth, turnarounds, MBOs & MBIs, mergers & acquisitions, exits for private equity & retirements.
Career High: Launching Centric Commercial Finance in the South West.
Particular Expertise: Ashton is a transactional THE BUSINESS MAGAZINE – THAMES VALLEY – NOVEMBER 2012
Details:
David.Ashton@
centriccf.com 07738-887909
Maxine.Hennessy@centriccf.com 07740-699138
asset-based lending specialist and is able to deliver solutions quickly with a well structured facility for businesses with a turnover between £1 million - £100m.
Personal Interests: He enjoys spending time with his family. He is fond of all types of sports and closely follows the fortunes of Manchester City FC and Chelsea FC. He also takes a keen interest in the economic fortunes of UK plc and the eurozone.
Maxine Hennessy Director business development
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