the finance and funding directory 201415

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is fourth edition published in Great Britain in 2014 by Harriman House.

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WELCOME to the fourth edition of the Finance and Funding Directory.

Following last year’s very successful edition which saw us sign up with HarrimanHouse – the leading independent UK publisher of business, trading, investing andeconomics books – we saw, for the first time, our Directory sold and distributedthrough the likes of Amazon, Kindle, iBooks, and many other well-known outlets,both online and in printed format. As a result, the FFD has been sold and downloadedto an audience of over 10,000 and we are truly delighted with the results.

We have decided this year however to greatly extend the distribution of the Directoryby offering a completely free download of the FFD in its entirety – predominantly forthe use of the professional community. Anyone can access the free download via thefollowing link: http://www.financeandfundingdirectory.co.uk and this will take youto the website which simply requires that you log in with your contact details and youwill receive the full Directory, completely free of charge.

For those that prefer a hard copy format (which I do), the price is £19.99 and you canorder either through our website or online with the usual suspects such as Amazon,etc.

Our target this year is to distribute in excess of 50,000 copies, which in turn will makeus the leading directory and definitive source of information in the Finance andFunding market sector.

We hope you enjoy this latest edition, and that it provides you with all the informationthat you will need for sourcing and comparing your financial options.

My kindest regards to you all

Jonathan WoollerEditor

http://www.financeandfundingdirectory.co.uk

Hoskyn Child International continues to be one of the foremost providers of specialist funding throughout the UK and Europe.

Past deals have included solutions to the following diverse client requirements and we hope to continue to source and implement equity and debt facilities for both introducers and clients alike:

Past Deals:• Financial restructure and refunding of one of the foremost established

European logistics companies with a turnover in excess of £200m• £25m line of finance for a Guernsey based fine wine fund• Placing of an £8m asset based lending facility for an established UK

based plastic extrusion manufacturing plant• Arranging of a trading platform and account facilities for a Guernsey based SPV

with an anticipated individual trading placement of $60m• Assistance with an equity and debt solution for an established water and gas

valve manufacturer via an $8m JV and a £6m equity and debt funding line

If you are looking for solutions to the more exacting and complicated finance or funding deals, please contact our team at Hoskyn Child International on:Tel 01322 424 594 Email [email protected]

www.hoskynchild.co.uk

Tel 01322 424 594 Email [email protected]

Hoskyn Child International is a trading name of Hoskyn Child Consulting LLP

If you are looking for solutions to the more exacting and complicated finance orfunding deals, please contact our team at Hoskyn Child International on:

http://www.hoskynchild.co.uk


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Contents

An Introduction to the FFD 2014/15 by William Tebbit, Commercial Director at Trade Finance Partners Ltd vii

Using this Directory xi

Asset Based Lending (ABL), Factoring and Invoice Discounting 1IGF – Far from being the lending of last resort, invoice finance is powering the UK recovery 3

An Introduction to Asset Based Lending, Factoring and Invoice Discounting 9Asset Based Lending (ABL), Factoring and Invoice Discounting Directory 15

Leasing and Asset Finance 19An Introduction to Leasing and Asset Finance 21Leasing and Asset Finance Directory 23

Commercial and Corporate Finance 27An Introduction to Commercial and Corporate Finance 29Commercial and Corporate Finance Directory 31

Banking Finance 35Tollers – Anatomy of a Finance Transaction – the role of the finance lawyer 37An Introduction to Banking Finance 45Banking Finance Directory 49

Property Finance 59An Introduction to Property Finance 61Property Finance Directory 63

Trade Finance 67Trade Finance – An Overview and Introduction 69An Introduction to Trade Finance 75Trade Finance Directory 77

Bridging Finance 79An Introduction to Bridging Finance 81Bridging Finance Directory 83

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The Finance and Funding Directory 2014/15

Equity Funding 87Alternative Financing for Growing Businesses 89Leumi ABL – An Introduction to Equity Funding 95Equity Funding Directory 97

Crowd Funding and Business Angels 107An Introduction to Business Angels, Crowdfunding and P2P Lending 109Crowd Funding and Business Angels Directory 113

Mezzanine Finance 119An Introduction to Mezzanine Finance 121Mezzanine Finance Directory 123

Turnaround Funding 125N&T Consultants Ltd – Turnaround Funding for Restructuring a Business 127An Introduction to Turnaround Funding 133Turnaround Funding Directory 135

Support Organisations 137Geoffrey Martin & Co – Using a restructuring specialist to turn threats into opportunities 139

An Introduction to Support Organisations 145Support Organisations Directory 147

Associations and Professional Bodies 151Associations and Professional Bodies Directory 153

Directory 157A-Z listing of Finance and Funding Sources for 2014/15 159

An Introduction to the FFD 2014/15

By William Tebbit, Commercial Director, Trade Finance Partners Ltd, the UK’s leading IndependentTrade Finance House.

Welcome to the fourth edition of FFD, which we believebuilds on the success of the previous editions, and isbrought up to date for current issues and market offerings.

This Directory takes an overview of the whole funding market; it provides details ofthe various options available enabling the reader to understand and contact the myriadsolution providers. Used wisely you will greatly enhance your ability to select the mostappropriate solution for your needs.

We attempt to highlight some of the recent issues in the regulatory arena and howthose initiatives will impact on the funders’ ability to provide finance and theconcomitant effect on pricing. In particular the effect of Basel III, Capital II, the EUBanking Directive and the UK banking initiative should be considered. The decisionof various countries, in particular the USA and China, not to accede to therequirements of Basel III will bring some interesting questions on competitive pricing,especially if the EU based institutions cannot compete on a level playing field, giventhe implicit higher cost of capital Basel III compliant rules causes. Some industrypractitioners believe that compliance with Basel III and the UK banking directivecould add 3% to 4% per annum to the base cost of borrowing.

It has been said there are not really any new banking products, simply refinements oflong established, tried and tested solutions from the past; this is a view that I share.Products that have been tested and fully adopted by the regulator and the accountingprofession should give the user comfort.

There has been a contraction of the finance sector since 2007. Much of the contractionhas occurred in lending to SMEs, which according to the National Association ofCommercial Finance Brokers saw a 65% reduction in lending following the bankingcrisis. At the peak of the market their members were introducing £19.3bn each year,

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but the value in 2011/12 was only £8.6bn. The reduction is not as obvious as wouldappear from the high street lenders. Much of the lost capacity was from theindependent institutions in the invoice discounting and leasing sectors. Theseprovided significant additional working capital to SMEs over and above their overdraftfacility with their core bank. This capacity was lost principally due to the main lenderscutting their lines to the independents, resulting in funds not being available to thesmaller borrowers.

There has been much dissatisfaction voiced in the press from the journalists andfrom borrowers. Much of this is misplaced and shows a misunderstanding of theissues the lending community faces. The banks have arduous internal processes tolaunch a product and these are not always flexible, this is not always a bad thing.Discipline in lending is an important criterion for ensuring the loan is repaid andpoor lending decisions avoided. The banks were justly criticised for the bad loansmade resulting in the banking crash, and a return to that crazy ‘just get the moneyout’ approach would not be good for the economy. It would not be fair to slate thebanks for trying to fit a borrower’s need into an existing product (they can only dowhat they are authorised to do) but taking that option should only be done with bothparties understanding the product being selected and the advantages and shortfallsof using it.

In many cases borrowers are reluctant to seek increased facilities. There is a fear, withsome justification, that if they ask for an increase it will bring attention to them andthe result will be a reduction not an increase. For this reason, many businesses preferto finance growth out of their own working capital rather than seek further supportfrom their traditional funders. Typically SMEs are less able to fund growth frominternally generated cash. This does not bode well for any recovery, if growth is beinghampered by perceived lack of capital. It should be recognised that businesses seekingfinance must understand what can and can’t be provided by the solution provider. Toavoid disappointment don’t ask somebody for something they can’t provide.

Another impact on the banks has been the various high profile losses resulting inbalance sheet contraction. The unforeseen impact of this was the reduction in thebanks’ capacity to lend, driven by the Basel II lending criteria. In effect, a bank canlend approximately 11 times its capital, i.e. each £1 means it can lend £12 usingdepositors’ funds and loans from other institutions. If it takes a £1bn hit, its ability tolend is reduced by £12bn. This makes the fines being imposed by regulators of fargreater impact than apparent at first glance.

One area that might make sense for the banks to address is the internal allocationissue surrounding whose internal balance sheet and profit and loss account atransaction falls under. This is particularly important where the bank has part of thetransaction with its Invoice Discounting arm, and part of the transaction with its core

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An Introduction to the FFD 2014/15

bank, for example where it is providing stock finance facilities. This conflict oftenresults in no loan being made for what is otherwise good business, when in reality thewhole lend was always on the bank’s parent balance sheet.

The well-publicised fines levied on various banks have been and continue to be widelyreported. Whatever the rights and wrongs of this, what is essential for business is thatrobust banking and providers of finance exist.

In an increasingly complex and regulated world it should come as no great surprisethat fines are levied and that businesses are called to book. We must adopt a positiveattitude and hope that this is improving the operations of banks and other financialinstitutions rather than anything else.

There are bespoke solutions available for borrowers, but these tend to come from thesmaller independent providers. What is needed is for the mainstream players toprovide similar solutions as the big banks have the ability to deploy large quantitiesof money quickly. Many of the high street banks will work with the independents toprovide the right solution complimenting the client’s existing facility. Workingtogether to agree a workable inter-creditor agreement, waiver and priorityarrangement can only mean a better funded client who has the resources to fund itsgrowth. A better funded borrower is a better credit risk.

A lack of working capital is resulting in business being lost and a slower economicrecovery. Many businesses have the orders but do not have the necessary cash to fundthem. For example, one steel mesh supplier based in Northern Ireland had difficultyfunding its growth. It has a full order book but due to the modalities of the steelindustry requiring guaranteed payment (LC, credit insurance or cash in advance) thecompany was unable to source the product to fulfil the orders as it had insufficientworking capital. A true trade finance provider was able to provide letters of credit andpurchase facilities with the security of the client’s end customer orders, whicheffectively means the client has sufficient working capital to double its turnover.

Finally, it is worth addressing pricing. There is much evidence that the big playershave been driving down margins as they have a low cost of capital which they need todeploy, in part provided at very cheap rates by government. Whilst I am not one todecry a good deal for the borrower, one must wonder if lending at these very low ratesis not imprudent. Does the cost actually reflect the risk? Low margins mean low profit.Low profit means no reserves when the inevitable losses occur. Are we not headingfor just making the same mistakes again? The borrowers normally want a solution,price is secondary. A couple of extra pounds per month may provide the funder withthe right return but not be an issue for the borrower. Everyone wins. But losses withno reserves to cover them means the knee jerk reaction of no more lending is backagain. And no one needs that! Maybe funders should look at pricing to risk again, not

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just a blanket price for every customer. The art of assessing risk is essential if you wishto price risk correctly.

It must be stressed that this is NOT a doom and gloom scenario! There is goodbusiness out there needing funding and the banks and other finance houses arelooking to lend. Borrowers have assets that are good security to lend against, providedthe institutions have the product which can use that asset class. What is needed isbetter communication to enable willing lender and willing borrower to get together.This is an exciting time for business faced with funding returning growth. In acomplicated world accessing appropriate finance is not a straightforward task. Thevalue of this edition of the Finance and Funding Directory is that a route map isprovided to help guide you to the right source of finance.

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Using this DirectoryThis Directory has been designed to provide the reader with the latest up-to-datefinancial sources of information available in the UK today. The Directory is laid outand divided into various category listings which will enable you to mix and matchbetween the sections and options available. It should help you to obtain the bestpossible solutions for your company or for your client’s company if you are an advisor:many individuals also use this Directory and find it extremely useful.

For additional ease of use there is a section at the back of the Directory which listsevery company in alphabetical order: by name; address; telephone number; websiteaddress; and in most cases a contact email address.

Each section or chapter has a brief introduction along with a description of theindustry sector and type of finance, funding or support available.

We have been very lucky in being able to persuade some of the leading marketprofessionals, who represent different segments of the finance and funding industry,to provide some very informative in-depth articles which will allow you an insightinto their particular specialist industry, along with some tips and guidelines. We aresure you will find these articles to be both useful and instructive in your quest forfunding.

The key to success in raising funding nowadays is very much about identifying thedifferent areas within your company for which a number of funding options will apply,and then mixing and matching between them all to provide a comprehensive packageand solution specifically designed to meet your company’s or client’s needs.

It can be quite surprising how many businesses and individuals are truly unaware ofthe options available to them, and in a lot of cases areas such as asset-based lending,can provide out-of-the-box/alternative solutions that move beyond the traditionalfinancial and funding offerings.

We would strongly urge the use of support professionals such as consulting firms,accountancy firms, legal practices and insolvency practitioners, when looking at theoptions available.

Insolvency practitioners and legal practices can be particularly useful if a company isfinancially stressed and unable to obtain funding from traditional sources withoutfirst restructuring the business. These organisations can provide valuable advice inputting together the right platform or arrangement, thus enabling other aspects of thefunding options available to be brought into play and meet the needs of the companyas a whole.

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It is often best to write down your financial requirements first, as this will allow youto piece together the different areas or segments of funding that will be included inyour proposal. It is also key to ensure that your financial projections are accurate sothat when making an application, or indeed discussing your proposal in the firstinstance, you are able to provide a clear and concise picture.

We do hope that the information contained within this Directory will provide youwith all of the insight and information you require to make a successful applicationfor funding, and that your research needs are catered for in the initial instance.

Asset Based Lending(ABL), Factoring andInvoice Discounting

Asset Based Lending (ABL): when an organisation lends money toa company against all their assets including property, plantmachinery, stock, or sometimes even their brand name.

Factoring: an agreed percentage of approved debt is paid as soonas invoices are notified.

Invoice Discounting: turns debtors into cash faster, and generatesthe maximum working capital from the sales ledger balance.

Inspired financial support forSMEs through tough times

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IGF – Far from being the lending oflast resort, invoice finance is poweringthe UK recoveryBy Tracy Ewen, managing director, IGF

Thank goodness the downturn is over. It wasn’t a great time for invoice financiers –while the industry saw significant increases from 2009, boosting clients’ supportedturnover to a record £254 billion in 2012, total advances remained below the level atthe start of the crisis, according to the Asset Based Finance Association (ABFA). So,too, did client numbers.

Given the scale of the crisis and extent of withdrawal from lending by the big banks,particularly to SMEs, the expected gains for invoice finance have, in fact, beenrelatively modest. Indeed, it has taken the recovery to usher in the prospect of a newphase of industry growth – demonstrating that, as an industry, we’re strongest whenwe’re funding growing businesses.

The third quarter in 2013 was the strongest yet for asset-based finance clients, andthe industry is expected to support over £270 billion of client turnover for the fullyear. Advances have also pushed past 2008 levels, at above £17 billion in each of thefirst three quarters of 2013 – for the first time ever. As the chief executive of the ABFA,Kate Sharp, put it recently: “The latest figures show that the asset-based financeindustry is playing a central part in the recovery.”

Tackling the challengesThis high level of growth should come as no surprise. We’re funding growth amongSMEs for whom traditional finance remains difficult to access.

The recent growth in invoice finance is in stark contrast to overall net lending, whichfell again at the end of last year, according to the latest figures from the Bank ofEngland. The Public Accounts Committee, meanwhile, has rightly criticised theineffectiveness of the various government initiatives to boost lending. Net lending bybanks in the Funding for Lending scheme has actually dropped since it launched, andthe value of loans backed by the Enterprise Finance Guarantee has fallen each yearsince 2010. The schemes are not reaching SMEs.

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Added to that, late payment continues to be as much of a problem as ever. Accordingto a recent survey by accountancy software specialists Sage, two thirds of businesseshad to wait more than 90 days for an invoice to be settled in the past six months, withSMEs holding £55 billion in unpaid invoices, an average of £11,358 each. Sadly, thePrompt Payments Code has proved as ineffective as government lending schemes inhelping the sector; big companies, the worst offenders when it comes to late payment,simply don’t take it seriously.

These were all problems during the crisis – and invoice finance has the answers. What’sparticularly worrying is that overall debts owed to small businesses grew by more thanhalf in the previous six months, according to the Sage survey. There’s a real risk ofovertrading in the excitement of a nascent recovery, and hitting cashflow problemsas a result.

The fact is that businesses usually don’t fail because they’re not making a profit; theyfail because they run out of cash. Poor cashflow management is among the maincauses of small business failure, according to the Association of Certified CharteredAccountants, and cashflow crises are especially likely to happen in the initial stagesof an upturn.

As orders pick up, businesses’ attempts to meet growing demand can strain cashflow.In their desire to secure the next big order, business leaders can sometimes fail toconsider if they really have the cash to service the increased sales. At best, cash tiedup in unpaid invoices can limit a company’s potential to grow; at worst, it canundermine the business’s viability just when it should be thriving. That is whyinsolvency numbers frequently increase, not decrease, at the start of a recovery.

Ready to grow with youClearly, invoice finance is ideally suited to these market conditions, providingflexibility far greater than traditional overdrafts. Advancing up to 90 per cent of thevalue of invoices as they are issued to customers, the facility, unlike an overdraft, isdirectly linked to current sales, rather than past performance. The finance thereforeautomatically increases with the level of sales, removing the risk of an adverse impacton cash flow from sudden spikes in sales.

In short, it provides funding that grows with the business and offers a range of otherbenefits, too. For example, it tends to improve payment times (particularly withfactoring, which includes a complete sales ledger service). It can also be combinedwith other services such as credit insurance and bad debt protection, so you can sleepat night. And even where it isn’t, invoice finance firms can check customers’ credit

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Asset Based Lending (ABL), Factoring and Invoice Discounting

worthiness, and monitor for adverse signs in key customers to pre-empt any problems.On top of all that, it is also relatively inexpensive.

Whilst the facility will have a notional limit, businesses only actually pay for the moneywhich they drawdown. Plus, there is also no upfront fee with invoice discounting orfactoring, unlike an overdraft that will always charge an arrangement fee, and whichwill have to be paid again when the term of the facility expires.

Most importantly, however, there is the advice that an invoice finance provider canbring to businesses. Unlike elsewhere in the lending sector, the interests of the businessand the invoice finance firm are well aligned. Both benefit from rising sales; theysucceed and flourish together. Invoice financers also have much greater insight intothe business than traditional lenders. It might sound trite to say that firms in thissector truly understand the businesses they lend to, but it’s actually inherent in theoperation of the facility.

A perfect partnershipFactoring services effectively see the finance provider running the sales ledger,providing visibility of every invoice as it is raised. An invoice discounting service,meanwhile, is preconditioned on receiving monthly management accounts, whichmeans that the firm really understands the businesses that it’s lending to.

At IGF, this is true across our entire customer base. We bring experience from otherbusinesses in the same sector, providing an effective sounding board for ideas, a viewon industry trends, and advice to help the business flourish.

This is, in fact, very much the role of the traditional bank manager, but it has beenlong since vacated by the big banking groups. For most SMEs it is no longer possibleto see a personal bank manager to discuss how the business is progressing and workwith this person to adjust the finance. Today, you are lucky to get through to a businesscentre, let alone someone who intimately knows your business.

In any case, businesses are reluctant to approach banks if they have a problem. As theBank of England’s regional agents found during the recession, “fear of re-pricing orwithdrawal of existing facilities continued to discourage many small businesses fromapproaching lenders altogether”. Another survey by Sage last year showed that justtwo per cent of small business owners named banks as their first port of call for advice.

There is little evidence to suggest that this is a market the big banks want to recapturein any case. True, they have always been involved in invoice finance, and their affectionfor it also grew during the crisis – certainly in comparison to overdrafts for small

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businesses, which one senior banker famously likened to “handing a child a loadedgun”.

However, the interest of the big banks in invoice finance is increasingly focused onvery large asset based lending deals at the one end, and highly automated, processdriven small lending at the other. Technology can cut costs, but leaves little room fora hands-on relationship. Instead, smaller customers are run through a technologicalmatrix.

As a result, there is little appetite in the banks for the labour-intensive business ofdeveloping a flexible, tailored finance solution and a trusted relationship with theclient. Instead, it is the independent invoice finance providers that can fill this gap,and where there is perhaps the greatest scope for growth. Certainly, it is where invoicefinance is most useful, and most appropriate. After all, big businesses wanting toborrow £300 million can do so from a wide range of sources. However, the country’s4.8 million SMEs need flexible finance for the day-to-day running of the business,and this option is in much shorter supply.

These companies account for 59 per cent of all private sector employment and nearlyhalf its revenue. They are, as John Longworth, director-general of the BritishChambers of Commerce, recently observed “the backbone of the economy” and thekey to a sustainable recovery – and invoice finance is frequently their best source ofsupport.

Honesty is the only policyFor this type of invoice finance to work, however, there must be openness on the partof the business and a relationship firmly grounded in honesty from the outset. Theflexible approach that invoice finance providers bring to funding should encourageclients to be straightforward.

Invoice finance firms can provide finance for those with County Court judgments oroverdue VAT payments, for example, but if these details are concealed on theapplication for a facility, a good invoice finance provider will soon find out and thebusiness may lose credibility.

Likewise, while banks will automatically deny finance to those with a failed businessin their past, invoice finance takes a more measured approach. Yes, there are thosewho irresponsibly run their businesses into the ground only to start up again with anew company, leaving creditors bereft. However, this side of the crisis, there are alsoplainly those that have failed through little fault of their own. Unlike many other forms

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of lending, invoice finance considers individual cases on their merits, but only if thereis honest, open communication.

In any case, it is futile to approach the relationship in any other way. There is alwaysa temptation on the part of businesses to hide bad news from its lenders. However, itis simply not possible with invoice finance, for the same reason that invoice financeproviders are so well placed to advise and support the business: they are intimatelyengaged in its running.

Invoice finance providers see the day-to-day working of the business. It is a near real-time facility. That is most obvious with factoring, where the provider is responsiblefor both collecting and issuing the invoices, mirroring the sales ledger. But it’s muchthe same for invoice discounting.

An invoice discounting client usually assigns its provider with a bulk of invoices everyweek, with a reconciliation at the end of the month. If the company has arranged toassign £100,000 worth of sales, and only assigns £50,000, it will only be a matter ofweeks before the provider is asking why.

At IGF, discussing problems like these in advance enables us to structure the servicemore effectively. The more we understand the business and its peaks and troughs, themore useful we can be in meeting its cash flow requirements – for example, byallowing overpayments for periods when we can see big orders due further down theline.

The more informed we are about the business, the more effective our advice is, rightfrom the start. Accurate cash flow projections and openness about the business’srequirements from the outset enable us to put together the most appropriate packageand provide the best advice as the relationship continues.

It is important to be clear: we are not accountants, providing bookkeeping and VATreturns at the end of the month. However, the discipline of providing the lender withmonthly management information alone will benefit the business, bringing structureand foresight to its running, as well as improving cash flow. Our active involvementin the business also puts us in an excellent position to provide the reality check mostSMEs need at some point.

It’s particularly important to have this check in place as businesses plan for growth asthe recovery builds. We are there to ask the hard questions – like whether an increasein orders is matched by growing profits or whether the business is over-stretchingitself. We not only provide finance that grows with the business, but also the guidanceto make sure that growth is sustainable.

“Turnover is vanity, profit is sanity”, runs the adage. It’s worth being reminded of it asthe recovery continues, as well as the final part that is often appended: “Cash is king.”

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An Introduction to Asset BasedLending, Factoring and InvoiceDiscounting

Invoice Discounting and Factoring have been around in one form or another sincebiblical times (moneylenders in the Temple) and in the current market both of thesesolutions undoubtedly provide the mainstay of a company’s cash flow requirements.Consequently, this sector has replaced traditional overdraft facilities and become thepreferred method for business financing.

Factoring is by far the most popular solution available, as it not only provides cash,but also – if used correctly – can reduce the overall overhead costs of the financedepartment. Invoice discounting is an alternative way of providing cash with thecompany retaining control of its own finance department and the chasing of debts,which can be preferred as the clients will not be aware that their debt is beingdiscounted.

Factoring – The basicsThere is a wide choice of factoring providers available in the market, ranging fromthe very large traditional funders that are attached to the banking community, throughto the specialist independent factors that can be far more flexible in their approach.

The principal of factoring is quite simple: you raise an invoice to your client forproducts or services provided; and at the same time as you send the invoice to yourclient, you apply to your factoring company to have the invoice discounted, as peryour agreed facility. The factoring company will check that the invoice meets therequirements and the conditions that are set against your facility and will normallydiscount the invoice straight away, passing the money on to you within 24 or 48 hours.

When the invoice becomes due for payment, the factoring company will issue yourclient with a statement and carry out all of the credit control procedures, includingchasing clients who do not pay on time, and the outstanding invoice will be paid bythe client to the factoring company direct. Once the funds are received in full by thefactoring company, they will release the remaining balance of the invoice owed to you,less the agreed fees and charges and the advance already made.

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Two types of factoring are “recourse factoring” and “non-recourse factoring”, whichdiffer mainly in one area only. In the case of recourse factoring, the factoring companydoes not take on the liability of the debt should the client refuse to pay or go bust,whereas with non-recourse factoring, the factoring company accepts certain risks andagrees within the facility to cover these debts. It should be noted however that in theevent of a genuine dispute between the business and its client, the non-recoursefactoring company is unlikely to pay out. In some cases the factoring company willrequire additional protection to be taken out – especially in the event that one ormore of the company’s clients represents a high proportion of the overall debtor book.

Factoring facilities are often separated from the usual company bank accounts, as veryoften the larger institutions will take guarantees that crossover between both bankaccounts and factoring facilities.

Advantages of factoringThe company gets the benefit of an initial lump of cash and its debtor book can bediscounted anywhere from 80% to 100% of its total value (although the latter is lessusual and is mainly used in – for instance – making an acquisition or purchase ofanother company).

