In its first year of operation in Scotland, Reward Finance Group has supplied £8.3m in funding to small and medium-sized businesses.
The company has supported firms across multiple sectors and plans to expand its team and broker network in the coming year.
Reward attributes its quick success to efficient service, flexible lending options, and growing confidence among SMEs.
The firm’s growth in Scotland is led by Brian Machray, an industry veteran who joined Reward a year ago.
Among the funded companies are Moda Ceramics, which received £150,000 for business expansion, and UK Rubber, which secured £350,000 to improve operations and revenue.
Machray, Reward’s business development director for Scotland, said: “The first 12 months of establishing any business in a new market can be extremely challenging, so to go on such a rapid growth trajectory has been a superb achievement.
“Our success across Scotland is largely down to the speed, simplification and transparency of lending and going the extra mile for clients to provide a truly tailored funding solution. I’m immensely proud of the continued hard work and expertise within the team here and being able to fund the ambitions of so many SMEs across the country.”
Smith, group managing director for Reward, added: “It’s fair to say that our first 12 months of trading in Scotland has completely exceeded our expectations.
“£8.3m is a significant sum to inject into the Scottish economy in just 12 months and we’re now looking to the future, growing the team here further and providing more working capital to help SMEs seize new opportunities, accelerate their business growth or simply get through a brief period of difficulty.”
