Shawbrook Bank has recently supported Newable Business Finance through an increase and refinancing of their existing senior funding arrangements by the Bank’s specialist Wholesale Finance team. The funding from Shawbrook will support the continued impressive growth of the business and its loan book and will allow the business to continue to scale and evolve.
The wider Newable group was founded over 35 years ago and has a long history of providing professional financial services in the start-up, SME and Mid-Market space, helping over 20,000 companies a year. In tandem with the senior debt refinancing the Newable Group completed the full acquisition of Newable Business Finance from its Joint-Venture with Liberis. Newable Business Finance will continue to focus on providing debt finance to UK SMEs from £26k to £150k for up to 5 years while also continuing to promote the responsible finance agenda, providing all customers with one-to-one access to a trained small business mentor. The Specialist Wholesale team at Shawbrook are delighted to have been able to support Newable and have structured a bespoke facility that neatly fits with both the growth strategy and objectives of the business.
Philip Reynolds, Managing Director at Newable Business Finance, says:
“To date, our high-tech, high-touch offering which delivers both finance and business mentoring support to UK SMEs has been very well received and securing further debt funding will enable us to support many more UK SMEs going forward. I’m excited to continue building the business as an integrated part of the broader Newable offering.”
Ismail Farhat, Structured Finance Director at Shawbrook Bank, says:
“The team at Newable has developed a great proposition, which we're very happy to support. Specialists in providing small business finance, Newable also recognises that mentoring support is also a considerable driver of business success and sustainable growth. This additional service they offer helps them stand apart as an innovative and responsible funder of UK SMEs, which at Shawbrook we recognise and value.”