You will be able to raise invoices on a daily basis and discount them to the agreedpercentage, thus greatly improving cash flow. Across the initial payment and theongoing cash flow discounting, the company will usually benefit from a large cashsum and be secure in the knowledge that it will receive very fast payment on a fairamount of the invoices that it raises.

You will have access to a wide ranging cash flow facility; a reduction in cost to yourcredit control side of the business; the ability to protect against bad debts – dependenton the type of facility you take; and access to credit rating facilities to establish thecredit worthiness of your clients at the outset.

The Factoring Industry is very competitive, and as a result charges and costs areusually equally competitive.

Disadvantages of factoring Disadvantages may include aspects such as being locked into an agreement forbetween one and two years; having persistent bad debts which can affect the amountof cash flow facility available to you; also, some clients may not like to be chased by afactoring company, so it is imperative that you explain the arrangements you havemade with the factoring company to your clients.

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In some cases, the factoring company may reduce the level of advance against thoseof your clients that are deemed to be high risk, so it is a possibility that over time yourclient, which was being discounted to the maximum level, may have their percentageadvance reduced because their credit worthiness has reduced and – in extreme cases– the factoring company may refuse to advance against those clients at all.

If for any reason the invoice is not paid, and depending on whether you have arecourse or non-recourse factoring agreement, the value of the invoice could bededucted from your overall facility – thus restricting the amount of money availablefor drawdown in the future.

An additional issue is that of concentration, which is when one or more clientsrepresent a significant proportion or percentage of the overall total debtor book value.This can usually be resolved by either reducing the advance on those companies’invoices, or taking out insurance cover against those clients.

A company which has a debtor book with large amounts of disputes, or a history ofwrite-offs or badly paying clients, will experience a reduction in the amount of fundsa factoring company will be prepared to advance, and if it is a serious problem it willprobably result in the factoring company declining to provide a facility.

In some cases a company may have too many small invoices in terms of value to collectand this again either restricts the amount that can be advanced or indeed rules outthe facility as it would be too costly for the factoring company to collect.

Many UK-based factoring companies will only provide factoring facilities for UK-based companies, however there are some specialist independent organisations –along with larger banking institutions, that provide export factoring – so if this isrelevant to you, it is important to choose a company which provides export factoringfacilities.

As a rough guide, most factoring companies look for businesses with turnovers inexcess of one hundred thousand pounds and have a reasonable spread of clientsthroughout the entire debtor book. Generally they are looking for debts under 90 daysalthough in some cases this can be extended, and they are particularly interested inthe type of contracts and contractual conditions that the company applies to its clients.

Factoring is not available to retailers or companies who sell directly to the public.

12


Invoice discounting – the basics

Invoice discounting is the main cash flow alternative to factoring and is a very effectiveway of improving the immediate raising of cash for a business. Again, generally thecompany has to have a reasonable level of turnover and this facility is not available toretailers or companies who sell directly to the public.

Invoice discounting releases money from the debtor book and can be up to 100% ofthe total debts. Unlike factoring, the company retains complete control over thereporting and collection of the debts, which it chases and collects itself.

This option is often favoured by companies who feel uncomfortable with their clientsknowing that they are discounting their ledger and also with some of their clients,who may refuse to accept invoices which are tied into factoring agreements.

The invoice discounter will be particularly interested in the quality of the clients andtheir debts and they will instigate a detailed overview of those debtors and usuallyreview the company’s overall strategy and the business procedures and conditions ofcontract that are in place.

The invoice discounter will charge an agreed percentage, plus an interest paymentagainst each invoice raised. These costs will be deducted from their payment and theywill remit the remaining amount to your business. When the client pays their invoice,the money you receive has to be paid immediately to the invoice discounter to repaytheir advance, less the agreed fee and interest.

This process can be repeated time and time again, however the invoice discounter willre-evaluate the facility on a regular basis taking into account any delinquent clientdebts and – as with factoring – you can choose between recourse and non-recoursefacilities. Again, this will be subject to specific conditions set by the discounter.

In some cases, discounters will agree to advance money against specific customers asopposed to the entire debtor book and the main advantage of this is that you onlyhave to pay the fees and interest agreed on those specific customers. It is veryimportant however you ensure that there are no disputes or problems with thecustomers that you discount as there can be significant penalties and costs attachedto non-payment in these instances.

Invoice Discounting is typically offered to more established businesses with reasonablebalance sheets who can also demonstrate their ability to undertake credit control andundertake monthly reconciliation. Naturally, costs are of prime interest to thecompany. These normally include interest charges and a service or management fee,which is calculated on an annual basis and will be expressed as a ‘minimum payment’

13


that your company will have to pay annually, regardless of the number of invoices thatit discounts: this fee is usually expressed as a percentage of turnover.

As a general rule, invoice discounting fees are slightly cheaper than factoring,especially if you’re selective about the number of customers that you are looking todiscount.

In some cases the discounters will require credit insurer’s charges to be levied,dependent on the appropriate risk or perceived risk of your client.

The process of appointing either a factoring or invoice discounting company willinvolve an initial meeting to discuss the business as a whole, the type of clients thecompany has and the overall facilities that are required. Usually the discounter willprovide an initial offer in principle, subject to due diligence. They will then providean offer in writing and outline all charges associated with the facility and in somecases charge a take on fee or charge for carrying out the due diligence and overview.

If the offer is accepted by both the client and the factoring or invoice discountingcompany, a team will be sent in to carry out due diligence to look at areas such ascontractual arrangements, number of clients, credit checks etc and will usually take asample of customers to contact direct to ensure that the debt exists and that there areno issues with the products or services that are being provided.

After the overview and due diligence has been carried out, the offer will be formalisedand upon acceptance and signing of a contract by the client, initial monies will bereleased and the facility will begin from the date of signing.

Certain points regarding the contract should be established from the outset: includingthe length of the facility; what record the discounter has in debt collection; whathappens in the event of a bad debt being incurred or if payment is refused by a client;what the percentage is that the discounter is prepared to advance against the debt; andwhat happens in the event that the credit worthiness of a client declines over time.

One of the key questions to ask is: what happens if you want to end the agreementeither at the end of the agreed facility period or more importantly prior to the agreeddate? It is quite usual for there to be a penalty should you wish to come out of thefacility early, and it is worth agreeing that penalty from the outset.

If you ensure from the start that you understand how factoring and invoicediscounting works, this can provide a superb way of releasing funds and assisting withcash flow, and both have many additional but differing advantages.

Factoring and invoice discounting facilities have become more and more sophisticatedover the years and now can be tailored specifically to the client’s needs, and in most

cases are far more flexible than overdraft facilities. As a company grows, the facilitieson offer can provide almost unlimited cash flow, providing the client continues tomeet all the agreed contractual requirements. There is no doubt that these flexiblefacilities have become the preferred choice of the majority of businesses in providingfinancial solutions for everyday requirements and if managed properly, definitelyprovide a quality solution for cash flow in today’s marketplace.


14

Asset Based Lending (ABL), Factoringand Invoice Discounting Directory

15

Company name Address Telephone Website/email

ABN AMROCommercial Finance plc

5 Aldermanbury Square, London,EC2V 7HR

0800 0778547

http://www.abnamrocommercialfinance.co.ukenquiries@abnamrocommercialfinance.co.uk

AIB CommercialServices Ltd

Bankcentre, Ballsbridge, Dublin 4,Ireland

00353(0)1660 0311

http://www.aib.ie

Aldermore InvoiceFinance

St. James’s House, 7 CharlotteStreet, Manchester, M1 4DZ

0800 0217040

http://[email protected]

Apex Finance Ltd14 High Street, East Grinstead,West Sussex, RH19 3AW

0134 2301784


Ashley CommercialFinance Ltd

8th Floor, 80 Mosley Street, St.Peter's Square, Manchester, M2 3FX

0161 2336380


Bank of Ireland UKCommercial Finance

Bow Bells House, 1 Bread Street,London, EC4M 9BE

0845 6038050

http://www.bank-of-ireland.co.ukbanking/commercial-finance

Barclay Weston Ltd10 Margaret Street, London, W1W 5RL

0845 1238004


Barclays Asset & SalesFinance

Churchill Plaza, Churchill Way,Basingstoke, Hants, RG21 7GL

0800 227222

http://www.barclaysassetandsalesfinance.com

Barclays Corporate1 Churchill Place, London, E14 5HP

0800 0154242


Bibby Financial Services 105 Duke Street, Liverpool, L1 5JQ0800 91 9592

http://www.bibbyfinancialservices.commarketing@bibbyfinancialservices.com

BLME (Bank of London& the Middle East plc)

Sherborne House, 119 CannonStreet, London, EC4N 5AT

020 76180000


BNP ParibasCommercial FinanceLtd

Westcombe House, 2-4 MountEphraim, Tunbridge Wells, Kent,TN4 8AS

0845 6931433

http://www.commercialfinance.bnpparibas.co.uk

Burdale Financial Ltd5th Floor, Bow Bells House, 1Bread Street, London, EC4M 9BE

0845 6418888


Calverton FactorsLimited

Calverton House, 1 Keller Close,Milton Keynes, MK11 3LL

01908268888


Celtic InvoiceDiscounting

54 Mulgrave St. Dun Laoghaire,Co. Dublin, Ireland

00353(0)1230 0866


Centric CommercialFinance Ltd

69 Park Lane, Croydon, Surrey,CRO 1JD

020 86032900


CharterhouseCommercial Finance plc

Oakfield House, 33 PerrymountRoad, Haywards Heath, WestSussex, RH16 3BW

0870 2431836


Close Brothers InvoiceFinance Ltd

Ridgeland House, 165 Dyke Road,Hove, East Sussex, BN3 1UY

0808 1593583


Clydesdale & YorkshireBank Invoice Finance

30 St. Vincent Place, Glasgow, G1 2HL

0800 0323971

http://www.cbonline.co.uk

http://www.abnamrocommercialfinance.co.uk

http://www.aib.ie

http://www.aldermore.co.uk

http://www.apexfinance.co.uk

http://www.ashleyfinance.co.uk

http://www.bank-of-ireland.co.uk

http://www.barclayweston.com


http://www.barclayscorporate.com

http://www.bibbyfinancialservices.com

http://www.blme.com


http://www.burdale.co.uk

http://www.calvertonfactors.co.uk

http://www.celtic-id.com

http://www.centriccf.com

http://www.charterhousefactoring.com

http://www.closeinvoice.co.uk



16


Creative CapitalSuite 1, Bates Mill Cottage, BatesMill Lane, Tiverton, Tarporley,Cheshire, CW6 9AE

01244 561343


Danske Bank UK75 King William Street, London,EC4N 7DT

020 74108000


Davenham AssetFinance

55 King Street, Manchester, M2 4LQ

0161 8328494


Euro Sales FinanceSmith House, Elmwood Avenue,Feltham, Middlesex, TW13 7QD

0800 716313


Factor 21 plc9,Thames Park, Wallingford, Oxon,OX10 9TA

01491 824993


Fair Finance 18 Ashwin Street, London, E8 3DL020 89880627


FGI Finance UK LLP15 Berkeley Street, 5th Floor,London, W1J 8DY

020 70167724


First Capital FactorsSutton House, Ashville Point,Clifton Lane, Sutton Weaver,Cheshire, WA7 3FW

0845 6769760

http://www.firstcapitalfactors.co.ukdavidmarsden@firstcapitalfactors.co.uk

Fortis CommercialFinance Ltd

Westcombe House 2-4 MountEphraim, Tunbridge Wells, Kent,TN4 8AS

01892 703500


GE Commercial FinanceLtd

Enterprise House, Bancroft Road,Reigate, Surrey, RH2 7RT

01737 841200

http://www.gecapital.co.uk/en/financial-solutions

Gener8 Finance Ltd86G Innovation Drive, Milton Park,Abingdon, Oxfordshire, OX14 4RX

0333 1218888


GMAC CommercialFinance plc

Heol Y Gamlas, Parc Nantgarw,Treforest Industrial Estate,Treforest, Cardiff, CF15 7QU

0844 8712222

http://www.gmacfs.co.uk

Grenke FactoringGC Factoring Ltd, 5th Floor, SaxonHouse, 3 Onslow St, Guildford,GU1 4SY

01483 401740


Hitachi Capital InvoiceFinance

Isis House, Red Cross Road,Goring on Thames, Reading, RG8 9HG

0808 1492451

http://www.hitachicapital.co.uk

HSBC Invoice Finance(UK) Ltd

21 Farncombe Road, Worthing,West Sussex, BN11 2BW

01903205181


IFG Network (InterfaceFinancial Group)

Riverside Business Centre,Riverside House, River Lawn Road,Tonbridge, TN9 1EP

0800 0148626


IGF Invoice Finance 2 Maidstone Road, PaddockWood, Tonbridge, Kent, TN12 6GF

0845 8350597


Innovation Finance LtdThe Innovation Centre, HighfieldDrive, Churchfields, St. Leonards-on-Sea, TN38 9UH

01424 858285


JSM Finance (RegencyFactors)

2 Regency Chambers, Jubilee Way,Bury, Lancashire, BL9 OJW

0845 4502220


Key Factors LtdCharnwood Beech Lane,Woodcote, Reading, Berkshire,RG8 OPX

014 91682133

http://www.keyfactorsltd.com

Leumi ABL LtdPacific House, 126 Dyke Road,Brighton, East Sussex, BN1 3TE

01273 716200


Leumi Invoice FinancePacific House, 126 Dyke Road,Brighton, East Sussex, BN1 3TE

01273 716200

http://www.leumiif.co.uk

Lloyds BankCommercial Finance

25 Gresham Street, London, EC2V 7HN

0800 1694356

http://www.lloydsbankcommercialfinance.co.uk

http://www.creativecapitaluk.com

http://www.danskebank.co.uk

http://www.davaf.co.uk

http://www.rbsif.co.uk

http://www.factor21.co.uk

http://www.fairfinance.org.uk

http://www.fgiww.com

http://www.firstcapitalfactors.co.uk

http://www.fortiscomfin.com


http://www.gener8finance.com


http://www.grenkefactoring.co.uk


http://www.business.hsbc.co.uk

http://www.ifgnetwork.co.uk

http://www.igfgroup.com

http://www.ifltd.org

http://www.regencyfactors.com


http://www.leumiabl.co.uk




17


MarketInvoice Contact via website0845 5480508


MZ FactoringStag House, 420 Linthorpe RdMiddlesborough, TS5 6HW

016 42852222

http://www.mzfactoring.co.uk

N&T Consultants LtdFairgate House, 205 Kings Road,Birmingham, B11 2AA

0121 2011746 020 37018000


NatWest CommercialBanking

100 Leadenhall Street, London,EC3A 3BP

0800 0732256

http://www.natwest.com/commercial

Nucleus CommercialFinance

Greener House, 66-68 HaymarketLondon, SW1Y 4RF

020 78391980


Panel Financial UK PO Box 63, Malvern, WR14 2YS0168 4577675


Partnership Finance LtdRiverside House, River Lawn Road,Tonbridge, Kent, TN9 1EP

01732 783533


Peak Cashflow6C St. Michaels Court, WarstoneParade, East Birmingham, B18 6NR

012 12367375

http://www.peakcashflow.co.uk

Platform Black LimitedBelvedere House, Basing View,Basingstoke, RG21 4HG

0330 1003636


Positive CashflowFinance Ltd

Castlefield House, Liverpool RoadManchester, M3 4SB

0161 8288100


Pulse Cashflow FinanceLtd

Level 3, Belvedere, Basing View,Basingstoke, RG21 4HG

0845 5397003


RBS Invoice Finance Ltd5th Floor, 2 Waterhouse Square,138-142 Holborn, London, EC1N 2TH

0800 716313


Redd Factors LtdShalford Dairy, Wasing Estate,Aldermaston, Berkshire, RG7 4NB

011 89712331

http://www.reddfactors.co.uk

Regency Factors plc2 Regency Chambers, Jubilee Way,Bury, Lancashire, BL9 0JW

0845 4502220


Resource/PharmacyPartners

Studio 4, Power Road Studios, 114Power Road, London, W4 5PY

0808 1445524


Reward Capital 17-19 York Place, Leeds, LS1 2EX0113 2462700


Reward CommercialFinance LLP

64 Wellington Street, Leeds, LS1 2EE

0113 2462700


Royal Bank of ScotlandInvoice Finance

42 St. Andrews Square,Edinburgh, EH2 2YE

0800 716313


Santander InvoiceFinance

1 Cornwall Street, Birmingham, B3 2DX

0121 2121112


Silverburn Finance (UK)Ltd

76 Winter Hey Lane, Horwich,Bolton, Lancs, BL6 7PQ

01204 669666

http://www.silverburnfinance.com

Skipton BusinessFinance Ltd

The Bailey, Skipton, NorthYorkshire, BD23 1DN

0845 6029354

http://www.skiptonbusinessfinance.co.ukinfo@skiptonbusinessfinance.co.uk

SME Invoice FinanceLtd

Chertsey House, 56-58 ChertseyStreet, Guildford, Surrey, GU1 4HL

01483 531100


http://www.marketinvoice.com


http://www.nandtconsultantsltd.co.uk


http://www.nucleuscommercialfinance.com

http://www.panel-financial.co.uk

http://www.partnershipfinance.co.uk


http://www.platformblack.com

http://www.positivecashflowfinance.co.uk

http://www.pulsefs.co.uk




http://www.resourcepartners.com

http://www.rewardcapital.co.uk

http://www.rewardcommercialfinance.com


http://www.liquidity.co.uk


http://www.skiptonbusinessfinance.co.uk

http://www.smeif.com


State Securities plc

Burlington House, BotleighGrange Office Campus, GrangeDrive, Hedge End, Southampton,WO30 2AF

0845 1705600


Tandem Invoice FinanceLtd

St. John's House, St. John's Street,Chichester, West Sussex, PO19 1UU

0845 6188515

http://www.tandemuk.com

TeamFactors LtdMonaco House, Monaco Works,Station Rd, Kings Langley, Herts,WD4 8LQ

01923 277880


Trade Finance PartnersLtd

30 Cannon Street, London, EC4M 6XH

020 76349851


Ulster Bank InvoiceFinance

1st Floor, Donegall Square East,Belfast, N. Ireland, BT1 5UB

028 90276112


Ultimate Finance Groupplc

Unit 1, Westpoint Court, GreatPark Road, Bradley Stoke, Bristol,BS32 4PS

0800 1217757


Working CapitalPartners

Buckingham House, 45 VivianAvenue, London, NW4 3XA

020 82036500

http://www.workingcapitalpartners.co.uk

Yorkshire BankFinancial Solutions

1st Floor, 20 Merrion Way, Leeds,LS2 8NZ

0845 7034567

http://www.ybonline.co.uk

18


http://www.statesecurities.co.uk


http://www.teamfactors.co.uk

http://www.tradefinpartners.com

http://www.invoicefinance.ulsterbank.co.uk

http://www.ultimatefinance.co.uk



The use of credit or leasing facilities provided by a specialist thirdparty credit or leasing provider to finance the acquisition of assetsfor the business.

Leasing and Asset Finance

21

An Introduction to Leasing and Asset Finance

Leasing and asset finance is one of the staple forms of funding – in particular for plantand machinery and other physical assets that businesses and entrepreneurs are lookingto purchase.

Whether it is buying new assets or machinery, or indeed refinancing existing plantand machinery to release funds for other activities, leasing and asset financeagreements are the ones most usually utilised.

Hire purchase agreements are one of the most readily used and recognised facilitieswhich are normally based on a fixed term over a number of years and include therepayment of both interest and capital at the same time. At the end of the term youown the asset once it is fully paid for.

Leasing assets basically means that you rent or hire the asset over a period of time butnever own it outright. In some cases the leasing provider will allow the purchase ofthe piece of equipment for a nominal sum at the end of the term, but in most caseswill look to sell on the asset once the finance agreement has ceased.

Leasing does have its advantages in a situation where technology is prone to changerapidly, and a company will need to upgrade to more modern equipment within arelatively short period of time.

Both leasing and asset finance can cover everything from plant, machinery, cars, officefurniture and many other applications. Deposits will normally be required and therecan be agreed payment holidays at the front end of any agreement.

In addition to high street banks, there are plenty of specialist independentorganisations providing these facilities, and most manufacturers will already haveagreements in place with finance and leasing providers for their clients to utilise atthe time of purchase.

These facilities are flexible and usually cost-effective and can generally be extendedover a payment period ranging from one year up to a maximum of around 10 years.It is important to understand the conditions of any loan agreement, especially in thecase of early repayment or default and it is often worthwhile getting a second opinion– especially if the capital sum involved is quite large.

Leasing and Asset Finance Directory

23


1pm15 St. James's Parade, Bath, BA1 1UL

0844 9670944




0800 0778547


Agricultural MortgageCorporation plc

Charlton Place, Charlton Road,Andover, SP10 1RE

01264 334747




00353(0)1660 0311

http://www.aib.ie

Airstream InternationalGroup Ltd

Airstream House, 12 Parklands,Railton Road, Guildford, Surrey,GU2 9JX

01483 235737

http://www.airstream-int.co.uk

Aldermore AssetFinance

1st Floor, Block B, Western House,Lynch Wood, Peterborough, PE2 6FZ

0161 2385000



0134 2301784


Arkle Finance52-60 Sanders Road,Wellingborough, NN8 4BX

01933 304791


Armada FinanceArmada House, Odhams Wharf,Topsham, Exeter, EX3 OPB

01392 879599

http://www.armadafinance.com


8th Floor, 80 Mosley Street, St.Peter's Square, Manchester, M23FX

0161 2336380


Asset Advantage LtdThird Floor, Matrix House, BasingView, Basingstoke, RG21 4DZ

01256316200

http://www.assetadvantage.co.uk

Bank Leumi (UK) plc20 Stratford Place, London, W1C 1BG

020 79078000


Bank of Ireland (UK) plcBow Bells House, 1 Bread Street,London, EC4M 9BE

0845 6038050


Bank of IrelandFinance, Dublin

Head Office, Lower Baggot Steet,Dublin 2

00353 1661 5933

http://www.bankofireland.com


0845 1238004



Churchill Plaza, Churchill Way,Basingstoke, Hants, RG21 7GL

0800 227222


Barclays Trade andWorking Capital

International Department,Churchill Plaza, Churchill Way,Basingstoke, Hants, RG21 7GP

0845 9000600

http://www.barclayscorporate.com/products-and-solutions/financing.html

Bibby Leasing Ltd7 Airport West, Lancaster Way,Yeadon, Leeds, LS19 7ZA

0800 919592


BNP Paribas LeaseGroup plc

Northern Cross, Basing View,Basingstoke, RG21 4HL

0845 2267367

http://www.leasingsolutions.bnpparibas.co.ukenquiries@bnpparibas-leasegroup.co.uk

http://www.1pm.co.uk


http://www.amc.co.uk

http://www.aib.ie




http://www.arklefinance.co.uk




http://www.bankleumi.co.uk





http://www.barclayscorporate.com/products-and-


http://www.leasingsolutions.bnpparibas.co.uk


24



0845 6418888




020 86032900


CHG-Meridian UK LtdBarons Court, 22 The Avenue,Egham, Surrey, TW20 8RZ

01784 470701


CIT Group (UK) LtdCirca, 2a High Street, Bracknell,Berkshire, RG12 1AA

01344 383700

http://www.cit.com

Close Brothers AssetFinance Ltd

11th Floor, Tolworth Tower, EwellRoad, Surbiton, Surrey, KT6 7EL

0808 1158619


Close Motor FinanceRoman House, Roman Road,Doncaster, DN4 5EZ

01302 646464


Clydesdale Bank AssetFinance Ltd

Stirling House, Blair Court, 6 NorthAvenue, Clydebank Business Park,Clydebank, G1 2HL

0800 0323971


Conister Finance andLeasing

Oak 5, Ground Floor, CentrixHouse, Crow Lane East, Newton-le-Willows, Merseyside, WA12 9UY

01925273150


Corporate AssetSolutions Ltd

Island House, 8 Fernacre BusinessPark, Budds Lane, Romsey,Hampshire, SO51 OHA

08542 799777


County Asset Finance11 Midland Court, Central Park,Leicester Road, Lutterworth,Leicestershire, LE17 4PN

01455 200150


D & D Leasing (UK) Ltd70 St. Mary Axe, London, EC3A 8BE

020 76180926



020 74108000




0161 8328494


Deutsche Leasing (UK)Ltd

45 London Road, Reigate, Surrey,RH2 9PY

01737 232900

http://www.deutsche-leasing.com/[email protected]

Eastern Credit LtdBeacon Innovation Centre, BeaconPark, Gorleston on Sea, Norfolk,NR31 7RA

01493 856069


ECF Asset Finance plc


01925 273150


First Lease Ltd 7 Caroline Place, Bath, BA1 5HU0844 2472009


First Trust BankFirst Trust Centre, 92 St. AnnStreet, Belfast, BT1 3HH

0845 6005925

http://www.firsttrustbank.co.uk

GE Capital EquipmentFinance Ltd

The Ark, 201 Talgarth Road,London, W6 8BJ

020 73026300

http://www.gecapital.co.uk

GE Commercial FinanceFleet Services Ltd

Old Hall Road, Sale, Cheshire,M33 2GZ

0870 4588701


Glenside Finance LtdUnit A5, Segensworth BusinessCentre, Segensworth Road,Fareham, Hampshire, PO15 5RQ

01329 849434




http://www.chg-meridian.com

http://www.cit.com

http://www.closeassetfinance.co.uk

http://www.closemotorfinance.co.uk


http://www.conisterbank.co.im

http://www.corporateasset.co.uk

http://www.countyassetfinance.com

http://www.danddleasing.co.uk



http://www.deutsche-leasing.com/uk

http://www.easterncredit.co.uk

http://www.ecfplc.co.uk

http://www.firstlease.co.uk




http://www.glensidefinance.co.uk

Leasing and Asset Finance

25


GoIndustry DoveBid1-6 Lombard Street, London, EC3V 9JU

020 70983700


Haydock Finance LtdChallenge House, Challenge Way,Greenbank Business Park, Blackburn,BB1 5QB

