Creative Capital, a Runcorn-based provider of short-term funding to SMEs, has agreed a new multimillion-pound deal with Conister Bank.
The £3.5m facility will enable the alternative finance lender to meet demand from small businesses looking to fund growth opportunities on a transaction-by-transaction basis.
It provides rapid access to selective invoice finance, trade finance and stock finance facilities for a diverse range of SMEs including importers, wholesalers, manufacturers and those in construction.
Launched in 2010, the business was established in response to the retrenchment of traditional high street finance providers, which had dramatically reduced lending to SMEs following the financial crisis and subsequent recession.
To date, Creative Capital has provided more than £100 of funding to in excess of 250 businesses looking to exploit new growth opportunities, such as contract wins, large orders, international deals or seasonal spikes.
Max Ward and Paul Billingham, of Warrington-based Knight Debt Advisory, were principal advisors on the deal.