Independent commercial finance broker on Merseyside announces results.

Wirral-based Business Assistance (North West) Ltd, which specialises in providing customised commercial finance solutions, revealed its results as it learnt it had been accredited by the National Association of Commercial Finance Brokers.

The company was founded in 1983 as a business consultancy and took the decision some 12 months ago to focus on its finance broking operations following substantial growth in the number of companies seeking independent advice on business finance.

Steve Barber, an MBA-qualified former management consultant with venture capital experience, said funding packages sourced by the company ranged from £14,000 to £4.8million, the latter to help fund a major Merseyside property development in the leisure sector.

Much of the company’s work has been in the property sector. It has also sourced funding for asset acquisition and equipment leasing, as well as organising cash flow finance facilities, bridging finance and commercial mortgages.

More than 50 funding packages have been arranged by Mr Barber’s team over the last year, the majority on Merseyside but some involving projects elsewhere in the UK.

Mr Barber operates from the company’s offices in Wallasey Road, Wallasey, close to where he lives and where he grew up. He said his company’s success was a reflection of the strength of the team around him and of the health of the Merseyside economy and, in particular, the SME sector.

Mr Barber added: “We act as a one-stop shop for SME company directors and entrepreneurs. Because we are independent and have an increasing volume of cases, we can source and negotiate the most appropriate funding.

“We also have expertise at moving very swiftly to secure finance for companies when time is crucial. We had a case, for instance, where it was necessary to source a bridging loan for £50,000 in just 48 hours.

“We have access to a range of over 100 lenders from whom we can obtain competitive arrangements and the required experienced to organise complex funding deals through the merchant banks and private lending outlets.”

In the U.S.A., some 70% of all commercial borrowing is arranged through independent brokerages, whereas in the UK, the majority of commercial borrowing is transacted directly with the clearing banks.

Mr Barber thinks the UK trend is changing: “There are some clear advantages in solicitors, accountants, company finance directors, etc., utilising the services of an independent broker because of the experience and knowledge and the ability to negotiate the type of deal which will be best suited to the client.”

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