01254 685858


Hitachi Capital BusinessFinance

Hitachi Capital House, Thorpe Road,Staines-upon-Thames, Surrey, TW18 3HP

084 32082244


HSBC Asset Finance1st Floor, 60 Queen Victoria Street,London, EC4N 4TR

0800 3281410


HSBC EquipmentFinance (UK) Ltd

12 Calthorpe Road, Edgbaston,Birmingham, B15 1FD

0845 6076007

http://www.hsbc.co.uk/equipmentfinance

Ignition Credit PLCSterling House, Truro Business Park,Threemilestone, Truro, TR4 9LF

01872272900


ING Lease (UK) Ltd60 High Street, Redhill, Surrey, RH1 1NY

0870 9986100

http://www.inglease.co.uk

Investec Asset Financeand Leasing

2 Gresham Street, London, EC2V 7QP020 75974000

http://www.investec.co.uk

Kingsley Asset FinanceLtd

Sterling House, 2-4 Mill Lane, WhittleLe Woods, Chorley, PR6 7LX

01257 232224


Leaseplan UK Ltd165 Bath Road, Slough, Berkshire, SL1 4AA

0844 4935810

http://www.leaseplan.co.uk

Lex AutoleaseLatimer House, Anglo Office Park,White Lion Road, Amersham, HP7 9JQ

0844 3352300

http://www.lexautolease.co.uk

Liberty Leasing plcLiberty House, 37 Mitchell Point,Ensign Way, Hamble, Southampton,SO31 4RF

023 80456565




0800 1694356


Lombard3 Princess Way, Redhill, Surrey, RH1 1NP

01737 774111

http://www.lombard.co.uk


0121 2011746 020 37018000


Nationwide CorporateFinance Ltd

9 Osier Way, Olney Office Park, Olney,MK46 5FP

01234 240155

http://www.ncfplc.co.uk

NatWest Bank plc2nd Floor, Waterhouse Square, 138-142 Holborn, London, EC1N 2TH

0800 0732256

http://www.natwest.com

PNC Business Credit8-14 The Broadway, Haywards Heath,West Sussex, RH16 3AP

01444 475820


Portman Asset FinanceLtd

18 Osyth Close Brackmills BusinessPark, Northampton, NN4 7DY

0844 8008825





17-19 York Place, Leeds, LS1 2EX0113 2462700


Santander Corporate 298 Deansgate, Manchester, M3 4HH0161 9533287

http://www.santander.co.uk

Shawbrook AssetFinance

Shawbrook House, Dorking BusinessPark, Station Road, Dorking, Surrey,RH4 1HJ

0845 6040970


http://www.go-dove.com

http://www.haydockfinance.co.uk




http://www.ignitioncredit.co.uk



http://www.kingsley-finance.co.uk



http://www.libertyleasing.co.uk

http://www.lloydsbankcommercialfinance





http://www.pncbusinesscredit.co.uk

http://www.portmanassetfinance.co.uk




http://www.shawbrookassetfinance.co.uk


Shire Leasing Plc1 Calico Business Park, Sandy Way,Amington Park, Tamworth,Staffordshire, B77 4BF

0182768939


Siemens FinancialServices Ltd

Sir William Siemens Square,Frimley, Camberley, Surrey, GU16 8QD

01276 696000

http://www.siemens.co.uk/[email protected]



0845 6029354


SME Asset Finance LtdKings Court, 2625 The Crescent,Birmingham Business Park,Birmingham, B37 7YE

0121 7880333


Southern Finance CoLtd

Southern House, 80 Shirley Road,Southampton, Hants, SO15 3EY

023 80226745

http://www.financingyourcar.org.uk



0845 1705600


Summit AssetManagement Ltd

Melita House, 124 Bridge Road,Chertsey, Surrey, KT16 8LA

01932 575888


Syscap LtdWimbledon Bridge House, 1Hartfield Road, London, SW19 3RU

020 82541975

http://www.syscap.com



0800 1217757


Yorkshire Bank AssetFinance

Ground Floor, 20 Merrion Way,Leeds, LS2 8NZ

08457 034567


26


http://www.shireleasing.co.uk

http://www.siemens.co.uk/financialservices





http://www.summitasset.co.uk




Providing services for businesses, organisations and individualsincluding current, deposit and saving accounts as well as providingloans to businesses.

Commercial andCorporate Finance

29

An Introduction to Commercial and Corporate Finance

Commercial and corporate finance is actually better known as a structured financefacility and most recently as “asset-based lending” or ABL. Effectively, ABL providersare the new boys on the block and look to structure commercial and corporate financedeals that stretch across a variety of business assets and requirements so that they canbe tied up in neat and flexible packages.

These ABL facilities have become more and more sophisticated over the last few yearsand over and above the normal high street bank offerings there are a number ofspecialist ABL providers that can put together some fantastic deals for the commercialoperator.

Basically, the ABL provider looks to mix and match between a number of facilities,generally starting with invoice discounting or factoring. This would then be combinedwith other areas of finance such as stock finance requirements, additional cash flowfacilities, plant and machinery financing, and in some cases the provider will evenlook to fund the cash flow element of the business to cover salary requirements.

The facility provider first and foremost looks at how the business is operated andbreaks down not only the quality and quantity of the customers that the business has,but also looks – in detail – at a wide selection of security options against the availableassets.

Additional term loans may often be provided; targeted to support the expansion plansof the business and the facility provider may take additional assets as security outsideof the business itself when available or required.

The combination of the various assets provides for a very competitive interest rateand charging scale and the facility is normally reviewed and renewed on an annual orbiennial basis. The longer the facility runs often means that the costs and charges arereduced; however there are penalties on the cost of coming out of any agreed facilityearly.

This is an excellent way of tying together a selection of funding options into a neatbundle which allows the business to cost the facility going forward and in many casesallows it to expand the funding required to meet pre-agreed growth patterns.

The setting up of this type of facility often involves a complete audit taking place whichincludes the valuation of existing assets in a similar exercise to that which takes placewhen setting up a factoring or invoice discounting facility.

The ABL provider will often present the company with indicative terms subject to duediligence, valuation, and audit – and at the point this is completed, will formalise termsand provide the client with a full contract.

It is often the case that the ABL provider will charge a fee to carry out the auditregardless of whether the facility is accepted, however it is fairly unusual for the facilitynot be agreed if it gets to the stage of a due diligence exercise.

This type of facility is now considered to be one of the foremost and most flexibleopportunities for finance and funding for small, medium and large companies alike.It has certainly been embraced by the finance industry and the differing levels ofsophistication that now exist in providing the type of facilities offered, makes for atruly competitive option for all.


30




0800 0778547


Ahli United Bank (UK)plc

35 Portman Square, London, W1H 6LR

020 74876500


Allied Irish BankBank Centre, 51 Belmont Road,Uxbridge, Middlesex, UB8 1SA

01895 272448

http://www.aibgb.co.uk



0845 6038050



0800 0154242




020 76180000




0845 6931433


Boost CapitalThird Floor, Carlton House, 101New London Road, Chelmsford,Essex, CM2 0PP

0800 138908001245 353326



0845 6418888




020 86032900


Close BrothersCommercial Finance

Sanmore House IDA Business &Technology Park, Clonshaugh,Dublin 17

0808 1593583


Clydesdale Bank plc30 St. Vincent Place, Glasgow, G1 2HL

0141 2487070


Crédit AgricoleBroadwalk House, 5 AppoldStreet, London, EC2A 2DA

020 72145000

http://www.ca-cib.com


020 74108000



01493 856069


Everline c/o WDFC UK, Sheffield, S95 1AR0844 3913376

http://www.everline.com



01737 841200


Goldcrest FinanceBartle House, 9 Oxford Court,Manchester, M2 3WQ

0161 2362122


31

Commercial and Corporate Finance Directory


http://www.ahliunited.com




http://www.blme.com

http://www.commercialfinance.bnpparibas.co

http://www.boostcapital.co.uk










http://www.goldcrestfinance.com


Gower HouseAssociates

Gower House, 7 Lambridge WoodRoad, Henley-On-Thames,Oxfordshire, RG9 3BP

01491 576008


HSBC Bank CorporateBanking

City Corporate Banking, Centre,1st Floor, 60 Queen VictoriaStreet, London, EC4N 4TR

08456034158


ICON CorporateFinance

53 Davies Street, Mayfair, London,W1K 5JH

020 71526375


Investec Bank plc2 Gresham Street, London, EC2V7QP

020 75974000


JP Morgan Chase & CoEMEA Headquarters, 25 BankStreet, Canary Wharf, London,E14 5JP

020 77772000

http://www.jpmorgan.co.uk

Julian Hodge BankCommercial

29 Windsor Place, Cardiff, CF10 3BZ

0800 0217823


KBC Bank111 Old Broad Street, London,EC2N 1FB

020 76385812

http://www.kbcbank.com

Kinloch CorporateFinance Ltd

68 Lombard Street, London, EC3V 9LJ

020 71181442



01273 716200


Lloyds BankCommercial Banking


0800 1694356

http://www.lloydsbankcommercial.com



0800 1694356


Metro Bank PLCOne Southampton Row, London,WC1B 5HA

0345 08 08500

http://www.metrobankonline.co.uk

Nationwide BuildingSociety CommercialFinance

Kings Park Road, Moulton Park,Northampton, NN3 6NW

0800 665511

http://www.nationwidecommercial.co.uk


9 Osier Way, Olney Office Park,Olney, MK46 5FP

01234 240155




0800 0732256


Norwich andPeterborough BuildingSociety

Peterborough Business Park, LynchWood, Peterborough, PE2 6WZ

01733 372425


Pension-led FundingThe Pavillions, Eden Park, HamGreen, Bristol, BS20 0DD

0800 0147099



0800 716313







32


http://www.gowerhouseassociates.com


http://www.iconcorpfin.co.uk



http://www.julianhodgebank.com


http://www.kinlochfinance.co.uk








http://www.nandp.co.uk

http://www.pensionledfunding.com





Santander Corporate &Commercial Banking

2/F Victory House, Vision Park, ChiversWay, Histon, Cambridgeshire, CB24 9ZR

01223 266200


Shawbrook BankLutea House, The Drive, Great Warley,Brentwood, Essex, CM13 3BE

01277 751110


State Securities plcBurlington House, Botleigh GrangeOffice Campus, Grange Drive, HedgeEnd, Southampton, WO30 2AF

0845 1705600


TSB CommercialBusiness Banking

Henry Duncan House, 120 GeorgeStreet, Edinburgh, EH2 4LH

0845 8353865

http://www.tsbbusiness.co.uk

UBL CommercialBanking

2 Brook Street, London, W1S 1BQ0800 2182266

http://www.ubluk.com

Urban Exposure Ltd1 Hamilton Mews, Mayfair, London,W1J 7HA

020 74080022

http://www.urbanexposureuk.com/[email protected]

WK Capital LLPBridge House, London Bridge, London,SE1 9QR

020 74031877



1st Floor, 20 Merrion Way, Leeds, LS2 8NZ

0845 7034567


33

Commercial and Corporate Finance

http://www.santanderbreakthrough.co.uk

http://www.shawbrook.co.uk




http://www.urbanexposureuk.com/en

http://www.wkcapital.co.uk


Business Banking facilities.

Banking Finance

TELEPHONE 01908 396230 WWW.TOLLERS.CO.UK

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CORPORATE • BANKING • COMMERCIAL • INSOLVENCY • EMPLOYMENT LAW

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BECAUSE BUSINESS ISN' T EASY

Tollers – Anatomy of a FinanceTransaction – the role of the finance lawyerWhatever your finance needs, establishing a clear close working relationship with yourlawyer is essential to a successful outcome. Whether your proposed transactioninvolves loan finance, acquisition finance, asset finance, project finance, real estatefinance or trade finance, the stages of the transaction will be broadly similar and yourlawyer will take you through each stage to ensure that the transaction is structured toachieve your objectives.

Role of the LawyerSo as a borrower, what can you expect from your lawyer? In most cases, there is animbalance of power between funder and borrower and this imbalance invariablyinforms the respective roles of the legal advisers. The process is usually driven by thefunder’s lawyers and you can expect the documentation to be largely based on thefunder’s standard forms. In essence, it is the role of the borrower’s lawyer to:understand your goals and objectives and any particular issues; protect your interestsand assets from invasive funder demands and ensure that the transaction runssmoothly and completes on schedule. In a large part, this can be achieved by preparingthoroughly, being responsive and pro-active and identifying and tackling potentialstumbling blocks from the funder’s perspective.

Finding FinanceOver and above their traditional functions relating to the structuring of a transactionand the negotiation and completion of the finance documentation, your financelawyer can prove a valuable resource in relation to sourcing potential funders.Combining both a solid understanding of your business and exposure to fundersoperating in your local market or business sector, your lawyer will be well placed tointroduce you to appropriate funders.

37

Early Involvement Term SheetIf your lawyer has not assisted you in finding a funder, the ideal starting point forengaging them will be prior to settling the term sheet with the funder.

The term sheet will be agreed between borrower and funder and will contain therelevant commercial details and key terms of the transaction. Commonly a term sheetwill include details of: the parties; the amount and duration of the funding; interestrates; types of representations and events of default; required guarantees and security;required conditions precedent; and fees and charges. Term sheets are not usuallylegally binding upon the parties other than in respect of provisions relating to funder’scosts and expenses, and confidentiality.

Whilst the provisions of a term sheet are not generally binding, they do form thetemplate for the transaction and hence funders will usually be resistant to negotiateany departure from those terms (arguing that the borrower had the opportunity tonegotiate these prior to the signing of the term sheet). Furthermore, any suchdeparture may require the transaction to be resubmitted for funder credit approvalwhich could result in delay or rejection. Therefore, the way to ensure that thetransaction meets all of your requirements is to involve your lawyer in the negotiationof the term sheet.

Efficient StructureAnother benefit of involving your lawyer at an early stage is to obtain advice on theideal manner in which the borrowing entity/ies should be structured. Whether youcurrently operate as a sole company, a group of companies, a partnership, a limitedliability partnership or a sole trader, there may be benefits in changing the structureof your business to efficiently accommodate the borrowing. The funder will be lessconcerned about the structure of the borrower so long as its security net covers all therequired assets, but there may be tax and other corporate advantages to adjusting thestructure prior to the funding.

Clear InstructionsAt whatever stage you chose to involve your lawyer, the key to a successful financetransaction (and any transaction for that matter) is ensuring that your lawyer hascomprehensive and clear instructions. Unless your lawyer knows precisely what yourexpectations of the transaction are and any particular sensitivities, they will be unableto properly protect your interests. Whilst this may seem obvious, it is frequently the


38

case that lawyers receive only very basic instructions, perhaps only a copy of an agreedterm sheet and contact details for the funder’s solicitors. Best practice will always beto have an initial meeting (or at least, a telephone conversation) with your lawyerduring which you can explain in detail exactly what you require from the transaction.This will give your lawyer the opportunity to ask questions and tease out your positionon issues which you may not have previously considered. It will be much easier toaddress issues with the funder at an early stage in the transaction. Note that it wouldstill be important to have this dialogue with your lawyer even if the term sheet hasalready been settled, as it will provide the opportunity to determine whether the termsof the term sheet are in fact consistent with your objectives.

Relevant InformationThe key to a smooth transaction is staying ahead of the game. In addition to yourinitial instructions to your lawyer, there is likely to be other information your lawyerwill need from you to satisfy the funder’s solicitors and keep the transaction movingforward. The sooner you can provide such details to your lawyer, the quicker anypotential issues can be identified and resolved.

Assets Security will be a critical issue for your funder. The assets against which the financewill be secured will be the subject of significant due diligence on the part of thefunder’s lawyers. To this end, you need to provide your lawyer with comprehensiveinformation relating to all substantial assets that are intended to be covered by thefunder’s security. Remember that this may extend beyond the assets of the immediateborrower to other group or associated companies, if the security package is to includethird party security. Any dispute regarding, or defect in title to, any relevant asset issomething that you are likely to have to disclose to the funder and which could delayor, in a worst case scenario, derail the transaction.

Existing ArrangementsYour funder will want to obtain first ranking security over the assets. However, theassets may currently be subject to existing security arrangements or otherencumbrances. You need to ensure that your lawyer is aware of (and is provided alldocumentation relating to) any existing finance arrangements and security over therelevant company and assets. Your lawyer will need to know whether any existingfinance is to be refinanced through the present transaction or whether existingarrangements are intended to remain in place. If the existing lending is to survive thenany restrictions in, and contractual requirements of, the existing agreements will need

Banking Finance

39

to be reviewed and complied with a view to the present transaction. It is likely thatexisting lender approval would be required and it will also be necessary to ensure thatthe new funder is comfortable with the arrangement. An inter-creditor or deed ofpriority will also likely be required to govern the relationship between the variousfunders. If the existing lending is to be satisfied using the new finance, deeds of releasewill be required. It is worth noting that even if an earlier lender has been fully repaid,it is not uncommon to find that the applicable security has not been removed fromthe relevant public registers. Whilst resolving such an issue is a purely administrativeprocess, it is something that could delay completion of the transaction and is thereforesomething that your lawyer will want to indentify and action well in advance.

Corporate GovernanceIn the case of a UK registered company, your company/ies constitutionaldocumentation will be publicly available. However, if one or more of the borrowingobligors is a partnership or an overseas entity, then you will need to provide yourlawyer with all relevant documentation, so as to confirm that the proposed transactionis within each party’s powers and so that they can understand what actions arerequired to authorise the transaction. You will also need to inform your lawyer of anyadditional internal procedures relating to the execution of the transaction anddocumentation and the relevant officers who will execute on behalf of the borrowingentities. The logistics of completion can often be complicated and advance knowledgeof the identity and availability of the relevant signatories will help ensure that thereare no unexpected delays. Where borrower obligors are overseas entities, it may alsobe necessary to procure foreign legal opinions as to the standing of the entity, its abilityto enter in to the relevant documentation and the enforceability of the obligations inthe jurisdiction. Identifying and dealing with appropriate overseas lawyers can be aslow process so such requirements should be indentified and actioned as early aspossible.

Documentation and NegotiationThe bulk of your lawyer’s work will involve agreeing what documentation will berequired and negotiating the terms of the same with the funder’s lawyers. Again,maintaining close contact with your lawyers during this stage is important. Ideally,you will provide a single point of contact for your lawyer to report back on the contentof the documentation and to take instructions on relevant issues. That point of contactwill be responsible for passing on your lawyer’s advice or queries to all appropriatepersons within the borrower’s group, which may include other borrower obligors such


40

as guarantors. Having a clear channel of communication through which to report backquickly and take swift instructions will help keep the negotiations moving forward.Certain factual and commercial provisions such as representations and warrantiesand financial covenants will require significant input from you (and your financialadvisers).

As mentioned above, it is likely that most of the documentation will be based on thefunder’s standard form documents. Your lawyer will of course review alldocumentation both in the context of the transaction and current market practice. Itshould be noted that there are certain documents (or substantial parts of documents)that are unlikely to be open to negotiation/modification for example, the funder willinvariably be reluctant to alter its “standard form” security documentation as this maybe subject to certain internal underwriting or credit constraints.

The suite of documentation will of course differ between transactions and types offinance however common documents will include the: term sheet; facility agreement;hedging agreement; security documents; guarantees; and inter-creditor agreement, aswell as ancillary documentation such as: legal opinions, certificates and resolutions;and conditions precedent documents. All of these documents will need to be agreedbetween the parties prior to completion. Some of these documents will necessarilynot be available until close to the end of the transaction and so identifying thedocuments on the “critical path” to completion and prioritising these will help keepthe transaction on schedule.

Conditions PrecedentConditions precedent (CPs) are matters (commonly deliverables) which the funderrequires to be satisfied prior to the completion of the transaction and the draw downof funds. Often the CPs can run to a very long list and one of the challenges for yourlawyer is to manage these requirements in conjunction with you and third parties.CPs might be deliverable by the borrower, other borrower obligors, third parties orthe lawyer themselves. It is important therefore for you to liaise with your lawyer inrelation to the procurement of CPs so that everyone is clear who is responsible forobtaining each individual CP and so progress in this respect can be monitored.Commonly your lawyer will circulate a master schedule of CPs and will seek regularupdates on progress. As and when any problems arise in respect of satisfying any CP,this needs to be addressed promptly with the funder who can decide whether to waivethe requirement. Failure to remain on top of CPs is a common cause of delayedcompletions.

Banking Finance

41

Completion Once all of the documents are in an agreed form and the CPs have all been met ordelivered to the funder’s satisfaction, you will be in a position to complete thetransaction and draw down the funds in accordance with the facility agreement.Again, close liaison with your lawyer at this stage will be essential for a smoothcompletion. It is only once documents are in an agreed form that they can be tabledto the relevant parties for corporate approval. Hence it is necessary to plan ahead toensure that the required procedure can be enacted, and the necessary officers of eachobligor are available, to convene and attend the requisite board meetings to approveentry into the documents and the transaction as a whole. Similarly, should any foreignlegal opinion be required, it will be at this time that the final form documentation canbe provided to the foreign lawyer and the opinion formally signed off (note that theopinion should have been prepared in draft prior to this time against earlier drafts ofthe documentation).

The lawyer needs to ensure that the borrower and any other borrower obligors deliverto the completion meeting all documentation (commonly CPs) for which they areresponsible and which they hold. The borrower will need to ensure that all relevantborrower side signatories are available to attend the completion meeting (or havesigned their documentation in advance). Authorised signatories will need to beavailable whether completion occurs on the day planned or is delayed, so flexibility isthe key.

In some transactions conditions subsequent may be required (often where a CP iscarried over) so both the borrower and their lawyer will need to ensure that these aresatisfied in order to avoid an event of default.

ConclusionWhilst it might be tempting for a borrower to think that once a term sheet is agreedwith the funder the deal is done and it is just a question of arranging draw down, youcan see that there is a great deal more work that is required before you can get yourhands on that much needed funding. Your lawyer will guide you through this processand will fight your corner against a funder who will usually hold more of the cards.Establishing a good working relationship with your lawyer and maintaining clear linesof communication, is the best way to ensure a smooth transaction. Problems can, andwill, arise along the way but by identifying and tackling these as early on in the processas possible, you will give yourself the best chance of satisfying your funder andreaching completion on schedule, thereby avoiding any unwanted delay or disruptionto your business.


42

Banking Finance

43

Matthew Crosse Partner, Banking & Finance

Tel: 01908 396230Email: [email protected]

Dan Kelmanson Partner, Banking & Finance

Tel: 01908 396230Email: [email protected]

Tollers LLPMedina House

312-314 Silbury BoulevardMilton Keynes

MK9 2AEhttp://www.tollers.co.uk

http://www.tollers.co.uk

LOCAL BUSINESSMANAGERS INEVERY STORE

OPEN 7 DAYSEARLY & LATE

362 DAYS A YEAR

LOCAL LENDERSMAKING LOCALDECISIONS

SME FINANCEINVOICE & ASSET FINANCE

*Account opening conditions apply. All Metro Bank products are subject to status and approval. Metro Bank PLC is registered in England and Wales, company number 6419578. Registered office: One Southampton Row, London WC1B 5HA. We’re authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and Prudential Regulation Authority. ‘Metrobank’ is the registered trade mark of Metro Bank PLC. 806 M117 (03/12)

JOIN THE REVOLUTIONJOIN

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VOLUTION

VOLUTION

An Introduction to Banking Finance

Finance and funding provided through the banking institutions is by far the mostwell-known of financial sources available to the commercial business or theentrepreneurial individual.

Traditionally, a bank will offer everything from company overdraft facilities throughto short, medium and long-term loans. The overdraft is still pretty much flourishingand in regular use, however options such as Factoring and Invoice Discounting areincreasingly being offered as alternatives by the banks as a more flexible way ofproviding cash flow facilities.

Typically, the following different types of finance and funding facilities are availablefrom the banking community:

• Overdrafts• Bridging Finance• Receivables Funding including Factoring and Invoice Discounting• Term Loans• Asset Finance and Leasing• Commercial Mortgages• Fixed Asset Loans

Most of these facilities will be covered in the introductions to different sections in thisdirectory; however, it is useful to cover the two most popular lending areas that banksare well known for: Overdrafts and Term Loans.

Overdrafts

This option is usually arranged alongside normal existing banking facilities and manycompanies utilise this for their short-term cash requirements. Overdrafts are normallylow cost, and more importantly, highly flexible. A bank manager would normally lookto agree a preset facility which is renewable annually and there is usually a fixed chargefor setting up this facility at the outset, of around 1% of the total facility value.

Interest is paid on the amount of money drawn down on a daily basis which isnormally charged at a certain percentage over the prevailing Bank of England BaseRate – usually making this a much cheaper option than a short, medium, or long term

45

loan as the balance or advance you are paying interest on should go up and down overthe monthly cycle of the business.

Unlike other facilities such as Factoring or Invoice Discounting, or even a Term Loan,there is generally no cancellation charge for coming out of the facility. The overdraftis normally very quick to arrange and can itself be extended to meet additional short-term requirements.

The overdraft is normally secured against the businesses assets as well as personalguarantees from the directors and even a debenture charge over the director’s personalassets such as their house.

There are other types of overdrafts which are considered to be unsecured, howeverthese are increasingly rare and usually only apply to low-level advances or limits onthe overdraft.

The interest rate applied to an overdraft is always variable so you do have to be verycareful when assessing the true cost of the facility, especially if the bank base rate orinterest charge becomes volatile.

