A South Yorkshire-based alternative lending providing has signed a deal to move into a new headquarters after hitting the £50m lending landmark.
Finance For Enterprise has completed the freehold purchase of the 5,000sqft Oaks House in Doncaster and now plans to further expand its operations.
Over the past five years alone, funds provided by Finance For Enterprise have helped to boost the regional economy by more than £140m, enabling businesses to create more than 1,400 new jobs as well as safeguarding an additional 1,800 roles.
Its new HQ is split over two floors was previously home to Yorkshire Bank’s business banking hub in South Yorkshire, and will see the company relocate from Doncaster Business Innovation Centre.
Finance For Enterprise will occupy the first floor of the new premises, whilst the ground floor will be made available to lease.
Andrew Austwick, Managing Director of Finance for Enterprise, said: “2020 is a significant year for our organisation. We’re not only celebrating our 35th anniversary but we have also reached the significant milestone of delivering more than £50m of lending to support SME businesses throughout the region.
“Relocating to new premises will provide us with the additional capacity to help more businesses to succeed and grow, whilst crucially providing a platform to extend the range of services we currently provide to the business community.
“As part of these plans we’re adding new members of staff to our workforce and continuing to reach out and assist businesses which have been overlooked by traditional high street lenders.
“In recent years growing numbers of SME businesses have faced difficulties when it comes to securing lending from traditional high street lenders.
“Relocating to new, larger premises will help us to continue to invest in the local and regional economy and help businesses which have been typically overlooked by traditional lenders to access the vital funds needed to realise their growth ambitions.”
Responsible for helping SME businesses to access the vital funds needed to underpin growth, Finance For Enterprise acts as a delivery partner for the Northern Powerhouse Investment Fund, Start Up Loans UK and recently secured an additional £15m of funding through a collaboration with Big Society Capital and Europe’s leading sustainable bank Triodos.
Over the last five years alone, it has provided £50m of loans; this has included £27m to around 600 established businesses and £10m to 550 new-start businesses.