The overdraft itself is repayable on demand, which basically means the bank can askfor the overdraft to be repaid immediately without having to give any commercialreason whatsoever. A forced repayment or withdrawal of the overdraft facility isunlikely unless your company gets into financial difficulties, and in most cases thelender will look to reduce the facility over time to allow the borrower a sensibletimeframe to repay the debt. Should an organisation, however, be adjudged to be ahigh financial risk because of, for instance, an unforeseen commercial event, it maybe the case that the lender will ask for immediate repayment.

It is best to utilise an overdraft facility in conjunction with a mixture of loans and ifpossible Factoring or Invoice Discounting, however a bank will – as a general rule –reduce your overdraft facility should you start using other cash flow solutions.

The overdraft is without doubt the best known, and in the past the most well usedmethod of providing short-term funding for your business, but the director orindividual needs to keep a constant eye on the overall cost of the facility making surethat they are taking advantage of other more cost-effective options available.


46

Term Loan facilities

These are generally utilised for the acquisition of assets or longer term capitalrequirements or even start-ups.

The banking institution will advance a set amount of money over an agreed timeframeeither on a fixed or variable interest rate dependent upon the asset value and theprevailing base rate.

There is normally a charge of setting up the loan which can be added to the totalamount borrowed and paid by monthly intervals over periods of between one and tenyears. In some cases the term of the loan will be measured against the longer termdepreciating value of the asset concerned, and may require a deposit, so the amountof the advance by the bank leaves them in a position where in the event of a defaultthey can sell the asset and recover their money.

In certain cases it may be possible to negotiate a short period of time or a repaymentholiday at the beginning of the loan to help ease the burden of the repayment.

As stated, interest rates can be fixed or variable, so you do have the option of workingout exactly what the repayment costs will be and incorporate these in your financialforecasts. Generally the loan is not repayable on demand; however there are someoccasions where this can be the case, e.g on much larger loans, and the company willbe required to provide ongoing financial information to the bank to keep themappraised of its performance. There may be additional penalties should the companymiss a payment or break other conditions that were laid down by the bank at theoutset.

In most cases there will be additional security required in the form of personalguarantees or indeed debentures or charges over other assets. There may also bepenalties for repaying the loan early: normally expressed as a percentage of the totalvalue of the loan.

The bank will usually want a full cash flow forecast and supporting evidence that youwill be able to make the payments for the loan out of cash flow. They will also requirevaluations on the purchase price of the item for which you require the loan, alongwith indications of what its value will be in terms of depreciation over time.

Banking Finance

47

Bank Facilities in General

There are increasingly more and more different types of banks and facilities availablein the marketplace. These range from the traditional high street banks through toindependent, private, and specialist banks that operate in areas such as Islamicbanking – which is consistent with the principles of Sharia law – and other banks thatspecialise in sectors such as charity, healthcare, education and ethical banking.

Some banks also specialise in providing facilities which are totally internet-based andhave no high street presence at all.

The banking community is becoming increasingly wide in its offerings and has nowmoved into other areas such as pensions, mortgages, insurance and life cover, howeverthe core values of the banks still remain and that is to provide short, medium andlong-term banking and loan facilities for commercial organisations and privateindividuals.


48

Banking Finance Directory

49


Abbey NationalTreasury Services Plc(ANTS)

Santander Global Banking andMarkets, 2 Triton Square, RegentsPlace, London, NW1 3AN

020 77565070


ABC International Bankplc

1-5 Moorgate, London, EC2R 6AB020 77764000

http://www.arabbanking.com

Adam & Company plc22 King Street, London, SW1Y 6QY

020 78394615


ADIB UKOne Hyde Park, 100Knightsbridge, London, SW1 7LJ

020 75902200


Agricultural Bank ofChina (UK) Ltd

7/F Bartholomew Lane, London,EC2N 2AX

020 73748900




020 74876500


Airdrie Savings Bank56 Stirling Street, Airdrei,Lanarkshire, Scotland, ML6 0AW

0123 6766851


Aldermore Bank1st Floor, Block B, Western House,Lynch Wood, Peterborough, PE2 6FZ

01733 404500


Alliance Trust SavingsLtd

PO Box 164, 8 West Marketgairt,Dundee, DD1 9YP

01382 573737


Allied Bank Philippines(UK) Plc

114 Rochester Row, London,SW1P 1JQ

020 72336311


Allied Irish Bank (GB)(AIBGB)

4 Tenterden Street, London, W1S 1TE

020 76473300


Alpha Bank66 Cannon Street, London, EC4N 6EP

020 73329200

http://www.alpha.gr

American Express BankLtd

60 Buckingham Palace Road,London, SW1W 0RR

0870 6005360

http://www.americanexpress.com

Anglo Irish BankCorporation Plc

10 Old Jewry, London, EC2R 8DN020 77107000


ANZ Bank (Europe)Limited

ANZ London Office, 40 BankStreet, Canary Wharf, London,E14 5EJ

020 32292121

http://www.anz.com/unitedkingdom/en

Arab National Bank35 Curzon Street, London, W1J 7TT

020 72974600


Arbuthnot Latham &Co

Arbuthnot House, 20 RopemakerStreet, London, EC2Y 9AR

020 70122500


Australia & NewZealand Banking GroupLtd (ANZ)

40 Bank Street, Canary Wharf,London, E14 5EJ

020 32292121

http://www.anz.com

BACB (British ArabCommercial Bank)

8-10 Mansion House Place,London, EC4N 6EP

020 76487777


http://www.santandergbm.co.uk


http://www.adambank.com

http://www.adib.co.uk

http://www.uk.abchina.com


http://www.airdriesavingsbank.com


http://www.alliancetrustsavings.co.uk

http://www.alliedbank.com.ph


http://www.alpha.gr


http://www.angloirishbank.co.uk

http://www.anz.com/unitedkingdom/en

http://www.anb.com.sa

http://www.arbuthnotlatham.co.uk

http://www.anz.com

http://www.bacb.co.uk


50



020 79078000


Bank Mandiri (Europe)Ltd

6 Thomas More Square, London,E1W 1YW

020 75538688


Bank of AmericaBusiness Capital

2 King Edward Street, London,EC1A 2AY

020 79964546

[email protected]

Bank of America MerrillLynch

Financial Centre, 2 King EdwardStreet, London, EC1A 1HQ

020 76281000

http://www.bankofamerica.com

Bank of BarodaGroup Control Office, 32 CityRoad, London, EC1Y 2BD

020 74571515


Bank of Beirut (UK) Ltd17a Curzon Street, London, WIJ 5HS

020 74938342


Bank of China (UK) Ltd90 Cannon Street, London, EC4N 6HA

020 72828845

http://www.bankofchina.com/uk

Bank of Cyprus UK27-31 Charlotte Street, London,W1T 1RP

0845 8505555


Bank of IndiaLondon Branch, 4th Floor, 63Queen Victoria St, London, EC4N 4UA

020 79652500


Bank of IrelandCorporate Banking

Head Office, 40 Mespil Road,Dublin 4

00353 1604 4000



0845 6038050




00353 1661 5933




0845 6038050


Bank of New YorkMellon

160 Queen Victoria Street,London, EC4V 4LA

020 71635566

http://www.bnymellon.com

Bank of ScotlandThe Mound, Edinburgh, Scotland,EH1 1YZ

0845 6060286

http://www.bankofscotland.co.uk/business

Bank of Tokyo-Mitsubishi UFJ

Ropemaker Place, 25 RopemakerStreet, London, EC2Y 9AN

020 75771000

http://www.bk.mufg.jp

Bank Saderat plc 5 Lothbury, London, EC2R 7HD020 76000133


Barclays Bank plc1 Churchill Place, London, E14 5HP

020 71161000

http://www.barclays.co.uk/businessbanking

Barclays Bank TrustCompany Ltd

1 Churchill Place, London, E14 5HP

0845 6010106

http://www.group.barclays.com

BIRA Bank225 Bristol Road, Edgebaston,Birmingham, West Midlands, B5 7UB

012 14466688




020 76180000


BMCE BankInternational

26 Upper Brook Street, Mayfair,London, W1K 7QE

020 74295500



http://www.bkmandiri.co.uk


http://www.bankofbarodauk.com

http://www.bankofbeirut.co.uk


http://www.bankofcyprus.co.uk

http://www.bankofindia.uk.com








http://www.saderat-plc.com



http://www.bira.co.uk

http://www.blme.com

http://www.bmce-intl.co.uk

Banking Finance

51


BNP Paribas UK10 Harewood Avenue, London, NW1 6AA

020 75952000

http://www.bnpparibas.co.uk

Bradford & Bingley plcP.O. Box 88, Cross Road, Crossflatts,Bingley, BD16 2UA

01274 555555

http://www.bbg.co.uk

Brown Shipley PrivateBanking

Founders Court, Lothbury, London,EC2R 7HE

020 76069833

http://www.brownshipley.com

Butterfield Private Bank(UK) Ltd

99 Gresham Street, London, EC2V 7NG

020 77766700


C. Hoare & Co 37 Fleet Street, London, EC4P 4DQ020 73534522

http://www.hoaresbank.co.uk

CAF Bank (Part ofCharities AidFoundation)

25 Kings Hill Avenue, Kings Hill, WestMalling, Kent, ME19 4TA

03000 123000


Cambridge & CountiesBank

Charnwood Court, New Walk,Leicester, LE1 6TE

0844 2253939


Capital One Bank(Europe) plc

Trent House, Station Street,Nottingham, NG2 3FB

0844 4812812

http://www.capitalone.co.uk

Cater Allen PrivateBank

Santander House, 9 Nelson Street,Bradford, Yorks, BD1 5AN

0800 0923300

http://www.caterallen.co.uk

Charity Bank Ltd194 High Street, Tonbridge, Kent, TN9 1BE

01732 774040


China ConstructionBank (London) Ltd

18th Floor, 40 Bank Street, HeronQuays, London, E14 5NR

020 70386000


Church House Trust3 Goldcroft, Yeovil, Somerset, BA21 4DQ

01935 609600

http://www.church-house-trust.co.uk

CIT Bank LimitedPeninsular House, 36 MonumentStreet, London, EC3R 8LJ

020 74114800

http://www.cit.com

Citibank UKPromenade Level, Cabot Place East,Canary Wharf, London, E14 4QS

0800 005500

http://www.citibank.co.uk

Close Brothers 10 Crown Place, London, EC2A 4FT020 76553100


Clydesdale Bank plc 30 St. Vincent Place, Glasgow, G1 2HL0141 2487070


Co-operative Bank PO Box 200, Delf House, Southway,Skelmersdale, WN8 6GH

08457 212212

http://www.co-operativebank.co.uk

Conister BankClarendon House, Victoria Street,Douglas, Isle of Man, IM1 2LN

01624 694694


Coutts & Co28th Floor, 1 Canada Square, CanaryWharf, London, E14 5AA

020 77531000

http://www.coutts.com

Crédit AgricoleBroadwalk House, 5 Appold Street,London, EC2A 2DA

020 72145000


Credit Suisse UK LtdTimes Place, 45 Pall Mall, 2nd Floor,London, SW1Y 5JG

020 78881000

http://www.credit-suisse.com/uk

Crown Agents Bank LtdSt. Nicholas House, St. Nicholas Road,Sutton, Surrey, SM1 1EL

020 86433311

http://www.crownagents.com

Cumberland BuildingSociety

Cumberland Business, Cooper Way,Parkhouse, Carlisle, Cumbria, CA3 0JF

0845 6018396

http://www.cumberlandbusiness.co.uk




http://www.uk.butterfieldgroup.com


http://www.cafonline.org

http://www.ccbank.co.uk



http://www.charitybank.org

http://www.uk.ccb.com


http://www.cit.com


http://www.closebrothers.co.uk










52


Danske Bank UK75 King William Street, London, EC4N 7DT

020 74108000


Deutsche Bank AG 1 Appold Street, London, EC2A 2UU020 75457660

http://www.db.com

Diamond Bank (UK) plc36-38 Leadenhall Street, London,EC3A 1AT

020 71844100


Duncan Lawrie PrivateBankers

1 Hobart Place, London, SW1W 0HU020 72451234


EFG Private Bank LtdLeconfield House, Curzon Street,London, W1J 5JB

020 74919111

http://www.efgl.com

EIIB (European IslamicInvestment Bank plc)

European Office, Milton Gate, 60Chiswell Street, London, EC1Y 4SA

020 78479900

http://www.eiib.co.uk

Europe Arab Bank –Private Banking

13-15 Moorgate, London, EC2R 6AD020 73158500


FBN Bank (UK) Ltd28 Finsbury Circus, London, EC2M 7DT

020 79204920

http://www.fbnbank.co.uk

FCMB (UK) LimitedBroadbent House, 65 GrosvenorStreet, London, W1K 3JH

020 72906840


FIBI Bank (UK) plc24 Creechurch Lane, London, EC3A 5JX

020 72809500

http://www.fibi.co.uk

First Trust BankFirst Trust Centre, 92 St. Ann Street,Belfast, BT1 3HH

0845 6005925


Gatehouse Bank plcFloor 24, 125 Old Broad Street,London, EC2N 1AR

020 70706000


GE Capital Bank LtdPO Box 821, Wallsend, Newcastle,NE28 5BE

08450 773333


Ghana InternationalBank plc

1st Floor, 67 Cheapside, London, EC2V 6AZ

0845 6056004


Goldman SachsInternational Bank

Peterborough Court, 133 Fleet Street,London, EC4A 2BB

020 77741000

http://www.goldmansachs.com

Guaranty Trust Bank(UK) Ltd

60-62 Margaret Street, London, W1W 8TF

020 79479700

http://www.gtbankuk.com

Gulf International Bank(UK) Limited

One Knightsbridge, London, SW1X 7XS

020 72593456

http://www.gibonline.com

Habibsons Bank Ltd 9 Portman Street, London, W1H 6DZ020 78951100


Hampshire Trust plcFareham House, 69 High Street,Fareham, Hampshire, PO16 7BB

01329 234294


HandelsbankenTrinity Tower, 3 Thomas More Square,London, E1W 1WY

020 75788000


Harrods Bank Ltd87-135 Brompton Road,Knightsbridge, London, SW1X 7XL

020 72256789


Havin Bank Ltd 30 Marsh Wall, London, E14 9TP020 75367050

http://www.hib.uk.com


http://www.db.com

http://www.diamondbankukplc.com

http://www.duncanlawrie.com

http://www.efgl.com


http://www.eabplc.com


http://www.fcmbuk.com



http://www.gatehousebank.com

http://www.gecapitaldirect.co.uk

http://www.ghanabank.co.uk




http://www.habibsons.co.uk

http://www.hampshire-trust.co.uk

http://www.handelsbanken.co.uk

http://www.harrodsbank.co.uk


Banking Finance

53


HSBC Bank PLC8 Canada Square, Canary Wharf,London, E14 5HQ

0800 3281410


HSBC Private Bank Ltd78 St. James Street, London, SW1A1JB

020 78605000

http://www.hsbcprivatebank.com

ICBC (London) plc81 King William Street, London, EC4N 7BG

020 73978888


ICICI Bank UKPO Box 68921, One Thomas MoreSquare, London, E1W 9HB

020 34785319


ING Bank (WholesaleBanking)

60 London Wall, London, EC2M 5TQ020 77671000

http://www.ing.com

Investec InvestmentBanking



Islamic Bank of Britainplc

97-99 Whitechapel Road,Whitechapel, London, E1 1DT

0845 6060786

http://www.islamic-bank.com

Jordan InternationalBank plc

Moreau House, 112-120 BromptonRoad, Knightsbridge, London, SW3 1JJ

020 31440200

http://www.jordanbank.co.uk

JP Morgan Europe LtdTrinity Tower, 9 Thomas More Street,London, E1 9YT

020 77772000

http://www.jpmorgan.com

Julian Hodge Bank 29 Windsor Place, Cardiff, CF10 3UR0292 0220800


Kexim Bank UK3rd Floor, Moorgate Hall, 155Moorgate, London, EC2M 6XB

020 75625500

http://www.koreaexim.go.kr/[email protected]

Key Factors LtdCharnwood Beech Lane, Woodcote,Reading, Berkshire, RG8 OPX

014 91682133


Kingdom Bank LtdRuddington Fields Business Park, MereWay, Ruddington, Nottingham,NG11 6JS

0115 9217250


Kleinwort BensonPrivate Bank Ltd

14 St. George Street, London, W1S1FE

020 32077000

http://www.kleinwortbenson.com



0800 1694356


Lloyds Banking Groupplc


020 76261500

http://www.lloydsbankinggroup.com

M&S Bank Kings Meadow, Chester, CH99 9FB0845 9000900

http://www.bank.marksandspencer.com

Macquarie GroupLondon

Ropemaker Place, 28 RopemakerStreet, London, EC2Y 9HD

020 30372000

http://www.macquarie.co.uk

Malayan BankingBerhad

Maybank London, 74 Coleman Street,London, EC2R 5BN

020 76380561

http://www.maybank-ib.com

Mashreq Bank PSC1st Floor 2 London Wall Buildings, 1-5London Wall, London, EC3M 5PP

020 73824000

http://www.mashreqbank.com

MBNA Europe Bank LtdPO Box 1004, Chester Business Park,Wrexham Road, Chester, CH4 9WW

0800 062062

http://www.mbna.com



http://www.icbclondon.com

http://www.icicibank.co.uk

http://www.ing.com

http://www.investec.com





http://www.koreaexim.go.kr/uk


http://www.kingdombank.co.uk








http://www.mbna.com


54


Melli Bank plc (Iranian)98a Kensington High Street, London,W8 4SG

020 76003636


Methodist Chapel AidLtd

1 Telford Terrace, Albermarle Road,York, YO24 1DQ

01904 622150



0345 08 08500


Mizrahi Tefahot BankLtd (Israel)

30 Old Broad Street 1st Floor, London,EC2N 1HQ

020 74480600

http://www.umtb.co.uk

Mizuho Bank LtdBracken House, One Friday Street,London, EC4M 9JA

020 70124000

http://www.mizuhobank.com

Morgan Stanley BankInternational Ltd

25 Cabot Square, Canary Wharf,London, E14 4QA

020 74258000


N M Rothschild & SonsLtd

New Court, St. Swithin's Lane,London, EC4N 8AL

020 72805000

http://www.rothschild.com


82 King Street, Manchester, M2 4WQ0161 8273800


National Bank ofCanada

71 Fenchurch Street, 11th Floor,London, EC3M 4HD

020 72656500

http://www.nbc.ca

National Bank of Egypt(UK) Ltd

Trafalgar House, 11 Waterloo Place,London, SW1Y 4AU

020 73891200


National Bank ofGreece plc

75 King William Street, London, EC4N 7BE

020 76263222

http://www.nbg.gr

National Bank ofKuwait (International)plc

13 George Street, London, W1U 3QJ020 72242277

http://www.nbk.com/[email protected]


0800 0732256


NatWest Bank plcBusiness

100 Leadenhall Street, London, EC3A 3BP

0800 0684773

http://www.natwest.com/business

Nedbank LtdOld Mutual Place, 2 Lambeth Hill,London, EC4V 4GG

020 70023400

http://www.nedbank.co.uk

Nomura BankInternational plc

Nomura House, 1 St. Martin's-le-Grand, London, EC1A 4NP

020 75212000

http://www.nomura.com

Northern Trust50 Bank Street, Canary Wharf,London, E14 5NT

020 79822000

http://www.northerntrust.com

OneSavings Bank plcReliance House, Sun Pier, Chatham,Kent, ME4 4ET

01634 848944


Persia InternationalBank plc

6 Lothbury, London, EC2R 7HH020 76068521


Philippine NationalBank (Europe) plc (PNK)

5-7 Hillgate Street, London, W8 7SP020 73132322


Punjab National Bank(International) Ltd UK

1 Moorgate, London, EC2R 6JH020 77969600


Qatar National BankSAQ

51 Grosvenor Street, London, W1K 3HH

020 76472600


QIB (UK) 4th Floor, Berkeley Square House,Berkeley Square, London, W1J 6BX

020 72687200


http://www.mellibank.co.uk

http://www.methodistchapel.co.uk




http://www.morganstanley.com



http://www.nbc.ca

http://www.nbeuk.com

http://www.nbg.gr

http://www.nbk.com/uk


http://www.natwest.com/business




http://www.osb.co.uk

http://www.persiabank.co.uk

http://www.pnbeurope.com

http://www.pnbint.com

http://www.qnb.com.qa

http://www.qib-uk.com

Banking Finance

55


Rabobank InternationalUK

Thames Court, 1 Queenhithe, London,EC4V 3RL

020 78093000


Raphaels Bank19-21 Shaftesbury Avenue, London,W1D 7ED

020 72925400


Rathbones InvestmentManagement Ltd

1 Curzon Street, London, W1J 5FB020 73990000


Reliance Bank LtdFaith House, 23-24 Lovat Lane,London, EC3R 8EB

020 73985400


Riyad BankRiyad Bank House, 17B Curzon Street,London, W1J 5HX

020 78304042

http://www.riyadbank.com/English/InternationalBanking/[email protected]

Royal Bank of CanadaEurope Ltd (RBC)

Riverbank House, 2 Swan Lane,London, EC4R 3BF

020 76534000

http://www.rbcwminternational.com

Royal Bank of Scotland 36 St. Andrew Square, Edinburgh, EH2 2YB

0800 0732257

http://www.rbs.co.uk

Sainsbury's Bank plc 33 Holborn, London, EC1N 2HT0500 40 5060

http://www.sainsburysbank.co.uk

Samba Financial GroupNightingale House, 65 Curzon Street,London, NW1 3AN

020 76598200

http://www.samba.com

Santander BusinessBanking

Abbey National House, 2 TritonSquare, Regents Place, London, NW1 3AN

0845 6070666

http://www.santander.co.uk/business

Santander CorporateBanking

2 Triton Square, Regents Place,London, NW1 3AN

0845 6070666


Santander UK Plc2 Triton Square, Regents Place,London, NW1 3AN

0870 6076000


Schroder & Co Ltd31 Gresham Street, London, EC2V 7QA

020 76586000

http://www.schroders.com

Scotiabank Europe plc 201 Bishopsgate, London, EC2M 3NS020 76385644

http://www.scotiabank.com

Scottish Widows Bankplc

15 Dalkeith Road, Edinburgh,Scotland, EH16 5BU

0131 6555000

http://www.scottishwidows.co.uk

Secure Trust Bank plcOne Arleston Way, Solihull, WestMidlands, B90 4LH

0800 6942148


SG Hambros Bank Ltd Exchange House, 12 Primrose Street,London, EC2A 2EG

020 75973000


Shanghai CommercialBank Ltd

65 Cornhill, London, EC3V 3NB020 73698888

http://www.shacombank.com


01277 751110


Société GénéraleSG House, 41 Tower Hill, London,EC3N 4SG

020 76766000

http://www.sgcib.com

Sonali Bank (UK) Ltd 29-33 Osborn Street, London, E1 6TD020 78778200

http://www.sonali-bank.co.uk

Standard Bank plc 20 Gresham Street, London, EC2V 7JE020 31455000

http://www.standardbank.com

Standard CharteredBank

1 Basinghall Avenue, London, EC2V 5DD

020 78858888

http://www.standardchartered.com

http://www.rabobank.co.uk

http://www.raphaelsbank.com

http://www.rathbones.com

http://www.reliancebankltd.com

http://www.riyadbank.com/English/Intern











http://www.securetrustbank.com

http://www.sghambros.com








56


State Bank of India630-632 Finchley Road, London,NW11 7RR

020 84583856


State Street Bank &Trust Co

20 Churchill Place, Canary Wharf,London, E14 5HJ

020 33957000

http://www.statestreet.com

Sumitomo MitsuiBanking CorporationEurope Ltd

99 Queen Victoria Street, London,EC4V 4EH

020 77861000

http://www.smbcgroup.com

Sumitomo Trust &Banking Co Ltd

Vintners' Place, 68 Upper ThamesStreet, London, EC4V 3BJ

020 72463600

http://www.sumitomocorpeurope.com

Syndicate Bank 2A East Cheap, London, EC3M 1LH020 76269681


T C Ziraat BankBasildon House, 7-11 Moorgate, TheCity, London, EC2R 6DB

020 76004985


TD Waterhouse BankNV

Exchange Court, Duncombe Street,Leeds, LS1 4AX

0845 6076002

http://www.tdwaterhouse.co.uk

Tesco BankInterpoint Building, 22 HaymarketYards, Edinburgh, EH12 5BH

0845 6785678

http://www.tescobank.com

The Access Bank UK4 Royal Court, Gadbrook Way,Gadbrook Park, Northwich, Cheshire,CW9 7UT

0845 2935535


The Norinchukin Bank4th Floor, 155 Bishopsgate, London,EC2M 3YX

020 75886589

http://www.nochubank.or.jp/en

Triodos Bank Deanery Road, Bristol, BS1 5AS0800 3282181


TSB Bank plcHenry Duncan House, 120 GeorgeStreet, Edinburgh, EH2 4LH

0131 2254555

http://www.tsb.co.uk

Turkish Bank (UK) Ltd84-86 Borough High Street, London,SE1 1LN

020 74035656

http://www.turkishbank.co.uk

UBS 1 Finsbury Avenue, London, EC2M 2PP020 75678000

http://www.ubs.com

Ulster Bank Ltd11-16 Donegall Square East, Belfast,N. Ireland, BT1 5UB

028 90275942

http://www.ulsterbank.com

UniCredit Bank AGMoor House, 120 London Wall,London, EC2Y 5ET

020 78261500

http://www.unicreditgroup.co.uk

Union Bancaire PrivéeUBP

26 St. James's Square, London, SW1Y 4JH

020 73691350

http://www.ubpbank.com

Union Bank of India(UK) Ltd

Senator House, 85 Queen VictoriaStreet, London, EC4V 4AB

020 73324250


Union Bank UK plc14-18 Copthall Avenue, London, EC2R 7BN

020 79206100


United Bank Ltd UK(UBL)



United Trust BankLimited

80 Haymarket, London, SW1Y 4TE0207 1905555


Unity Trust Bank plcCongress House, Third Floor, 23-28Great Russell Street, London, WC1B 3UB

0845 1401000


http://www.sbiuk.com




http://www.syndicatebank.co.uk

http://www.ziraatbank.co.uk



http://www.theaccessbankukltd.co.uk


http://www.triodos.co.uk



http://www.ubs.com




http://www.unionbankofindia.com

http://www.unionbankuk.com


http://www.utbank.co.uk

http://www.unity.co.uk

Banking Finance

57


Vanquis Bank1 Godwin Street, Bradford,W.Yorkshire, BD1 2SU

0871 7705555

http://www.vanquis.co.uk

Virgin Money 51 Moorgate, London, EC2R 6PB020 76380039

uk.virginmoney.com

VTB Bank Europe plc 14 Cornhill, London, EC3V 3ND020 33348000

http://www.vtbcapital.com

VTB Capital 14 Cornhill, London, EC3V 3ND020 33348000


Weatherbys Bank LtdSanders Road, Wellingborough,Northants, NN8 4BX

019 33304777

http://www.weatherbysbank.com

Wells Fargo30 Fenchurch Street, London, EC3M 3BD

020 71498100

http://www.wellsfargo.com

Wesleyan Bank Ltd Colmore Circus, Birmingham, B4 6AE0800 3581122

http://www.wesleyan.co.uk

West ImmoSwan House, 17-19 Stratford Place,London, W1C 1BQ

020 74916800

http://www.westimmobank.com

Westpac Europe Ltd2nd Floor, 63 St. Mary Axe, London,EC3A 8LE

020 76217000

http://www.westpac.com

Yorkshire BankFinancial Solutions Centre, Floor 6,One Canada Square, London, E14 5AA

0845 7034567


Zenith Bank (UK) Ltd 39 Cornhill, London, EC3V 3ND020 71053950











http://www.zenith-bank.co.uk

Finance for commercial property – long and short term.

Property Finance

An Introduction to Property Finance

Commercial Property Finance has – particularly for new property developments –proved to be very difficult to acquire in recent years. A lot of the main high streetbanks have shied away from funding the larger property developments given thatvalues have dropped massively, however there are still some organisations with anappetite to provide this type of funding.

Property funding is usually broken up into several sections which include:Commercial, Residential, and Sale and Leaseback. In the case of Commercial andResidential new builds, the funder will often require a reasonably sized contributiontowards the building programme, the same applies to land acquisition – and certaintargets are often set for drawdown of the agreed funds: such as planning permission;completion of the foundations; and signoff of the project as a whole.

It is often the case with new builds that the lender is able to be more flexible in theterms they offer if it can be demonstrated that there is an initial demand or appetitefor the purchase of parts of the new build, and that deposits can be acquired.

Sale and leaseback for both commercial and residential properties has become verypopular – especially where significant portfolios are being built up to generate viablerental returns over a sustained period of time. Usually lenders will advance between60% and 70% of the estimated value of the property and will also take into accountthe amount of rent that has been generated over time.

In addition to the traditional institutional lender, there are a lot of investmentconsortiums, high net worth individuals, and other independent lenders looking forquality opportunities to fund. It is, therefore, well worth casting around themarketplace with a suitable information memorandum to see how big an appetitethere is. There are also many builders and construction specialists who are very willingto enter into a joint-venture partnership to build a property – especially if the land isalready paid for. Again, it may be possible to find a construction offer on the back ofa delayed payment agreement with the joint-venture building partner.

On existing properties where perhaps the commercial business wishes to release fundson property that it already owns or partly owns, the option of a sale and leasebackagreement can prove to be very useful. Selling the property to an institution and thenagreeing to lease or rent it back over an agreed period of time for a set amount ofmoney can release significant funds for the business. Any lender in this area will belooking at the rental covenant to ensure that the business or individual will be rentingthe property over time, and it is a good idea to employ a specialist solicitor to ensure

61

that you are not tied into any contract that has owner’s clauses which may disadvantageyou in the future.

There are still plenty of organisations, institutions and investors prepared to lend oncommercial and residential property and specialist companies that will look to providesale and leaseback facilities. The market, however, has tightened somewhat in not onlythe percentage that it will lend against value, but also in their charges and interestrates. The lenders will be particularly keen on establishing not only the market priceof the property but also the sale price they will get in the event that they have to sellquickly to recover their money. This usually leads to a much lower percentage thatthey are prepared to advance, however if additional security can be given this amountcan be greatly increased.

There are specialist property brokers available in the marketplace who know all of thecompanies and the conditions that they tend to apply. A good place to start is with anorganisation called the NACFB (the National Association of Commercial FinanceBrokers) who operate through a strict code of practice and have some veryexperienced members who will be able to assist. The use of a specialist lawyer is alsoadvisable when looking at sale and leaseback options and specific contracts.


62

Property Finance Directory

63


Aareal Bank AG38 Lombard Street, London, EC3V 9BS

020 74569200

http://www.aareal-bank.com/[email protected]



01264 334747




020 74876500


Aldermore Mortgages1st Floor, Block B, Western House,Lynch Wood, Peterborough, PE2 6FZ

0333 3211010



01895 272448




020 76473300






0134 2301784




020 70122500


Aviva CommercialFinance

PO Box 21, Surrey Street, Norwich,NR1 3NJ

01603 687596

http://www.aviva.co.uk/commercialfinance


020 79078000



0845 8505555


Bank of IrelandMortgages

PO Box 27, One Temple Quay,Bristol, BS99 7AX

0845 3008000

http://www.bankofirelandmortgages.co.uk


0845 6060286



0845 1238004



020 71161000


Blemain Finance LtdLake View, Lakeside, Cheadle, SK8 3GW

0161 9337050




020 76180000


BOS Spec Prop FinanceThe Mound, Edinburgh, Scotland,EH1 1YZ

0845 3001956


http://www.aareal-bank.com/en



http://www.aldermore-mortgages.co.uk













http://www.blemaingroup.co.uk

http://www.blme.com



64


Brunel Mortgages andLoans Ltd

1st Floor, Avocet House, DorcanComplex, Faraday Road, Swindon, SN3 5HQ

01793 612266


Business LendingOne Crown Square, Woking, Surrey,GU21 6HR

0845 4656500


Charleston FinancialServices Ltd

Charleston House, 13 High Street,Hemel Hempstead, Herts, HP1 3AA

01442 8177180207 6552288


Close Brothers PropertyFinance

10 Crown Place, London, EC2A 4FT020 76553655


Clydesdale Bank plc 30 St. Vincent Place, Glasgow, G1 2HL0141 2487070


Commercial FirstThe Vineries, Broughton Hall BusinessPark, Skipton, N Yorkshire, BD23 3AE

08452689101


Commercial MortgageDesk

Lismore House, 28b Wilton Road,Reading, Berkshire, RG30 2SS

0845 0345130

http://www.commercialmortgagedesk.com

Coutts & Co28th Floor, 1 Canada Square, CanaryWharf, London, E14 5AA

020 77531000


Crédit AgricoleBroadwalk House, 5 Appold Street,London, EC2A 2DA

020 72145000


Devon and CornwallSecurities Ltd (DCS)

8 Fore Street, Camelford, Cornwall,PL32 9PG

01840 212832

http://www.devonandcornwallsecurities.co.uklh@devonandcornwallsecurities.co.uk

Eastern Credit LtdBeacon Innovation Centre, BeaconPark, Gorleston on Sea, Norfolk, NR31 7RA

01493 856069


ECF Asset Finance plcOak 5, Ground Floor, Centrix House,Crow Lane East, Newton-le-Willows,Merseyside, WA12 9UY

01925 273150


FAF – the RuralMortgage Specialists

c/o NatWest, 3rd Floor, 10 SouthStreet, Romford, RM1 1RA

0800 225567


Greenfield CapitalBank House, 8 Cherry Street,Birmingham, B2 5AL

0800 7797097



01329 234294



01254 685858


Helmsley GroupColenso House, Omega 1, MonksCross Drive, Monks Cross, York, YO329GZ

01904682800



0800 3281410


Hunter Finance (UK) LtdPost Office House, High Street,Uckfield, East Sussex, TN22 1AA

01825 749721


Interbay CommercialInterbay Funding Ltd, Cams Hall, CamsHill, Fareham, Hampshire, PO16 8AB

0845 9003300


Investec Bank plc 2 Gresham Street, London, EC2V 7QP020 75974000


http://www.brunelmortgages.co.uk

http://www.business-lending.co.uk

http://www.charlestonfinance.co.uk

http://www.closepropertyfinance.com


http://www.commercialfirst.co.uk




http://www.devonandcornwallsecurities.co.uk



http://www.fafltd.co.uk

http://www.greenfieldcapital.co.uk



http://www.helmsley.co.uk


http://www.hunterfinance.co.uk

http://www.interbayuk.com


Property Finance

65


Lancashire MortgageCorporation (LMC)

Lake View, Lakeside, Cheadle,Cheshire, SK8 3GW

0161 9337097

http://www.lancashiremortgage.co.ukapplications@lancashiremortgage.co.uk

Leonard James & CoLtd

5 St. John's Lane, London, EC1M 4BH020 70602999



25 Gresham Street, London, EC2V 7HN0800 1694356


Mortgage Works, The(TMW)

Portman House, Richmond Hill,Bournemouth, BH2 6EP

0845 4545800

http://www.themortgageworks.co.uk


New Court, St. Swithin's Lane, London,EC4N 8AL

020 72805000



82 King Street, Manchester, M2 4WQ

0161 8273800



0800 0732256




01733 372425


Peninsula Finance plc26 Lockyer Street, Plymouth, Devon,PL1 2QW

01752 292568


Precise Mortgages2 Charter Court, PO Box 6037,Wolverhampton, WV1 9QW

0800 1164385

http://www.precisemortgages.co.uk

Principality BuildingSociety

PO Box 89, Queen Street, Cardiff,CF10 1UA

0845 0450006

http://www.principality.co.uk

Property Investor LoansLake View, Lakeside, Cheadle,Cheshire, SK8 3GW

0161 333195207788970 694

http://www.propertyinvestorloans.co.ukchris.baguley@propertyinvestorloans.co.uk

RegentsmeadRussell House, 140 High Street,Edgware, Middlesex, HA8 7LW

020 85921414







Royal Bank of Scotland 36 St. Andrew Square, Edinburgh, EH2 2YB

0800 0732257



Abbey National House, 2 Triton Square,Regents Place, London, NW1 3AN

0845 6070666



01277 751110


State Securities plcBurlington House, Botleigh GrangeOffice Campus, Grange Drive, HedgeEnd, Southampton, WO30 2AF

0845 1705600




TSB Business BankingHenry Duncan House, 120 GeorgeStreet, Edinburgh, EH2 4LH

0845 8353858


Universal AcceptancesHexagon House, Gatley Road, Cheadle,Cheshire, SK8 1LZ

0161 7417435


http://www.lancashiremortgage.co.uk

http://www.leonardjames.co.uk

http://www.lloydsbankcommercialfinance






http://www.peninsulafinance.com



http://www.propertyinvestorloans.co.uk

http://www.regentsmead.com









http://www.universalacceptances.co.uk


66


Urban Exposure Ltd1 Hamilton Mews, Mayfair,London, W1J 7HA

020 74080022


Voltaire Financial LLP4th Floor, 73 Brook Street,Mayfair, London, W1K 4HX

020 71821740


W M Mann & Co(Investments) Ltd

201 Bath Street, Glasgow,Scotland, G2 4HZ

0141 2484936

No website



0845 7034567



http://www.voltairefinancial.com


Direct financing for business, to help with import and export, or‘commitments’ such as letters of credit, that can underpin deals,ensuring payment for the supplier.

Trade Finance


68

Trade Finance Partners is a specialist

professionals. Unlike most providers of trade

clients.

True Trade Financefor the real world

Trade Finance – An Overview andIntroduction by William Tebbit TFP

Trade Finance is a term used by banks and finance companies to describe a numberof different products and process. Many banks use ‘Trade Finance’ to describe whatare really trade services, where often no finance is actually provided. Trade Financeuses many of these trade related banking services too but they are ancillary. Tradeservices provided by institutions include Letters of Credit (LC), bank collections,factoring and invoice discounting, cross border payments, foreign exchange andsecure custodial services.

Trade Finance by comparison refers to the provision of working capital to fund atransaction utilising the credit standing of the end buyer’s order. This enables thefunder to finance the purchase of the goods from the supplier on behalf of the clientand obtain reimbursement from the end customer on delivery. It is sometimes referredto as Transactional Finance, Purchase Order Finance or Supply Chain Finance.

The credit risk of the end buyer may be enhanced by the provision of credit insuranceor a Letter of Credit, and often uses other risk mitigation techniques to provide thefunder with a transaction of acceptable risk and return. Typically the Trade Financierwill retain title to the goods under a trust arrangement and take title to the ensuingdebt. Some will enhance their security by taking a debenture over the client companyand personal guarantees from its owners. They will also usually require a securitydeposit, or “skin in the game” of around 10% of the purchase price of the goods.

Whilst the structure can appear onerous, it does provide a workable solution wheremore normal bank finance arrangements such as overdraft or invoice discounting areinappropriate. For example, invoice discounting does not work until the goods aredelivered to the end customer, but the supplier often requires payment on delivery,particularly where that supplier is overseas and does not know the client well enoughto advance trade credit. Similarly, in an overdraft situation, the level of fundingavailable may be insufficient to meet the obligations of the transaction and is inflexibleif an increased limit is required quickly. Trade Finance can bridge these requirements.

Trade Finance has been around for millennia. There are examples of merchantsfunding ship cargoes and getting paid from the sale of the cargo in Mesopotamia fourthousand years ago. In more recent times, Trade Finance was provided by ExportConfirming Houses. These entities bought the goods on behalf of an exporter and

69

against the security of credit insurance, then sold the goods to an overseas buyer. Muchbusiness was transacted this way in the nineteen sixties and seventies. Nowadays, thereare few Confirming Houses left, but the principle is still used by Trade Finance Houses.

These financing arrangements were supported by instruments developed especiallyto facilitate trade such as Letters of Credit and Bills of Exchange, which enabled largevalue transactions to be paid for without the need to carry large quantities of gold.They still work today.

The starting point for a successful Trade Finance transaction is a firm order from theend buyer and a fixed price quotation from a supplier. With these the client canapproach a Trade Finance House to seek funding. Some funders will consider one offtransactions but most prefer a series of transactions to make it more cost effective forthe client and the funder. The Financier will evaluate the transaction and determinewhether the credit terms suggested for the sale to the end user are appropriate, orwhether more secure terms are required. It will also determine whether CreditInsurance is needed or even available. Often the credit terms will need to be Letter ofCredit or cash against documents.

The Trade Finance House will review the commercial conditions including thedelivery terms and performance criteria. It can suggest refinements to make thetransaction less risky and simpler to execute. It will want to know that there is not aconflict between the delivery arrangements by the supplier and those demanded bythe end buyer. They will need to be consistent, if not matching. For example, one oftenfinds one party will quote delivery terms that appear to be under Incoterms(International Commercial Terms) but on closer scrutiny turnout to be somethingelse. The advantage of using internationally agreed terms is that both partiesunderstand their obligations and benefits, whereas unilaterally amended deliveryterms can leave one party exposed to the advantage of the other, and potentially makethe contract unworkable. For this reason any change in delivery terms needs to beproperly understood and give efficacy to the underlying contracts.

For these reasons, it is better to involve the Trade Finance House in the transactionearly, ensuring those arrangements can be modified before the parties are locked intothe transactional conditions.

Transactions normally involve the supply of finished goods but some limitedrepacking or ‘tweaking’ of the goods may be possible. Sales of perishable goods aremore challenging, but not impossible and will require a tight delivery schedule tomake sure the goods are not spoiled. Trade Finance can be particularly effective incontracts for the provision of commodities, albeit that the arrangements to verify thequality and quantity of the goods can be a challenge.


70

Control of the goods throughout the transaction is another challenge for the Financier.It will not wish to advance monies to a third party where it, or its client, does not havecontrol of the goods. In these circumstances it will look to the security offered by aBill of Lading (giving the holder the right to dispose of the goods) or appoint acustodial agent such as a Freight Forwarder or Warehouse Manager to keep controlof the goods until handed over to the desired party, when either payment or otherrequired arrangements have been completed.

Having control of the goods is only one factor. An equally important factor isverification of quality and quantity alluded to above. This issue is effectively mitigatedby use of inspection agents such as SGS or Bureau Veritas. They can inspect the goods,check they conform to the sample, are correct in quantity, monitor the weight andsupervise loading. Some will also act as custodial agent, to ensure the goods are nottampered with or stolen after being packed into the container, but before loading ontothe vessel or truck.

The method of transport is also crucial to an effective Trade Finance transaction. Seafreight has the advantage of the secure Bill of Lading process, is cost effective and thegoods can easily be monitored in transit on the shipping company website or throughthe International Maritime Organisation (IMO). Air freight has the advantage of speedand generally has a lower level of loss and damage, however there is not the samecontrol over the goods afforded by a Bill of Lading. Shipment by road, including RoRoarrangements, has the most complete delivery arrangements but carries greater risksof pilferage and lack of control.

Marine Insurance will mitigate the risk of loss in most cases, but a good Financier willensure that the policy covers the goods – and most importantly – that the cover iseffective from receipt of the goods from the supplier until received by the end buyer.It will be even more useful if the policy covers goods which have to be repossessedunder a ‘retention of title’ clause, or where goods are held in the client’s warehouse fora period before final delivery to the buyer. The form of marine policy best suited forthis is the Stock Throughput wording, and should include both buyer and sellerinterest clauses. To protect the Financier, the goods are also covered by the supplier’sor client’s insurance. Many Trade Finance Houses will also hold their own insurancecover to protect them in the event that the client’s arrangements are ineffective.

One advantage of using either Letters of Credit or credit insured accounts is thatadditional cashflow may be generated. For example, providing a Letter of Credit tothe supplier may enable extended credit to be negotiated, perhaps 30, 60 or even 90days after shipment. This may well coincide with the time the end buyer is due to pay,greatly alleviating the cash flow impact and saving in interest expenses. Similarly,credit may be made available to the end buyer, for which they are prepared to pay a

Trade Finance

71

better price. Negotiations about extended terms remove the sales negotiation from asimple price discussion, and typically lead to lower discounts.

With regard to pricing, most Trade Finance Houses charge for the facility in two ways:a fee for the risk; and a fee for the finance advanced. Both are charged on a time basis.The risk fee is usually incurred from the date the Financier goes on risk, e.g. when itraises an LC to the supplier or when it unconditionally accepts to pay the supplier.The finance charge or interest is incurred once the Financier pays monies away. SomeTrade Finance Houses charge a single fee encompassing both risk and interest costs.Additionally, some charge a fee for factoring the debt from the end buyer, in additionto the risk fee and interest. These charges can add up, so a sensible borrower willendeavour to calculate the real cost of the transaction before committing.

The Financier rarely charges for credit insurance as this has implications underFinancial Services law, but most will seek reimbursement for any externaldisbursements it might incur. These would include: bank charges, LC costs, creditinformation, payment fees, inspection fees.

A good Trade Finance House will endeavour to finance all the costs associated withthe trade transaction. This is for two reasons : firstly, it ensures there is sufficient cashto fund all the various costs and thus reduces the risk of something going wrong; andsecondly, the Financier is able to increase the total lend it makes, enhancing its income.Not all clients need everything funded, but knowing the cash is available if needed isa good safety net. These additional costs could include: freight; port clearance fees;inland transport and delivery charges; inspection and documentation costs; customsduty and excise; import VAT; bank guarantees.


72

Trade Finance – The Process

• Client gets committed order from customer• Client identifies supplier who can provide the goods requiredunder customer order

• Trade Financier enters into Trade Finance Facility with client

• Trade Financier places order on supplier, providing letter of creditif necessary

• Trade Financier obtains purchase order from customer confirmingcustomer will pay finance house for the goods on delivery and thatthe order is valid and non cancellable

• Supplier delivers goods, normally invoicing Trade Financier• Trade Financier pays supplier in accordance with credit terms• Trade Financier invoices client for goods

• Client invoices customer on delivery• Customer pays Trade Financier• Trade Financier repays client its profit after deducting cost of goodspurchased and its fees

The best way to understand the benefits and challenges of Trade Finance is byreviewing real examples. Below are two case studies which illustrate what can beachieved to grow a client’s business.

Trade Finance

73

Set Up

Pre- Shipment

Delivery

Payment

Case Study 1. Steel Stockholder• Client is a steel mesh supplier with a turnover of approximately £10m. It

has a full order book but due to the strict credit terms in the steel supplysector (LC, Cash in Advance or Credit Insured Open Account) it wasunable to secure supply for all the business available.

• A facility for £3m was established which provided LCs to supplier overseaswith an import loan, secured against the credit insured receivables of theend customers and the order book.

• The client turns the facility over every two to three months and haseffectively doubled its turnover in twelve months.

• In addition, providing a Letter of Credit to the supplier has achieved abetter purchase price and more economic shipment quantities,contributing to a better margin.

Case Study 2. Supply of Secondhand PET Moulding Equipment• Client is a broker specialising in the resale of used injection moulding

equipment throughout the world. Being a small business its balance sheet isnot strong enough to support purchase of the goods on credit and in mostcases the supplier requires payment when the equipment is dismantled.

• A facility for £500k was established which provided payment to the varioussuppliers on collection. The risk of non-acceptance was covered byrequiring the end customer to inspect the equipment in situ beforepayment was made to supplier.

• The facility bridges the time between inspection and payment to thesupplier and subsequent shipment and repayment by end buyer on LCterms 45-60 days later. The time taken dismantling the equipment andarranging shipping gives rise to the bridge period.

• The client has completed a number of transactions re-establishing itselfas a player in the industry as a principal not a broker.

In conclusion, Trade Finance can offer a solution to companies who have insufficientresources to finance the order. This may be complimentary to existing bank facilitiesor in replacement of them. It is not a panacea for every client but is a useful tool wherethere is a confirmed order for finished goods. Moreover Trade Finance is flexible andscalable and truly funds the supply chain where traditional banking products simplycan’t provide a complete solution.


74

An Introduction to Trade Finance

Trade Finance instruments are used all over the world and the most common exampleof this would be the standard Bank Letter of Credit. Basically, Trade Finance allowsthe purchaser of a product to provide a guarantee to the manufacturer or supplier ofthe product that they will be paid once the goods have been shipped and/or receivedat the point of delivery.

Trade Finance is often utilised along with factoring or invoice discounting and iseffectively finance to assist a company in paying for goods and help with cash flow.There are many specialist companies in the marketplace, such as the large high streetbanks and many factoring and invoice discounting companies have a specialist TradeFinance Division which will be linked in with the factoring and invoice discountingfacilities that they are already providing.

In many cases credit insurance will be required to ensure that should there be anyproblem with the goods on arrival, or a delay, or the goods are damaged or lost duringtransit, that the Trade Finance House would be guaranteed to receive back the moniesthat it has advanced.

Trade credit insurance can be expensive and often relies upon the credit rating of themanufacturer, supplier or agent concerned, so in some cases it can be difficult toobtain. However, the Trade Finance House may structure a particular deal where thegoods are checked on site and a part payment is made, and then the goods are checkedagain on delivery and the remainder of the funds are released.

In many cases the Trade Finance House will effectively take ownership of the goodsfor the period of time that they are advancing the money. When the goods arereceived, checked and delivered, they will then release title, deducting interest andcharges accordingly.

The combination of utilising a trade finance facility and mixing this with a factoringor invoice discounting facility can make for a very powerful cash flow solution for acommercial business that is either importing or exporting. Problems in the past haveoccurred with issues arising from the credit insurance having been reduced orwithdrawn due to market conditions, and a few years back there were a number ofinstances where some of the larger credit insurance houses pulled out of the marketaltogether.

There are today quite a number of participating insurers and the best method ofputting together a package is to approach the Trade Finance House direct: they willarrange for the funding facility and also the insurance.

75

Set up properly, a trade finance facility can really enhance a company’s ability toincrease its turnover levels and profitability. Undoubtedly, the key to this facilityworking is the quality of the goods being provided – it is therefore necessary to ensurethat at all stages the safety and integrity of the goods are monitored rigorously, so thaton receipt, there are no problems with quality or the need to return the goods.

It is very important that both the buyer and the seller are fully conversant with theconditions of the Trade Finance contract and know precisely what the penalties arein the event of a problem or delays in repayment of the facility. If this facility is usedeffectively, it is an excellent way of addressing cash flow problems and as a result,increasing profitability.


76

Trade Finance Directory

77



020 79078000



0845 6038050



0800 0154242



International Department,Churchill Plaza, Churchill Way,Basingstoke, Hants, RG21 7GP

0845 9000600


Bibby Financial Services200 Aldersgate Street, London,EC1A 4HD

0800 91 9592




020 76180000


Conance LtdHatherley House, 15-17 WoodStreet, Barnet, Herts, EN5 4AT

020 84494141



020 74108000



020 71844100


Euler Hermes UK andIreland

Head Office, 1 Canada Square,Canary Wharf, London, E14 5DX

020 75129333


FIMBANK PLCLondon Representative Office, 11Ironmonger Lane, London, EC2V 8EY

020 77100030

http://www.fimbank.com [email protected]


0161 2362122




01491 576008


Javelin VenturesLimited

46 Dorset Street, London, W1 7NB

020 74867456

http://www.javelin-ventures.com [email protected]

Legion Trade FinanceLtd

44 Bell Street, Henley-on-Thames,Oxon, RG9 2BG

09491 877234



01273 716200




0800 1694356







http://www.blme.com

http://www.conance.co.uk



http://www.eulerhermes.co.uk

http://www.fimbank.com



http://www.javelin-ventures.com

http://www.legiontradefinance.com




78


Overseas Trade FinanceMarble Arch Tower, 55 BryanstonStreet, London, W1H 7AJ

020 77237011



0845 4502220


Santander TradeFinance


07920 504678

http://www.santandercb.co.uk

Sterling Trade FinanceLtd

49 Berkeley Square, London, W1J 5AZ

020 78788934




020 76349851


TradeRiver Finance LtdGolden Cross House, 8Duncannon Street, London,WC2N 4JF

020 77887690


UBL Trade Finance 2 Brook Street, London, W1S 1BQ020 72908034




0845 7034567


http://www.oftonline.co.uk



http://www.sterlingtradefinance.com


http://www.traderiverfinance.com



Short term, interim finance for an individual or business untilpermanent, or the next stage of financing can be obtained.

Bridging Finance

An Introduction to Bridging Finance

Bridging finance is a very well-established and well-known form of finance facility. Itis normally utilised for the property and land acquisition marketplace where fundsare required for a very short period of time to bridge the gap between the placementof a deposit and securing a mortgage facility.

Typically a bridging finance facility will be put in place for a period of between threeto six months and in very extreme circumstances, up to a year. Charges tend to varyconsiderably and it is without doubt a very expensive facility, normally attractingbetween 1.5% and 3% per month in interest, plus facility charges and take on fees.

There are usually two types of facility: one which is referred to as an ‘open bridge’, andthe other as a ‘closed bridge’. The difference between the two is that with the closedbridge, repayments or the sale of a property have already been agreed through a thirdparty, thus guaranteeing the repayment of the loan.

Whilst this facility is a very flexible form of finance it attracts severe penalties if theterm of lending is exceeded and in the event of default, the interest rate charged on amonthly basis rises exponentially.

Normally the amount of the facility will be expressed as a percentage of either themarket rate or a forced sale rate. With the forced sale rate this can be based on a 90-day auction value of the property which is significantly below what the market ratewould be.

There can also be early repayment charges of around 1% so it is important to ensurethat you get right the period of time that you require the facility for.

Bridging finance houses can normally react very quickly to provide the funds required,which is especially useful in the case where you are looking to acquire property in anauction environment. Facilities can be pre-agreed, thus allowing the purchaser to workwithin a given budget.

It is very important to note that these facilities are for short-term use only and ifentered into they can prove to be totally unsuitable for medium or long-termrequirements because of the high costs involved.

81

Bridging Finance Directory

83


Affirmative Finance7-9 St. James Square, Manchester,M2 6XX

0870 1123111


Alternative BridgingCorporation

Fairchild House, RedbournAvenue, London, N3 2BP

0845 2622222


AToMAToM House, 24 Carfax, Horsham,West Sussex, RH12 1EB

0140 3272625

http://www.atomltd.co.uk [email protected]


0845 6038050


Barton Bridging CapitalPrince of Wales House, 3Bluecoats Avenue, Hertford, SG14 1PB

0844 5689888


Belgravia PropertyFinance

34 Buckingham Palace Road,London, SW1W 0RE

020 36515053


Bespoke BridgingFinance Ltd

PO Box 62, Stanmore, Middlesex,HA7 3QB

020 89543484

http://www.bespokeloans.com [email protected]

Bishopsgate FundingLtd

The Tower Business Centre,Portland Tower, Portland Street,Manchester, M1 3LD

0161 2735188



0161 9337050


BLGOne Crown Square, Woking,Surrey, GU21 6HR

0845 4656500


BM Samuels314 Regents Park Road, Finchley,London, N3 2JX

020 83499090

http://www.bmsamuels.com [email protected]

Bridgebank Capital1 Riverview, The EmbankmentBusiness Park, Heaton Mersey,Cheshire, SK4 3GN

0808 2222211


Bridging FinanceLimited

Lake View, Lakeside, Cheadle, SK8 3GW

0161 333195507778 970694


Bridging FinanceSolutions

86-88 Wallasey Road, WallaseyRoad, Wirral, Cheshire, CH44 2AE

0151 6397554

http://www.bridgingfinance-solutions.co.ukinfo@bridgingfinance-solutions.co.uk

Bridging Loans Ltd65 Bath Street, 1st Floor (right),Glasgow, G2 2BX

0141 3328884


Brightstar FinancialThe Hub, Unit 7, Lake MeadowsBusiness Park, WoodbrookCrescent, Billericay, CM12 0EQ

01277500900


Brooklin Partnership plcTopoco House, Shady Lane,Bromley Cross, Bolton, B67 9AF

01204 600690


Capital BridgingFinance Ltd

Grafton House, 2-3 GoldenSquare, London, W1F 9HR

0203 5405120


http://www.affirmativefinance.co.uk

http://www.alternativebridging.co.uk

http://www.atomltd.co.uk


http://www.bartonbridging.com

http://www.belgraviacommercial.co.uk

http://www.bespokeloans.com

http://www.bishopsgatefunding.com



http://www.bmsamuels.com

http://www.bridgebankcapital.co.uk

http://www.bridgingfinance.co.uk

http://www.bridgingfinance-solutions.co.uk

http://www.bridgingloansltd.co.uk

http://www.brightstarfinancial.net

http://www.brooklinpartnership.com

http://www.cbfl.co.uk


84


Central Bridging LoansGranary Wharf, Wharf Road,Burton-on-Trent, Derbyshire, DE14 1DU

03332 400506


Century Capital13 Albermarle Street, London,W1S 4HJ

020 74959191



Charleston House, 13 High Street,Hemel Hempstead, Herts, HP13AA

01442 8177180207 6552288



10 Crown Place, London, EC2A 4FT

020 76553655




0845 0345130


Consulco Finance32 Curzon Street, London, W1J 7WS

020 84437015


Credit and MercantileMercantile House, The Grange,Market Square, Westerham, Kent,TN16 1HB

01959567190


Crystal Mortgages66 Lysways Street, Walsall, WestMidlands, WS1 3AA

01922 722008


Dancastle Finance1 Dancastle Court, ArcadiaAvenue, London, N3 2JU

0800 3432728

http://www.dancastlegroup.com

Development FinanceLtd

1st floor (right), 65 Bath Street,Glasgow, G2 2BX

0141 3328884


Dragonfly PropertyFinance

20 Old Bailey, London, EC4M 7AN080 02946850

http://www.dragonflyfinance.com


01493 856069


FBSE Finance LimitedGround Floor, Regent House,Theobald Street, Borehamwood,WD6 4RS

0845 2603366

http://www.fbsefinance.com

Fincorp58 Acacia Road, London, NW8 6AG

020 77227547


First MerchantFirst Merchant House, 116 LondonRoad, Kingston upon Thames,Surrey, KT2 6QJ

020 85470180


First4BridgingAtruim Court, The Ring, Bracknell,RG12 1BW

0844 5007777


Flexible Finance UK Ltd Risca Road, Newport, NP20 4HY016 33841328


Glenmore Capital LtdThird Floor, 38 Wigmore Street,London, W1U 2RU

020 79350100



0161 2362122


Goldentree FinancialServices plc

56-58 Benson Road, Birchwood,Warrington, WA3 7PQ

01925 846420



0800 7797097



01329 234294


http://www.centralbridgingloans.co.uk

http://www.centurycapital.co.uk




http://www.consulcofinance.com

http://www.creditmercantile.co.uk

http://www.crystalmortgages.com


http://www.developmentfinanceltd.co.uk




http://www.fincorp.co.uk

http://www.firstmerchant.co.uk

http://www.first4bridging.co.uk

http://www.flexiblefinanceuk.co.uk

http://www.glenmorecapital.co.uk


http://www.goldentreefs.co.uk



Bridging Finance

85



01254 685858


Hope CapitalSwitch House, Northern PerimeterRoad, Liverpool, L30 7PT

0845 4940708


Hoskyn Child BridgingCrown House, Home Gardens,Dartford, DA1 1DZ

01322 424594


Intelligent LoansHouse 1, The Maltings, East TyndallStreet, Cardiff Bay, CF24 5EA

0845 2637350


Jumbo Bridging145-157 St. John Street, London,EC1V 4PW

0844 3576095


KIS Bridging LoansWentwood Cwrt, Usk,Monmouthshire, NP15 1LF

080 06446555




0161 9337097


Lowry CapitalManchester International OfficeCentre, Styal Road, Manchester, M22 5WB

0161 4997912


MasthavenMimosa House, 12 Princes Street,London, W1B 2LL

020 70362000


Mayfair Bridging9 Riversway Business Village,Navigation Way, Preston, PR2 2YP

01772 788888


Mint Bridging LtdPeel House, 30 The Downs,Altrincham, Cheshire, WA14 2PX

0844 4156500


Montello BridgingFinance

4 Bentinck Street, London, W1U 2EF0800 1303388

http://www.montello.co.uk

MT Finance11 Weymouth Street, London, W1W 6DD

020 72862837



0121 2011746 020 37018000


Oakbridge FinancialServices

3rd Floor, 94-96 Wigmore Street,London, W1U 3RF

0845 2050505


Omni CapitalOak House, Reeds Crescent, Watford,Hertfordshire, WD17 4QP

0333 2401792


Peninsula Finance plc26 Lockyer Street, Plymouth, Devon,PL1 2QW

01752 292568


Pink Pig Loans70 High Street, Barry, Vale ofGlamorgan, CF62 7DW

0800 0353735


Portman BridgingFinance

116 West Heath Road, London, NW3 7TU

020 82093822


Positive CommercialFinance

Warth Business Centre, WarthIndustrial Park, Warth Road, Bury, BL9 9NB

0161 7630321

http://www.positivecommercialfinance.co.ukinfo@positivecommercialfinance.co.uk


0800 1164385



020 85921414





http://www.hope-capital.co.uk

http://www.hoskynchildbridging.co.uk

http://www.intelligent-loans.com

http://www.jumbobridging.co.uk

http://www.kisbridgingloans.co.uk


http://www.lowrycapital.co.uk

http://www.masthaven.co.uk

http://www.mayfairbridging.com

http://www.mintbridging.co.uk


http://www.mt-finance.com


http://www.oakbridge.co.uk

http://www.omnicapital.co.uk


http://www.pinkpigloans.co.uk

http://www.portmanfinance.co.uk

http://www.positivecommercialfinance.co.uk





86





Secured BridgingFinance

Challoner House, 19 ClerkenwellClose, London, EC1R 0RR

033 34444321


Shawbrook BankLutea House, The Drive, GreatWarley, Brentwood, Essex, CM13 3BE

01277 751110


Sigma8Grosvenor House, 66-67 AtholStreet, Douglas, Isle of Man, IM1 1JE

01624 675610


Supreme InternationalFinance Ltd

City House, 58 Swan Street,Manchester, M4 5JU

0161 8342288


Swift Bridging Finance1 Berkeley Street, London, W1J8DJ

0800 262135


Tower Bridging LtdBell House, Swan Street, SibleHedingham, Essex, CO9 3RE

01787 469936





Voltaire Bridging4th Floor, 73 Brook Street,Mayfair, London, W1K 4HX

020 71821740


West One Loans3 Penta Court, Station Road,Borehamwood, Hertfordshire,WD6 1SL

0333 1234556



http://www.sbfinvestments.com


http://www.sigma-8.com

http://www.supremefinance.co.uk

http://www.swiftbridging.com

http://www.towerbridging.com


http://www.voltairebridging.com

http://www.westoneloans.co.uk

The process of raising capital through the sale of shares in anenterprise.

Equity Funding


88

INVOICE FINANCE//STOCK//P&M//TRADE//PROPERTY

You build the business. We’ll build the confidence.

�e flexibility and expertise of an independent, together with the strength and extended product range of its parent, Bank Leumi (UK) plc,

make a winning combination. Specialising in structured ABL facilities up to £25m with exceptional levels of client service.

� � � � �

£7m ABL facility including CID, P&M, cashflow loan + funding

from Bank Leumi (UK)

£20m package including CID facility + finance

from Bank Leumi (UK)

Alternative Financing for Growing BusinessesBy Phil Woodward, Managing Director, Leumi ABL

IntroductionIn this section, we consider Asset Based Lending (ABL) as a flexible alternativefinancing solution, and assess the role and partnering of the Asset Based Lendingfacility with Venture Capital (VC) orientated projects.

Leumi ABL is a Member of the British Private Equity and Venture Capital Association(BVCA) and has much experience in assisting the professional community and itsclients across a diverse range of sectors. They enjoy a well established reputation indeal-making communities across the UK and continue to win the title of UK ABL ofthe Year in Industry awards, both nationally and regionally.

The ABL Approach...With some healthy indicators of economic recovery, many businesses are turning toalternative forms of business finance to fuel new and sustained growth. In the questfor flexible and accessible funding, the popularity of Asset Based Lending continuesto grow as a viable and robust alternative form of financing.

Businesses are looking to leverage their assets more to maximise funding and bothbusinesses and their professional advisors now regard ABL as an attractive propositionto assist business growth.

ABL can deliver much needed flexibility in a variety of business scenarios. InvoiceFinance is widely used as an effective way to improve cashflow and by utilising a rangeof assets including stock, plant and machinery, clients are able to maximise theirfunding lines.

89

As business owners assess their balance sheets and look to other assets to raise businessfinance, ABL stands out as a funding tool that can deliver sophisticated solutions fora variety of scenarios, including improving existing working capital, financing growth,restructuring, funding an MBO (Management Buy Out) /MBI (Management Buy In)or facilitating M&A (Merger & Acquisition) plans. In addition, an ABL propositionis well suited to a wide variety of business sectors, including any sort of manufacturing,haulage, recruitment, wholesale, distribution or engineering.

With the message that interest rates look set to be maintained at record low levels forsome time, there is a new mood of optimism and certainty amongst businesses, whichencourages additional borrowing and investment. However, as we come out ofrecession, businesses face new challenges. All too often, cash issues can trigger overtrading, causing some businesses to have potential cash flow problems. ABL isrecognised as a way to deliver flexibility and strength – often working hand in handwith Private Equity (PE), thereby minimising the cash flow pressures.

Advisors can provide the financial direction to help businesses and prevent over tradingand this is an area where Asset Based Lenders operating in the mid-corporate marketsuch as Leumi ABL are seeing new levels of activity. ABL’s – such as the Leumi team –aim to work closely with the PE and advisory community as they are well placed tosupport the growing number of deal opportunities as the UK economy recovers.

The £20m multi facility deal that Leumi ABL completed recently was a refinance of aPrivate Equity portfolio business looking for a more flexible funding package tosupport growth and potential acquisition opportunities. This provides an interestingexample of how Leumi ABL and Bank Leumi UK together were able to structure thelevel of support required – you can read more details in the client case study.

The benefits of Asset Based Lending and Venture Capitalworking together…Whilst there are clear benefits for many businesses to have ABL and VC workingtogether, there are some important points to note if the business is to get the best fromthe new financing arrangement. Consider the areas listed below:

• It is important to involve the ABL party as early as possible, both at the VCand client/portfolio management level. This entails the ABL visiting andunderstanding the business early on, not simply assuming that the ABL justprovides funding structures against assets. It may be a common perceptionthat ABL is formulaic, however the better ABL’s do put good emphasis onclient company management and this involves building strong relationshipsfrom the outset.


90

• Involve the ABL in the funding assumptions when doing financial models sothat funding structures are properly and accurately reflected in these models.This makes for better analysis for VC investment and ABL credit decisions.

• Resist the temptation to make it a beauty parade to prescribed criteria, as thismay prevent those parties involved thoroughly understanding theproposition. Encourage questions, challenges and ensure objectives are clearlyaligned, with expectations clearly communicated and understood by all.

• Take care not just to meet the sales people. This is an ongoing relationship soensure you meet the ABL Operational Team as well as the Client Managerwho will oversee the facility. Also try to meet the ABL Directors to ensurethey share the vision too and embody the sort of values and client serviceethos that are essential to a successful new business funding arrangement. It’simportant to know that you have direct access to the decision makers. Allparties need to work together constructively as your business grows.

• Regard the ABL party as a partner, not just a supplier, in the process. Thiswill mean involving the key players in dialogue and keeping strong and openlines of communication in place. Raise any issues early so that appropriateaction may be taken.

• Share the vision and investment strategy of the VC both on a “macro” fundsbasis and on a more “micro” specific deal basis. This will help the ABLunderstand the key thought processes of the VC. Try to understand theirmotivations – for example, what is the hold and exit strategy of the VC ?

• Ensure there is plenty of headroom built in. Do not use ABL as a puresubstitute for enough capital. M&A transactions need headroom as thisprovides management with breathing space to manage effectively, plan aheadand make well considered choices.

• Try not to be driven by price – whilst price is important, it is not theoverruling factor. This is primarily about creating the optimum long termfinancing solution for the business to prosper and achieve its growthambitions. Take a holistic view and choose an ABL who has taken the time totruly understand the business, modelled structures that support the strategicplan, and really got to know the senior team and their aspirations.

• Businesses should look for funding providers with a solid track record whocan demonstrate excellent client relationship management and supportthroughout the client’s growth.

• Brief lawyers not only on what the desired outcome is from a legal perspective,but also brief them on ABL. This is important because ABL methodology andlegal documentation is different from that of Senior Debt. Understandingthese differences is key to saving time and legal cost

Equity Funding

91

• Consider carefully how the ABL provider is chosen. This is an importantbusiness decision that is critical to both current and future liquidity and thesuccessful growth of the business. In the case of Leumi ABL, we look forbusinesses that are solid and want to grow – with a funder working closelywith them – throughout their business development. Good ABL providerswill take a long term view and leverage the value of their clients’ businessassets, structuring the funding facility to suit the exact business needs of theclient so as to maximise liquidity.

• In those cases where speed is of the essence, it is important that businessesselect a Financing Partner who has the ability to move quickly. Short decisionmaking lines, fast credit approvals and continuing involvement of the seniorteam throughout the relationship, all point to an ABL provider who isprepared to pull out all the stops to structure the deal quickly.

Ultimately it’s all about fostering excellent relationships. All parties to the deal mustbe able to build trust, truly understand the client’s business strategy and haveconfidence in the client’s long term business potential. This will facilitate a speedy,smooth and straightforward deal process for the right opportunities.

Client case study: Bromford IndustriesLeumi ABL and Bank Leumi (UK) plc have worked together to provide a flexiblefinance package to Birmingham-headquartered Bromford Industries. BromfordIndustries specialises in precision engineered components for the aerospace andindustrial power sectors.

This deal was a refinance of a Private Equity portfolio business looking for a moreflexible funding package to support growth and potential acquisition opportunities.The total funding facility of £20m included Invoice Discounting, Stock Finance, aPlant & Machinery facility, and a Cashflow Line from Bank Leumi (UK).

Provision of the facility required a detailed understanding of the aerospace sector andits buying patterns. The Leumi ABL team worked closely with the management teamof Bromford Industries through an involved diligence, refinancing and legal processto ensure that the facility met all future working capital requirements.

Bromford Industries commented: “Since the company was acquired in 2009 we havecontinued the transition of the business, improved its image and reputation andresponded to ever changing business demands. As we enter the next phase of our


92

development it is essential the business is structured so as to take best advantage offuture opportunities and one of the key considerations was our debt facilities.

“This is a significant opportunity for both Bromford Industries and Leumi ABL, andfurther supports and underpins our desire to be the manufacturer of choice to ourcustomers, whilst showing our continued commitment to invest in technology whichallows us to operate in a global arena. Leumi ABL has shown a desire to work veryclosely with our team and I look forward to building our working relationship andthe opportunities that this will bring in the future.”

Martin Risman, Leumi ABL Regional Sales Director, added: “Leumi ABL is delightedto provide a £20 million Senior Debt and Asset Based Lending package that facilitatesthe specific working capital requirements and supports the growth aspirations ofBromford Industries. We recognise that a business of the quality and reputation ofBromford needs a commercial and responsive funding partner with detailed sectorknowledge. We very much look forward to working with their highly committedmanagement team to achieve their goals in the future.”

About Leumi ABLLeumi ABL offers a full Asset Based Lending capability to growing businesses.We provide working capital solutions by funding against invoices, stock, plant& machinery and amortising over advances, plus Trade and Property Financevia Bank Leumi (UK) plc. We provide funding lines of up to £25m and havebuilt a strong reputation for our flexible and personal approach, winning anumber of national ABL awards.

Our specialist division, Leumi Invoice Finance, offers flexible Factoring andInvoice Discounting services which will boost cashflow for new start andgrowing businesses requiring up to £2m funding. Our bad debt protectionservice offers additional peace of mind.

Equity Funding

93

Contact detailsPhil Woodward, Managing Director, Leumi ABL Limited

Email: [email protected]: 01273 716200Mob: 07900 802774Fax: 01273 716210http://www.leumiabl.co.uk

Leumi ABL Limited126 Dyke Road Brighton East SussexBN1 3TE


94


An Introduction to Equity Funding

Raising funding for a business utilising Equity Funding, or if you prefer – the sellingof a proportion of the company’s ordinary shares – is a well tried and tested method.The amount required and indeed the size of the company concerned will ultimatelydictate the amount of equity that will have to be forfeited in exchange for the requiredfunds.

If you’re a small company seeking relatively low levels of funding, it can prove to bequite expensive in terms of the amount of shares (equity) that you will have to giveaway to raise the money, and in most cases the proportion of shares offered up will becalculated on the perceived and actual value of your company. So, in other words, theless valuable your company, the more equity you will have to give up.

For the middle or larger sized company, issuing equity to fund growth or the takeoverof another business is a well-established practice. Listing the company on one of therecognised stock markets such as AIM or the Full Market will require the assistanceof a Nominated Adviser (NOMAD) and also a regulated broker. Both of these arehighly experienced and will be licensed to carry out the share issues and will assistwith identifying potential investors and the production of a prospectus or informationmemorandum. Such a flotation is very heavily regulated and normally quite costly toinstigate, therefore it is only usually undertaken to raise significant sums of moneyfor the business.

In the case of a flotation, monies can also be raised prior to the flotation and theseare referred to normally as pre-IPO funds. Special conditions are attached to thesepre-IPO funds and allow for additional returns for the funder to reflect the level ofrisk that is involved if the flotation does not go ahead.

For the smaller company there are lesser markets which are equally less regulatedfrom which smaller sums can be raised, and the cost of doing so is much less thangoing for a main market flotation.

A private placement or funds coming from individual investors without a flotationtaking place can often keep costs down. The most regular form of equity investmenttends to come from a number of different sources which include: venture capitalhouses; investment trusts; investment consortiums; or high net worth individuals. Inmany cases these types of investment will utilise a mixture of debt and equity fundingwhere the debt is repaid over a fixed amount of time with the capital sum payable atthe end of the loan facility and interest being paid on a quarterly or annual basis.

95

Venture capital and private investment has become much more widely available andthe level of equity demanded has always been reflected in the perceived risk or upsidethat the equity investor can expect.

The issuing of new shares is also a mechanism by which a company can look to raisefunds to buy out other organisations, and it is quite a usual practice for a companyseeking to acquire a competitor to offer up a proportion of its own shares as paymentfor the acquisition.

There are various classes of equity shares that can be put into play and these includeanything from preference shares, through to preferred ordinary shares and manyvariances of the same. It is absolutely essential for the business intent on raising fundsvia equity investment to take detailed professional advice from specialist accountantsand lawyers; and the issue of valuation should be addressed right at the beginning toensure that the level of equity funding sought can be raised against a reasonable levelof equity shares to be sold.

It is a general rule of thumb that the earlier a company seeks equity investment, themore costly it will be, given that the value of a company at an early stage is generallyquite low. However, in the case of an innovative product or similar it can very muchbe the case that a venture capital house or other equity investors will consider investinglarge sums of money for a relatively small proportion of equity, gambling on the factthat the product and the company will become extremely valuable over time.

Equity investment is not to be taken lightly because you are effectively giving away(selling) part of your company. Throughout the lifespan of a company it is often thecase that you can borrow and repay money many times over during a period of thecompany’s growth, however once you’ve given away shares in your business and soldyour equity it is very difficult to undo that action.


96

Equity Funding Directory

97


3i16 Palace Street, London, SW1E 5JD

020 79753131

http://www.3i.com

AAC Capital Partners7 Stratford Place, London, W1C 1AU

020 35744078

http://www.aaccapitaluk.com

Aberdeen AssetManagement PLC

Bow Bells House, 1 Bread Street,London, EC4M 9HH

020 74636000

http://www.aberdeen-asset.co.uk

Abingworth LLPPrinces House, 38 Jermyn Street,London, SW1Y 6DN

020 75341500


Accel16 St. James's Street, London, SW1 1ER

020 71701000


Acorn Capital PartnersMetropolitan House, Station Road,Cheadle Hume, Stockport, SK8 7AZ

0161 4856444


ACT Venture CapitalLtd

Richview Office Park, Clonskeagh,Dublin 14, Ireland

00353 1260 0966


Active Private EquityAdvisory LLP

2nd Floor, 6 Burnsall Street,London, SW3 3ST

020 70428200


Adams Street PartnersUK LLP

4th Floor, 75 Davies Street,London, W1K 5JN

020 76597700


Advent InternationalPLC

111 Buckingham Palace Road,London, SW1W 6LD

020 73330800


Advent VenturePartners

158-160 North Gower Street,London, NW1 2ND

020 79322100


African Venture CapitalAssociation

The Banking Hall, CropthorneCourt, 26 Maida Vale, London,W9 1RS

020 3620408


AGC Equity PartnersLtd

86 Jermyn Street, London, SW1Y 6JD

020 79593450


Albion Ventures LLP1 Kings Arms Yard, London, EC2R 7AF

020 76011850


Alchemy Partners LLP21 Palmer Street, London, SW1H OAD

020 72409596


Alliance FundManagers Limited

2nd Floor, Exchange Court, 1 DaleStreet, Liverpool, L2 2PP

0151 2364040


Altitude Partners LLPKenneth Dibben House, EnterpriseRoad, Southampton, SO16 7NS

023 80002030


http://www.3i.com



http://www.abingworth.com

http://www.accel.com

http://www.acorncapital.co.uk

http://www.actventure.com

http://www.apeq.co.uk

http://www.adamsstreetpartners.com

http://www.adventinternational.com

http://www.adventventures.com

http://www.avca-africa.org

http://www.agcequitypartners.com

http://www.albion-ventures.co.uk

http://www.alchemypartners.co.uk

http://www.afm.uk.com

http://www.altitudepartners.co.uk


98


Amadeus CapitalPartners Limited

16 St. James’s Street, London,SW1A 1ER

020 70246900


AnaCap FinancialPartners LLP

25 Beford Street, Covent Garden,London, WC2E 9ES

020 70705250


Apax Partners Ltd33 Jermyn Street, London, SW1Y 6DN

020 78726300


Apollo ManagementInternational LLP

25 St. George Street, London, W1S 1FS

020 33201554


Apposite Capital LtdBracken House, One Friday Street,London, EC4M 9JA

020 70906190


Arcapita Limited15 Sloane Square, London, SW1W 8ER

020 78245600


Arcis Capital Ltd 2 Savile Row, London, W1S 3PA020 74942110


Arle Capital Partners12 Charles II Street, London,SW1Y 4QU

020 79790000

http://www.arlecapitalpartners.com [email protected]

Asclepios Bioresearch(UK) Ltd

5th Floor, 10 Philpot Lane,London, EC3M 8AA

020 73985680


Assetz CapitalAssetz House, Newby Road,Stockport, SK7 5DA

020 78701023


Atlantic Bridge CapitalLLP

33 St. James Square, London,SW1Y 4JS

07793 372033


Augmentum Capital27 St. James's Place, London,SW1A 1NR

020 75141998


August Equity LLP10 Slingsby Place, St. Martin'sCourtyard, London, WC2E 9AB

020 76328200




01603 687596


AXA Private Equity UK1 Grafton Street, London, W1S 4FE

020 70031350

http://www.axaprivateequity.com

Azini Capital PartnersLLP

29 Farm Street, London, W1J 5RL020 31783388


Bain Capital LtdDevonshire House, Mayfair Place,London, W1J 8AJ

020 75145252

http://www.baincapital.co.uk

Baird Capital PartnersEurope

Mint House, 77 Mansell Street,London, E1 8AF

020 76678400

http://www.bairdcapital.com

Balderton CapitalManagement (UK) LLP

20 Balderton Street, London, W1K 6TL

020 70166800


Barclays Ventures7th Floor, UK House, 180 OxfordStreet, London, W1D 1EA

020 75994538


BC Partners Limited40 Portman Square, London, W1H 6DA

020 70094800


Beringea LLP39 Earlham Street, London, WC2H 9LT

020 78457820


Bestport Ventures LLP29 Gloucester Place, London,W1U 8HX

020 74872555


http://www.amadeuscapital.com

http://www.anacapfp.com

http://www.apax.com

http://www.agm.com

http://www.appositecapital.com

http://www.arcapita.com

http://www.arcisgroup.com

http://www.arlecapitalpartners.com

http://www.abioresearch.com

http://www.assetzcapital.co.uk

http://www.abven.com

http://www.augmentumcapital.com

http://www.augustequity.com



http://www.azini.com



http://www.balderton.com

http://www.barclaysventures.com

http://www.bcpartners.com

http://www.beringea.co.uk

http://www.bestport.co.uk

Equity Funding

99


Blackstone GroupInternational Ltd

40 Berkeley Square, London, W1J 5AL0207 4514000


Bloomberg VenturesCity Gate House, 39-45 FinsburySquare, London, EC2A 1PQ

020 32164455


Blue Gem CapitalPartners LLP

16 Berkeley Street, London, W1J 8DZ020 76479710


Bowmark Capital LLP3 St. James's Square, London, SW1Y 4JU

020 71899000


Braveheart VenturesThe Cherrybank Centre, CherrybankGardens, Perth, Perthshire, PH2 OPF

01738 587555


Bray Capital LtdSuite 9, Wilmslow House, Grove Way,Wilmslow, SK9 5AG

016 25469999


Bregal Capital LLPMichelin House, 81 Fulham Road,London, SW3 6RD

020 75914200


Bridgebank Capital1 Riverview, The Embankment BusinessPark, Heaton Mersey, Cheshire, SK4 3GN

0808 2222211


Bridgepoint 95 Wigmore Street, London, W1U 1FB020 70343500

http://www.bridgepoint.eu [email protected]

Bridges Ventures LLP 1 Craven Hill, London, W2 3EN020 72625566


British Gas VentureCapital

2nd Floor, Lakeside, 30 The Causeway,Staines, Middlesex, TW18 3BY

07557 612158


Business Growth Fund(BGF)

21 Palmer Street, London, SW1H 0AD0845 2668660


C5 Capital Ltd 53 Davies Street, London, W1K 5JH020 37097031


Cabot Square CapitalLLP

One Connaught Place, London, W2 2ET

020 75799320


Capital for EnterpriseLtd

1 Broadfield Close, Broadfield BusinessPark, Sheffield, S8 OXN

0114 2062131


Capital Group (CIPEF)40 Grosvenor Place, London, SW1X 7GG

020 78645596

http://www.capgroup.com

Carlyle GroupLansdowne House, 57 BerkeleySquare, London, W1J 6ER

020 78941200


Catapult Ventures1 Burrough Court, Burrough on theHill, Melton Mowbray, Leicestershire,LE14 2QS

0116 2388200


CBPE Capital 2 George Yard, London, EC3V 9DH020 70651100


Chamonix PrivateEquity

4 St. Paul's Churchyard, London, EC4M 8AY

020 73329550


Charterhouse CapitalPartners LLP

7th Floor, Warwick Court, PaternosterSquare, London, EC4M 7DX

020 73345300


http://www.blackstone.com

http://www.bloombergventures.com

http://www.bluegemcp.com

http://www.bowmark.com

http://www.braveheart-ventures.co.uk

http://www.braycapital.com

http://www.bregalcapital.com


http://www.bridgepoint.eu

http://www.bridgesventures.com

http://www.britishgas.co.uk

http://www.businessgrowthfund.co.uk

http://www.c5capital.co.uk

http://www.cabotsquare.com

http://www.capitalforenterprise.com


http://www.carlyle.com

http://www.catapult-vm.co.uk

http://www.cbpel.com

http://www.chamonixpe.com

http://www.charterhouse.co.uk


100


Chord Capital LimitedHarston Mill, Harston, Cambridge,Cambs, CB22 7GG

01223 875590


Chrysalis VCT PLCSuite 1, 46 Dorset Street, London,W1U 7NB

020 74867454


Cinven Partners LLPWarwick Court, Paternoster Square,London, EC4M 7AG

020 76613333

http://www.cinven.com [email protected]

Clarendon FundManagers Limited

8th Floor, City Exchange, 11-13Gloucester Street, Belfast, BT1 4LS

028 90326465


Clean WorldCapital(UK) Ltd

2nd Floor, 20 Orange Street, London,WC2H 7EF

020 73890819


Clifton CowleyVentures

24 Berkeley Square, Clifton, Bristol,BS8 1HP

0845 0268675


Connection Capital LLPIvybridge House, One Adam Street,London, WC2N 6AB

020 79682755


Core Capital LLP9 South Street, Mayfair, London, W1K 2AX

020 31790925


Cornhill Capital4th Floor, 18 St. Swithins Lane,London, EC4N 8AD

020 77109610


CVC Capital PartnersLimited

111 Strand, London, WC2R OAG020 74204200

http://www.cvc.com [email protected]

Darwin Private EquityLLP

15 Bedford Street, London, WC2E 9HE020 74200750


Dawn Capital LLP14 Buckingham Street, London, WC2N 6DF

020 78396682


Derbyshire FirstInvestments Limited

Bridge House, Riverside Village, HadyHill, Chesterfield, Derbyshire, S41 ODT

01246 207390

http://www.dfil.co.uk [email protected]

Dubai InternationalCapital

9th Floor, 21 Palmer Street, London,SW1H OAD

020 78081700

http://www.dubaiic.com [email protected]

Duke Street CapitalNations House, 103 Wigmore Street,London, W1U 1QS

020 76638500


Dunedin LLPSaltire House, 20 Castle Terrace,Edinburgh, EH1 2EN

0131 2256699

http://www.dunedin.com [email protected]

E-Synergy LimitedFleet House, 8-12 New Bridge Street,London, EC4V 6AL

020 75833503

http://www.e-synergy.com [email protected]

EC1 Capital LtdRainmaking Loft, International House,1 St. Katharine's Way, London, E1W 1UN


Edge InvestmentManagement Ltd

1 Marylebone High Street, London,W1U 4LZ

020 73171300


Elderstreet InvestmentsLimited

10-11 Charterhouse Square, London,EC1M 6EE

020 78315088


Electra Partners LLPPaternoster House, 1st Floor, 65 St.Paul's Churchyard, London, London,EC4M 8AB

020 72144200


Elysian Capital LLPIngram House, 15 John Adam Street,London, WC2N 6LU

020 79258050


http://www.chordcapital.co.uk

http://www.chrysalisvct.co.uk

http://www.cinven.com

http://www.clarendon-fm.co.uk

http://www.cleanworldcapital.com

http://www.cliftoncowley.com

http://www.connectioncapital.co.uk

http://www.core-cap.com

http://www.cornhillcapital.com

http://www.cvc.com

http://www.darwinpe.com

http://www.dawncapital.co.uk

http://www.dfil.co.uk

http://www.dubaiic.com

http://www.dukestreetcapital.com

http://www.dunedin.com

http://www.e-synergy.com

http://www.ec1capital.com

http://www.edge.uk.com

http://www.elderstreet.com

http://www.electrapartners.com

http://www.elysiancapital.com

Equity Funding

101


Enterprise Equity FundManagement (NI)Limited

78a Dublin Road, Belfast, N. Ireland,BT2 7HP

028 90242500

http://www.eeni.com [email protected]

Enterprise VenturesThe Pinnacle Building, 73/79 KingStreet, Manchester, M2 4NG

0845 0948886


Envestors LLP 1 Lancaster Place, London, WC2E 7ED020 72400202


EnvironmentalTechnologies Fund LP

20 Berkeley Square, London, W1J 6EQ020 73180700

http://www.etf.eu.com [email protected]

EPI-V LLP3rd Floor, Denman House, 120Piccadilly, London, W1J 0DG

020 77343689


EPIC Private EquityAudrey House, 16-20 Ely Place,London, EC1N 6SN

020 72698861


Equistone (UK) LLP4th Floor, Condor House, St.Paul'sChurchyard, London, EC4M 8AL

020 76535300


Equity Ventures Ltd11 Vittoria Walk, Cheltenham, GL50 1TL

01242575686


European Capital4th Floor, 25 Bedford Street, London,WC2E 9ES

020 75397000


Exponent Private EquityLLP

12 Henrietta Street, London, WC2E 8LH

020 78458520


FC Fund Managers68 Lemon Street, Truro, Cornwall, TR12PN

01872 272288


FF & P Private EquityLimited

15 Suffolk Street, London, SW1Y 4HG020 70365722


Fidelity Growth Partners 25 Cannon Street, London, EC4M 5TA020 70745610

http://www.fidelitygrowthpartners.com

Finance WalesInvestments Limited

3rd Floor Oakleigh House, Park Place,Cardiff, CF10 3DQ

0200 5874140


Flamingo SkyRaleigh Lodge, Station Road,Churchdown, Gloucestershire, GL3 2JU

020 87980974

http://www.flamingosky.com

Foresight GroupECA Court, South Park, Sevenoaks,Kent, TN13 1DU

01732 471800


Frog Capital Ltd1A Birkenhead Street, London, WC1H 8BA

020 78330555


FSE GroupRiverside House, 4 Meadows BusinessPark, Station Approach, Blackwater,Camberley, GU17 9AB

01276 608510

http://www.thefsegroup.com

Generation InvestmentManagement LLP

20 Air Street, London, W1B 5AN020 75344700


Goldman Sachs CapitalPartners

Peterborough Court, 133 Fleet Street,London, EC4A 2BB

020 77741000

http://www.gs.com

http://www.eeni.com

http://www.evgroup.uk.com

http://www.envestors.co.uk

http://www.etf.eu.com

http://www.epi-v.com

http://www.epicpe.com

http://www.equistonepe.com

http://www.equityventures.co.uk

http://www.europeancapital.com

http://www.exponentpe.com

http://www.fcfundmanagers.com

http://www.ffandppe.com


http://www.financewales.co.uk


http://www.foresightgroup.eu

http://www.frogcapital.com


http://www.generationim.com

http://www.gs.com


102


Graphite CapitalManagement LLP

Berkeley Square House, BerkeleySquare, London, W1J 6BQ

020 78255300


Greencoat CapitalGreencoat House, 15 Francis Street,London, SW1P 1DH

020 78329400


Growth CapitalPartners

2nd Floor, 112 Jermyn Street, London,SW1Y 6LS

020 70249800


H.I.G. Capital25 St. George Street, Mayfair, London,W1S 1FS

020 73185700

http://www.higcapital.com [email protected]

Hadleigh Partners18B Charles Street, Mayfair, London,W1J 5DU

020 73994250


HarbourVest Partners(U.K) Ltd

Berkeley Square House, 8th Floor, Suite7, Berkeley Square, London, W1J 6DB

020 73999820


Hayat Capital53 Davies Street, Mayfair, London,W1K 5JH

020 81441514

http://www.hayatcap.com [email protected]

Helios InvestmentPartners LLP

2nd Floor, 12 Charles II Street, St.James's, London, SW1Y 4QU

020 74847700


Henderson GlobalInvestors Ltd

201 Bishopsgate, London, EC2M 3AE020 78181818

http://www.henderson.com

Herald InvestmentManagement Limited

10-11 Charterhouse Square, London,EC1M 6EE

020 75536300

http://www.heralduk.com

Hermes Private EquityLloyds Chambers, 1 Portsoken Street,London, E1 8HZ

020 76803880


Hg Capital2 More London Riverside, London, SE1 2AP

020 70897888

http://www.hgcapital.com [email protected]

Horatio InvestmentsLandmark House, Wirral Park Road,Glastonbury, BA6 9FR

014 58832900


HSBC LeveragedFinance

Level 24, 8 Canada Square, London,E14 5HQ

020 79922606

http://www.hsbc.co.uk [email protected]

HSBC PrincipalInvestments

Level 23, 8 Canada Square, London,E14 5HQ

020 79913614


Iceni CapitalHillsdown House, 32 Hampstead HighStreet, London, NW3 1JQ

020 74350600


IK Investment PartnersLimited

Brettenham House, 5 Lancaster Place,London, WC2E 7EN

020 73044300

http://www.ikinvest.com [email protected]

Impax AssetManagement Limited

Norfolk House, 31 St. James's Square,London, SW1Y 4JR

020 74341122

http://www.impax.co.uk [email protected]

Inflexion Private Equity 9 Mandeville Place, London, W1U 3AY020 74879888

http://www.inflexion.com [email protected]

Ingenious VenturesLimited

15 Golden Square, London, W1F 9JG020 73194000


Intel Capitalc/o Intel Corporation (UK) Ltd,Carrington House, 126-130 RegentStreet, London, W1B 5SE

020 72928780

http://www.intelcapital.com [email protected]

http://www.graphitecapital.com

http://www.greencoat-capital.com

http://www.growthcapital.co.uk

http://www.higcapital.com

http://www.hadleighpartners.com

http://www.harbourvest.com

http://www.hayatcap.com

http://www.heliosllp.com



http://www.hermesgpe.com

http://www.hgcapital.com

http://www.horationinvestments.com

http://www.hsbc.co.uk

http://www.hsbcnet.com

http://www.icenicapital.com

http://www.ikinvest.com

http://www.impax.co.uk

http://www.inflexion.com

http://www.ingeniousmedia.co.uk

http://www.intelcapital.com

Equity Funding

103


Intermediate CapitalGroup PLC

Juxon House, 100 St. Paul’sChurchyard, London, EC4M 8BU

020 32017700

http://www.icgplc.com [email protected]




IQ Capital Partners LLP85 Regent Street, Cambridge, CB2 1AW

01223 345616


ISIS EP LLP2nd Floor, 100 Wood Street, London,EC2V 7AN

020 75065600


Isis Innovation LtdEwert House, Ewert Place,Summertown, Oxford, OX2 7SG

01865 280830


Kelso Place AssetManagement LLP

3-5 Barrett Street, St. Christopher'sPlace, London, W1U 1AY

020 78360000


Kings Park Capital1st Floor, 35-36 Great MarlboroughStreet, London, W1F 7JF

020 30043420


Koan Ventures3 Postmasters Lodge, Exchange Walk,London, HA5 5AD

020 8866142807725 207099


LDC One Vine Street, London, W1J OAH020 77583680

http://www.ldc.co.uk [email protected]

LGV CapitalOne Coleman Street, London, EC2R 5AA

020 31242900


Lion Capital21 Grosvenor Place, London, SW1X 7HF

020 72012200


London Seed CapitalLimited


020 70892338


Longbow Capital LLP19a Floral Street, Barnham Broom,Honingham Road, Norwich, NR9 4DD

01603757509


Ludgate InvestmentsLimited

1st Floor, 52 Jermyn Street, London,SW1Y 6LX

020 34781000

http://www.ludgate.com [email protected]

Lyceum Capital PartnersLLP

Burleigh House, 357 Strand, London,WC2R OHS

020 76322480


Marlin Equity PartnersLtd

85 Buckingham Gate, London, SW1E 6PD

020 36680022


Maven Capital PartnersFifth Floor, 1-2 Royal ExchangeBuildings, London, EC3V 3LF

020 31022750


Maven Ventures33 Glasshouse Street, London, W1B 5DG

020 31706116


Midven Ltd2nd Floor, Cavendish House, 39-41Waterloo Street, Birmingham, B2 5PP

012 17101990

http://www.midven.com [email protected]

MMC Ventures Ltd 2 Kensington Square, London, W8 5EP020 79382220


MML Capital PartnersLLP

Grand Buildings 1-3, Strand, London,WC2N 5HR

020 70242200


Montagu Private EquityLLP

2 More London Riverside, London, SE1 2AP

0207 3369955


http://www.icgplc.com


http://www.iqcapital.co.uk

http://www.isisep.com

http://www.isis-innovation.com

http://www.kelsoplace.com

http://www.kingsparkcapital.com

http://www.koanventures.co.uk

http://www.ldc.co.uk

http://www.lgvcapital.com

http://www.lioncapital.com

http://www.londonseedcapital.com

http://www.longbow.co.uk

http://www.ludgate.com

http://www.lyceumcapital.co.uk

http://www.marlinequity.com

http://www.mavencp.com

http://www.maven-ventures.com

http://www.midven.com

http://www.mmcventures.com

http://www.mmlcapital.com

http://www.montagu.com


104


Morgan Stanley PrivateEquity

20 Bank Street, Canary Wharf,London, E14 4AD

0207 4255000


Mosaic Private Equity 10th Floor, 3 Hardman Street,Spinningfields, Manchester, M3 3HF

0161 9321475

http://www.mosaicpe.com [email protected]


0121 2011746 020 37018000


NBGI Private Equity(National Bank ofGreece)

Old Change House, 128 QueenVictoria Street, London, EC4V 4BJ

020 76615678

http://www.nbgipe.co.uk [email protected]

Nesta Investments 1 Plough Place, London, EC4A 1DE020 74382500


Next Wave Partners 42 Wigmore Street, London, W1U 2RY020 30057544


Nomura Cleantech VCFund


020 75212000

http://www.nomura.com/europe

NorthEdge Capital LLPVantage Point, Hardman Street,Manchester, M3 3HF

0845 3409600


NorthStar Ventures5th Floor, Maybrook House, 27-35Grainger Street, Newcastle-upon-Tyne,NE1 5JE

0191 2292770


NVM Private EquityLimited

Rotterdam House, 116 Quayside,Newcastle upon Tyne, NE1 3DY

0191 2446000

http://www.nvm.co.uk [email protected]

Oakley Capital Ltd 3 Cadogan Gate, London, SW1X 0AS020 77666900


Octopus Ventures 20 Old Bailey, London, EC4M 7AN0800 3162349

http://www.octopusventures.com

Omers Private EquityUK Ltd

6 New Street Square, New Fetter Lane,London, EC4A 3BF

020 78228300


Oxford Capital Partners 201 Cumnor Hill, Oxford, OX2 9PJ01865 860760

http://www.oxcp.com [email protected]

Oxford Spin-Out EquityManagement LLP

Magdalen Centre, Robert RobinsonAvenue, Oxford Science Park, Oxford,OX4 4GA

01865784206


Pacific Investments PLC 124 Sloane Street, London, SW1X 9BY020 72252250


Palamon CapitalPartners LP

Cleveland House, 33 King Street,London, SW1Y 6RJ

020 77662000


Palatine Private EquityLLP

The Zenith Building, 26 SpringGardens, Manchester, M2 1AB

016 12144730


Panoramic GrowthEquity

1st Floor, 140 West George Street,Glasgow, G2 2HG

0141 3315100

http://www.pgequity.com [email protected]

Par Equity LLP3A Dublin Meuse, Edinburgh, EH3 6NW

013 15560044


Parallel Private EquityLLP

167-169 Wardour Street, London, W1F 8WR

020 74949074


Penta Capital LLP7th Floor, 90 Long Acre, London, WC2 9RA

0203 3260350



http://www.mosaicpe.com


http://www.nbgipe.co.uk

http://www.nesta.org.uk

http://www.nextwavepartners.co.uk


http://www.northedgecapital.com

http://www.northstarventures.co.uk

http://www.nvm.co.uk

http://www.oakleycapital.com


http://www.omerspe.com

http://www.oxcp.com

http://www.osem.ox.ac.uk

http://www.pacificinvestments.com

http://www.palamon.com

http://www.palatinepe.com

http://www.pgequity.com

http://www.parequity.com

http://www.parallelprivateequity.com

http://www.pentacapital.com

Equity Funding

105


Pentech Ventures One Alfred Place, London, WC1E 7EB020 31287473


Phoenix Equity Partners 25 Bedford Street, London, WC2E 9ES020 74346999


Platina Partners LLP20 Manchester Square, London, W1U3PZ

020 70429600


Primary Capital LimitedAugustine House, Austin Friars,London, EC2N 2HA

020 79204800


Providence Equity LLP28 St. George Street, London, W1S2FA

020 75148800


Quilvest UK Ltd46 Albermarle Street, 2nd Floor,London, W1S 4JN

020 72901710

http://www.quilvest.com [email protected]

RCapital Partners LLP5th Floor 24 Old Bond Street, Mayfair,London, W1S 4AW

0845 2939888

http://www.rcapital.co.uk [email protected]

Reed Elsevier Ventures 1-3 Strand, London, WC2N 5JR020 71665665


Root Capital LLPFloor 5, Farringdon Place, 20Farringdon Road, London, EC1M 3HE

020 30961970


Royal Society EnterpriseFund

6-9 Carlton House Terrace, London,SW1Y 5AG

020 74512500


Rutland Partners LLPCunard House, 15 Regent Street,London, SW1Y 4LR

020 74510700


Shackleton VenturesLimited

14/15 Jewry Street, Winchester,Hampshire, SO23 8RZ

01962 842621


Silverfleet CapitalPartners LLP

5 Fleet Place, London, EC4M 7RD020 78221000


SL Capital Partners LLP1 George Street, Edinburgh, Lothian,EH2 2LL

0131 2450055

http://www.slcapital.com

Sovereign CapitalPartners LLP

25 Victoria Street, London, SW1H OEX020 73408800


Spirit Capital PartnersLLP

5th floor, 2 Wellington Place, Leeds,LS1 4AP

0113 3662045


STAR Capital Partners6th Floor, 33 Cavendish Square,London, W1G OPW

020 70168500


Stargate CapitalManagement Ltd

4th Floor, 17 St. Helen’s Place, London,EC3A 6DG

020 70120090


Stirling Square CapitalPartners LLP

2 Basil Street, London, SW3 1AA020 78084130


Strathtay VenturesMerlin House, Necessity Brae, Perth,PH2 0PF

01738 587555


Summit Group Ltd10 Cloisters House, 8 Battersea ParkRoad, London, SW8 4BG

020 77204262


Summit Partners Ltd3rd Floor, Queensberry House, 3 OldBurlington Street, London, W1S 3AE

020 76597501


Sun European Partners1st Floor, 2 Park Street, London, W1K 2HX

020 73181100


http://www.pentechvc.com

http://www.phoenix-equity.com

http://www.platinapartners.com

http://www.primaryeurope.com

http://www.provequity.com

http://www.quilvest.com

http://www.rcapital.co.uk

http://www.reedelsevierventures.com

http://www.rootcapital.co.uk

http://www.royalsociety.org

http://www.rutlandpartners.com

http://www.shackletonventures.com

http://www.silverfleetcapital.com


http://www.sovereigncapital.co.uk

http://www.spiritcapital.co.uk

http://www.star-capital.com

http://www.stargatecapital.co.uk

http://www.stirlingsquare.com

http://www.braveheartgroup.co.uk

http://www.summit-group.co.uk

http://www.summitpartners.com

http://www.suneuropeanpartners.com


Sussex Place Ventures18-20 Huntsworth Mews, London,NW1 6DD

020 70000022


Synova Capital LLP 41 Dover Street, London, W1S 4NS020 74915705

http://www.synova-capital.com [email protected]

Terra Firma CapitalPartners Limited

2 More London Riverside, London, SE1 2AP

020 70159500


Top TechnologyVentures Limited

24 Cornhill, London, EC3V 3ND020 74440050


TowerBrook CapitalPartners (UK) LLP

Kinnaird House, 1 Pall Mall East,London, SW1Y 5AU

020 74512020


Towerstone PartnersLtd

10 Old Burlington Street, London, W1S 3AG

020 70096800


TPG Capital LLPStirling Square, 5-7 Carlton Gardens,London, SW1Y 5AD

020 75446500

http://www.tgp.com [email protected]

TTP Venture ManagersLtd

Melbourn Science Park, CambridgeRoad, Melbourn, Royston, Herts, SG8 6EE

01763 262626


Unilever Ventures Ltd1st Floor, 16 Charles II Street, London,SW1Y 4QU

020 73216199


Vertex Law23 Kings Hill Avenue, Kings Hill, WestMalling, Kent, ME19 4UA

01732 224000


Vespa CapitalAmadeus House, 27B Floral Street,London, WC2E 9DP

020 78127144


Viking FundMetic House, Ripley Drive, Normanton,W.Yorkshire, WF6 1QT

01924 227237


Vision Capital GroupLtd

54 Jermyn Street, London, SW1Y 6LX020 73896410


Vitruvian Partners LLP105 Wigmore Street, London, W1U 1QY

020 75182800


Voltaire Equity4th Floor, 73 Brook Street, Mayfair,London, W1K 4HX

020 71821740


WHEB Ventures Ltd2 Fitzhardinge Street, London, W1H 6EE

020 32193441


WK Capital LLPBridge House, London Bridge, London,SE1 9QR

020 74031877


WM EnterpriseWellington House, 31-34 WaterlooStreet, Birmingham, B2 5TJ

0121 2368855

http://www.wm-enterprise.co.uk [email protected]

Wyvern Seed Fund Engine Shed, Clock Tower Yard,Temple Meads, Bristol, BS1 6QH

07534522673


YFM Equity PartnersSaint Martin's House, 210-212Chapeltown Road, Leeds, LS7 4HZ

011 32945000

http://www.yfmep.com [email protected]

106


http://www.spventures.co.uk

http://www.synova-capital.com

http://www.terrafirma.com

http://www.toptechnology.co.uk

http://www.towerbrook.com

http://www.towerstonepartners.com

http://www.tgp.com

http://www.ttpventures.com

http://www.unileverventures.com

http://www.vertexlaw.co.uk

http://www.vespacapital.com

http://www.vikingfund.co.uk

http://www.visioncapital.com

http://www.vitruvianpartners.com


http://www.whebventures.com


http://www.wm-enterprise.co.uk

http://www.wyvernfund.com

http://www.yfmep.com

Crowd Funding: a system in which many people invest very smallamounts of capital into an SME, an individual or a non-profitorganisation.

Business Angels: high net-worth individuals who invest their ownmoney in a business, and require part-ownership in exchange fortaking a high, but measured, risk.

Crowd Funding andBusiness Angels

Walking a tightrope?

Contact http://www.BusinessRescue.co.uk

Check out http://www.BusinessRescue.co.uk

We assist with hands-on restructuring of financially stressed businesses and

provide replacement working capital and turnaround funding where necessary

Contact our team on:

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Email: [email protected]

Website: http://www.BusinessRescue.co.uk

http://www.BusinessRescue.co.uk



An Introduction to Business Angels,Crowdfunding and P2P Lending

BUSINESS ANGELSBack in the 1970’s, Business Angels were involved with financing plays and musicalson Broadway, but this has since developed to span a wide variety of industries andsectors. It is generally accepted that finance facilities of between £25,000 to £750,000can be surprisingly difficult to obtain. Banks generally require security and arebecoming less and less willing to lend to SME’s, and many Venture Capital firms arenot interested in financing these amounts as they don’t consider them profitableenough.

Business Angels are wealthy, entrepreneurial individuals who provide capital in returnfor shares in a company. They take a high personal risk in the expectation of owningpart of a growing and successful business, and in turn may wish to have an activeinterest in that business, or offer you mentoring and advice which may assist inprotecting their investment.

This type of investment – when money is exchanged for shares in the company – iscalled Equity Funding and is the most significant source of investment in start-up andearly stage businesses seeking equity to grow. Amounts of over £250,000 may beprovided through a syndicate which is when several Business Angels invest together.

There are 6 main considerations when thinking about approaching Business Angels:

• The amount you want to raise is between £25,000 and £750,000, and thatyou are willing to part with some shares in your business

• You are happy to develop a personal relationship with the Business Angelthat lends you the money

• You can offer the possibility of a high annual return of at least 20%-30%on the investment, which will typically be for 3-8 year period

• You have a strong understanding of your product and market, and a goodbusiness plan based on actual market research you have carried out

• You have enthusiasm and commitment, and a strong team backing you –both in sales, financial control and professionally

• You have planned a time scale when the Angel can exit the arrangement:either by buying back their shares at market rate; or finding anotherinvestor to buy the shares at market rate; or selling the company.

109

Although Business Angels are primarily a source of start-up and early stage capitalfor companies without a track record, some will provide expansion finance forbusinesses with a proven track record.

You may decide to try and source your own Business Angel, through personal friendsand family; or wealthy business contacts; or a recommendation via your Accountant;or you may decide to register with one of the many Angel Networking Organisations.

You will already have your business plan and financial forecasts, so once you areregistered the organisation will pass on your details to any Business Angels they thinkwould be suitable for your project.

You will then have to present your business proposal in a convincing and concisemanner to these potential investors to try and interest them in your project. They willbe sizing you up to see if they think you and your project are a viable business interest,but at the same time you should be looking at the qualities they can offer you:

• Do you need somebody to advise and mentor you and take an activeinterest in your project on a regular basis?

• Do you just want to borrow the money and have no involvement fromyour Angel?

• Is the Angel excited and enthusiastic about your project?• Do you feel confident you could work well with the Angel and form a

close, personal relationship?

When an Angel has expressed an interest, you need to check that they have the financeavailable; and negotiate amounts; percentages; dividends; salaries; and all the usualissues involved with running a company. You will also need to be prepared to produceany information that the Angel requests.

A solicitor and accountant should preferably be involved in the setting up of terms,because they will help you with the negotiations and any tax issues.


110

CROWDFUNDING and PEER-to-PEER (P2P) LENDINGCrowdFunding is where a large amount of people each provide a small amount ofmoney to fund a business or project. This is always carried out on the internet and itis a way of raising finance by tapping into a ‘crowd’ of like-minded individuals whoare willing to invest smaller amounts of cash.

The first online crowdfunded project is thought to have occurred in 1997 in the USA.Rock band Marillion was unable to afford to tour after the release of a new album, soAmerican fans used the internet to raise enough money for them to perform in theUS – $60,000. Other creative projects quickly followed and in 2012 there were over500 crowdfunding platforms online.

There are three different types of Crowdfunding: Donation; Equity; Debt/P2P

Donation/Reward Crowdfunding is when people invest in a project because theybelieve in the cause. Donors have a personal motivation and do not expect anythingin return. With donation/reward crowdfunding, businesses can access capital thatthey don’t have to pay back, but they provide rewards to those who donate money –rewards can be anything such as: free gifts, tickets to an event, complimentaryproducts etc.

Equity Crowdfunding is when people invest in a project in exchange for shares, or asmall stake in the business. If the business is successful, the value of their investmentgoes up; if not then the value goes down. This form of funding is more suited to start-up, or small companies wishing to expand.

Debt Crowdfunding/P2P Lending is when investors receive their money back withinterest. It is a form of private lending which occurs when individuals loan money toothers – via a website – without going through a bank or another traditionalintermediary. P2P loans don’t necessarily require a crowd of small funders, but couldbe from just one individual – this type of finance is generally for more establishedSME’s as opposed to start-ups.

Debt crowdfunding/p2p lending is a very straightforward method of raising finance:the lender can see the typical rate they can get, along with the length of time theychoose, and it is a requirement that borrowers have to have a full credit check, in muchthe same way as getting a traditional bank loan.

Crowdfunding takes an all-or-nothing approach to success and failure, if a projectreaches its fundraising target, it is considered successful and if it doesn’t – even if it isjust £1 off its target – then it has failed and no money can be taken.

Crowd Funding and Business Angels

111

Linking borrowers to lenders via the internet is a modern, friendly and fast way ofreaching a large audience – borrowers can get better terms and access to more capitalthan with the banks, and lenders earn higher returns by investing in a number ofcompanies.

Unlike the presentations to business angels, everything for crowdfunding and p2pfinance is done online – from applying for the finance, to presenting your project/ideaalong with the business plan and financial forecasts. This requires careful planning,social media skills, networking and time so that your campaign is promoted as muchas possible in the best possible way.

You will need to decide on your most suitable type of “platform”, which means findinga crowdfunding website that suits your funding needs. You can normally filter by thetype of funding you can raise, and the sectors that platforms specialise in.

The “platform” is the organisation – middle man – which matches business investors,funders and lenders with the appropriate SME’s and entrepreneurs seeking funding,finance or investment. The platform will usually offer advice and planning services.It will distribute the money and collect the repayments (for debt crowdfunding/p2p– there are no repayments in equity or donation crowdfunding). For this it will chargea processing fee, and there may also be an ongoing charge.

There is plenty of help available in the crowdfunding sector: financial professionalsare carving themselves a niche within the crowdfunding industry; project andcampaign management companies that will set up, promote, and run your project foryou for a fee; information resources that provide creative crowdfunding guidance andtips; and due diligence services. There are even online stores that handle the orderingand fulfilment of crowdfunded products.

Crowdfunding is not exclusively used for Equity and Debt finance – it also providesBusiness Loans, Bridging Loans, Pension Led Funding, Business Angels, CorporateVenturing, Private Equity, Venture Capital, Property Finance, Commercial Mortgages,Equipment Leasing, Asset Backed Finance, Working Capital Finance, Invoice Finance,Factoring, Grants, Public Sector Funding, EIS Funds, SEIS Funds, Crowdfunding,Peer-2-Peer Loans and much, much more.

Alternative finance – such as Business Angels, Crowdfunding and P2P Lending –is playing an increasingly important role in helping businesses access the financethey need to grow and contribute to the economy. It is almost certain that Britainwill continue to experience substantial growth in the number of campaigns,intermediaries, individual borrowers and lenders, and also in the total capitalraised to fund businesses through alternative means.


112

Crowd Funding and Business AngelsDirectory

113


Abundance GenerationThreshold House, 65-69Shepherd's Bush Green, London,W12 8TX

020 34758666


Advantage BusinessAngels

The Old Borough Hill,Birmingham, B63 3SW

0871 2319911

http://www.advantagebusinessangels.com

Angel CoFundFoundry House, 3 Millsands,Sheffield, S3 8NH


Angel InvestmentNetwork

238 St. Margarets Road,Twickenham, Middlesex, TW1 1NL

http://www.angelinvestmentnetwork.co.ukmike@angelinvestmentnetwork.co.uk

AngelsDen20 New House Park, St. Albans,Hertfordshire, AL1 1UB

020 33180230

http://www.angelsden.com [email protected]


020 78701023


AvonmoreDevelopments Ltd

6 Snow Hill, London, EC1A 2AY020 70027718


Bank To The FutureUnit 36, 88-90 Hatton Garden,London, EC1N 8PN

020 36515374


Be The Lender (BTL)Ribble House, Ribble BusinessPark, Philips Road, Blackburn,Lancashire, BB1 5RB

0845 0942283



21 Palmer Street, London, SW1H0AD

0845 2668660


Capital Connected110 North City Business Centre, 2Duncairn Gardens, Belfast, BT15 2GG


Capital Enterprise(London)

29 Gordon Square, London,WC1H 0PP

020 76794598


Clearly Social Angels4th Floor, 20-24 Old Street,London, EC1V 9AB

020 74909520

http://www.clearlysocialangels.com [email protected]

Community Shares Contact via website http://www.communityshares.org.uk

CrowdAHouse145-157 St. John Street, London,EC1V 4PW

020 33553664


CrowdBankTechhub@Campus, 4-5 BonhillStreet, London, EC2A 4BX

020 32891494

http://www.crowdbnk.com

CrowdCubeThe Innovation Centre, Universityof Exeter, Rennes Drive, Exeter,EX4 4RN

01392241319


http://www.abundancegeneration.com


http://www.angelcofund.co.uk

http://www.angelinvestmentnetwork.co.uk

http://www.angelsden.com


http://www.avonmoredevelopments.com

http://www.banktothefuture.com

http://www.bethelender.co.uk


http://www.capitalconnected.com

http://www.capitalenterprise.org

http://www.clearlysocialangels.com

http://www.communityshares.org.uk

http://www.crowdahouse.com


http://www.crowdcube.com


114


Crowdfunder11 Cliff Road, Newquay, Cornwall, TR72NE

01637 873506


CrowdMissionEastlands, Brooklands Lane, Weybridge,Surrey, KT13 8UX

0845 8382622


crowdsourcing.org Contact via website http://www.crowdsourcing.org

CrowdsUnite Contact via website0800 5094628

http://www.crowdsunite.com support@crowdsunite

EC1 Capital LtdRainmaking Loft, International House, 1St. Katharine's Way, London, E1W 1UN

http://www.ec1capital.com [email protected]

Ecopropagator2 Lingodell Close, Laughton en leMorthen, Sheffield, S25 1ZD

01909 565393


Edge FinancialForecasting (Yabadoo)

47 Bailbrook Lane, Bath, BA1 7AL01225 464071

http://www.edgeff.co.uk [email protected]

Enterprise VenturesThe Pinnacle Building, 73/79 King Street,Manchester, M2 4NG

0845 0948886

http://www.evgroup.uk.com [email protected]

Envestors LLP1 Lancaster Place, London, WC2E 7ED

020 72400202


EthexThe Old Music Hall, 106-108 CowleyRoad, Oxford, OX4 1JE

01865 403304

http://www.ethex.org.uk [email protected]

Finding Finance –CommunityDevelopment FinanceAssociation (CDFA)

Unit 5, Angel Gate, 320-326 City Road,London, EC1V 2PT

020 74300222


Flamingo SkyRaleigh Lodge, Station Road,Churchdown, Gloucestershire, GL3 2JU

020 87980974


Folk2Folk13 Westgate Street, Launceston,Cornwall, PL15 7AB

01566773296

http://www.folk-folk.com [email protected]

Funding Circle UK 3 Dorset Rise, London, EC4Y 8EN020 74019111


Funding EmpireBritannia House, Caerphilly Business Park,Caerphilly, CF83 3GG

http://www.fundingempire.com

Funding ForumUnit 30, Austen Close, Billingham, TS233GT


FundingKnightInternational House, SouthamptonInternational Business Park, George CurlWay, Southampton, SO10 2RZ


FundingPlanetUnit 2 Waterside, 44-48 Wharf Road,London, N1 7UX


FundingStore.comSpringwood, Booths Park, Chelford Road,Knutsford, Cheshire, WA16 8QZ

01565 756141

http://www.fundingstore.com

Galore Investments LtdDebello House, 14-18 Heddon Street,Mayfair, London, W1B 4DA

020 77456100


Gambitious Contact via websitehttp://www.gambitious.com [email protected]

GrowthFunders15 Parsons Court, Welbury Way, AycliffeBusiness Park, Co Durham, DL5 6ZE


http://www.crowdfunder.co.uk

http://www.crowdmission.com

http://www.crowdsourcing.org

http://www.crowdsunite.com


http://www.ecopropagator.com

http://www.edgeff.co.uk



http://www.ethex.org.uk

http://www.findingfinance.org.uk


http://www.folk-folk.com

http://www.fundingcircle.com


http://www.fundingforum.co.uk

http://www.fundingknight.com

http://www.fundingplanet.com


http://www.galoreinvestments.co.uk

http://www.gambitious.com

http://www.growthfunders.com


115


Halo Business AngelsNetwork (HBAN)

Fitzwilliam Hall, Fitzwilliam Place,Dublin 2, Ireland

+353 1 6698525

http://www.hban.org [email protected]

iAdviseUKThe Old School The Stenack, St.Ives, Cornwall, TR26 1QU

07748 984350

[email protected]@iadviseuk.com

InvestingZone8-12 New Bridge Street, London,EC4 6AL


LendInvest101 New Cavendish Street,London, W1W 6XH

020 71181900

http://www.lendinvest.com [email protected]

London BusinessAngels

100 Pall Mall, London, SW1Y 5NQ020 73215672


MADISTON –LendLoanInvest

41 Ashley Road, Walton onThames, Surrey, KT12 1HG

020 33626521

http://www.lendloaninvest.co.uk




01772 788888


MicroGeniusHolyoake House, Hanover Street,Manchester, M60 0AS


Minerva Business AngelNetwork

University of Warwick SciencePark, The Venture Centre, SirWilliam Lyons Road, Coventry,CV4 7EZ

024 76323114



0121 2011746 020 37018000


Next GenerationFinance Consortium(NGFC)

Contact via websitehttp://[email protected]

Northwest BusinessAngels

Manchester Solutions, Lee House,90 Great Bridgewater Street,Manchester, M1 5JW

0161 3593050

http://www.nwbusinessangels.co.uk

Oxford InvestmentOpportunity Network(OION)

Oxford Centre for Innovation, NewRoad, Oxford, OX1 1BY

01865 261499

http://www.oion.co.uk [email protected]

Patronomy Contact via website020 32900809

http://www.patronomy.com [email protected]

Peer2Peer FinanceAssociation (P2PFA)

3 Dorset Rise, London, EC4Y 8EN020 74019111


Pegasus FundingResources

Shepperton, Middlesex, TW17 9LD

01932 24481007778 670236


PlanWriter6 Elstree House, Elstree, Herts,WD6 1SD

020 82266667

http://www.planwriter.co.uk [email protected]

Platform Black LimitedBelvedere House, Basing View,Basingstoke, RG21 4HG

0330 1003636


Plunkett Yates7 Southernhay West, Exeter, EX1 1JG

01392247444

http://www.plunkett-yates.co.uk [email protected]

http://www.hban.org

http://www.investingzone.com

http://www.lendinvest.com

http://www.lbangels.co.uk




http://www.microgenius.org.uk

http://www.minvera.uk.net


http://www.ngfc.org.uk


http://www.oion.co.uk

http://www.patronomy.com

http://www.p2pfinanceassociation.org.uk

http://www.pegasusfunding.co.uk

http://www.planwriter.co.uk


http://www.plunkett-yates.co.uk


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RateSetter406 Great Guildford BusinessSquare, 30 Great Guildford Street,London, SE1 OHS

020 31426226

http://www.ratesetter.com [email protected]

rebuildingsociety.com 16 Queen Square, Leeds, LS2 8AJ0113 8150244


Relendex55 Brook's Mews, London, W1K 4EF

020 74833456

http://www.relendex.com [email protected]

Seedrs2 Chapel Place, Rivington Street,London, EC2A 3DG

020 70338670

http://www.seedrs.com [email protected]

ShareIn5th Floor, 125 Princes Street,Edinburgh, EH2 4AD

http://www.sharein.com

Silicon Beach BusinessAngels

96 Castle Lane West,Bournemouth, Dorset, BH9 3JU

01202 706975

http://www.siliconbeach.pro [email protected]

Solent InnovationBusiness Angels

1 Hampshire Terrace, Portsmouth,Hants, PO1 2QF

023 92847001


Southern InvestmentNetwork

Chapelworth House, 1Chatsworth Road, Worthing, WestSussex, BN11 1LY

01273 931903


SquareknotSuite 2B, 30 Gordon Street,Glasgow, G1 3PU


Syndicate RoomideaSpace, EntrepreuneurshipCentre, 3 Charles Babbage Rd,Cambridge, CB3 OGT


Thames ValleyInvestment Network(TVIN)

Oxford Centre for Innovation, NewRoad, Oxford, OX1 1BY

01865 261488

http://www.tvin.co.uk [email protected]

The Growth Academy58 Crown Crescent, Larbert,Falkirk, Scotland, FK5 4XN

07717 316014


TheBridgeCrowd Contact via websitehttp://[email protected]

ThinCatsThe Dovecote, Pimlico Farm,Austrey Lane, No Mans Heath,Tamworth, B79 0PF

01827 830864

http://www.thincats.com [email protected]

Trillion FundNew Zealand House, 80Haymarket, London, SW1Y 4TE

020 77179708

http://www.trillionfund.com [email protected]

UK Business AngelsAssociation (UKBAA)

Pinners Hall, 105-108 Old BroadStreet, London, EC2N 1EX

020 76287222

http://www.ukbusinessangelsassociation.org.uk [email protected]

UK Crowd FundingAssociation (UKCFA)

Contact via websitehttp://www.ukcfa.org.uk [email protected]

UK Export Finance(UKEF)

1 Horse Guards Road, London,SW1A 2HQ

020 72718000

http://www.gov.uk [email protected]

Volpit3 Hanson Street, London, W1W 6TB

07825 809797

http://www.volpit.com [email protected]

WefundUnit 7, Temple Yard, TempleStreet, London, E2

0800 8886001


Wellesley & CoSecond Floor, 83 Baker Street,London, W1U 6AG

0800 8886001

http://www.wellesley.co.uk [email protected]

http://www.ratesetter.com

http://www.rebuildingsociety.com

http://www.relendex.com

http://www.seedrs.com


http://www.siliconbeach.pro

http://www.solentinnovation.com

http://www.southerninvestmentnetwork.co.uk

http://www.squareknot.co.uk

http://www.syndicateroom.com

http://www.tvin.co.uk

http://www.thegrowthacademy.com

http://www.thebridgecrowd.com

http://www.thincats.com

http://www.trillionfund.com

http://www.ukbusinessangelsassociation.org.u

http://www.ukcfa.org.uk

http://www.gov.uk

http://www.volpit.com

http://www.wefund.com

http://www.wellesley.co.uk


117




020 82036500


Wren CapitalDevonshire House, 60 GoswelRoad, London, EC1M 7AD

020 33973390


XenosOakleigh House, Park Place,Cardiff, CF10 3DQ

029 20338144

http://www.xenos.co.uk

YouAngel483 Green Lanes, London, N13 4BS

020 71836780

http://www.youangel.com

ZEQUSCentenary House, The QueensClub, Palliser Road, London, W14 9EQ

020 73860860

http://www.zequs.com

Zero Start Ventures Ltd53 Davies Street, Mayfair, London,W1K 5JH

020 31784005


Zopa6th Floor, 90 Fetter Lane, London,EC4A 1EN

020 75806060

http://www.zopa.com [email protected]


http://www.wrencapital.co.uk




http://www.zerostartventures.com

http://www.zopa.com

Debt capital that gives the lender the rights to convert to anownership or equity interest in the company if the loan is not paidback in time and in full.

Mezzanine Finance

An Introduction to Mezzanine Finance

Mezzanine funding tends to mix traditional debt facilities with an additional facilitywhen the company achieves certain pre agreed performance targets. The easiest wayto understand how this is structured is to think how banks will normally lend moneyupon which they will be charging an agreed amount of interest: equity funders orinvestors make their return from the company in which they have been investing, inobtaining growth and enhanced profitability – at which point they will look to selltheir equity investment as their point of exit. With a Mezzanine facility, the lendercombines the two, charging interest and taking an equity position as well.

Most providers advancing Mezzanine finance facilities tend to charge a much higherthan normal level of interest, reflecting the level of risk involved. The major differencebetween Mezzanine finance and the normal type of loan facility is that the lender willhave an involvement in the equity of the business, thus sharing any upside or successin the future.

Mezzanine finance is not usually available to the smaller business as it is normallyutilised as part of an overall funding strategy and can prove to be quite expensive. Thekey providers of these funds are usually the bigger banks, venture capital funds, someinvestment consortiums, and specialist restructuring investment houses.

The popularity of Mezzanine finance has grown over recent years, as it can nowprovide many businesses with the ability to raise money for specific projects that theCompany has identified in its overall strategy. Mezzanine finance is increasingly beingused to fund targeted Management Buy-outs, Management Buy-ins, Buy-ins/Buy-outs (BIMBOS) or just for a straightforward acquisition.

Undoubtedly Mezzanine finance facilities provide commercial businesses withfunding that would normally be unavailable through existing financing options dueto the nature of the proposal and the attached risks. The facility can be structured ina number of ways which can include subordinated debt, preference shares or indeedconvertible instruments.

The Mezzanine finance facility is often described as an investment solution and isregarded as ranking after normal credit facilities, but before equity investments.

The main advantages are that it provides funding that is normally not available to acommercial entity and provides a debt/equity solution. The ordinary shareholding of

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the company is not usually affected and as such no dilution takes place. Repaymentterms are normally quite generous as the lender will be seeking to enhance the valueof the business over time to benefit from the equity part of the deal. All partiesultimately benefit from both the company’s growth and success.


122

Mezzanine Finance Directory

123




0151 2364040

http://www.afm.uk.com [email protected]

Argyll Property Partners3rd Floor, 52-53 Margaret Street,London, W1W 8SQ

0844 4723750


Barstow Associates2 The Square, Bagshot, Surrey,GU19 5AX

01276 450460


Charles Russell 5 Fleet Place, London, EC4M 7RD020 72035000


Finance East Ltd Unit 1, Basepoint Business Centre,70-72 The Havens, RansomesEuropark, Ipswich, IP3 9BF

01473 722910


Flourish Capital LtdOakland House, Hope Carr Road,Liegh, Lancashire, WN7 3ET

01942 269791


FSE GroupRiverside House, 4 MeadowsBusiness Park, Station Approach,Blackwater, Camberley, GU17 9AB

01276 608510



56-58 Benson Road, BirchwoodWarrington, WA3 7PQ

01925 846420


Imperial Blue Finance84 Brook Street Mayfair, London,W1K 5EH

020 30082553

http://www.imperial-blue-finance.co.uk



020 32017700


Macfarlanes LLP20 Cursitor Street, London, EC4A 1LT

020 78319222

http://www.macfarlanes.com

Manta Finance PO Box 5264, Brighton, BN50 9BEhttp://[email protected]

Mezzanine DebtFinance

Contact form on website020 75588735

http://www.mezzaninedebtfinance.co.uk


0121 2011746 020 37018000




Pluto Finance (UK) LLP9 Berkeley Street, London, W1J 8DW

020 74422100

http://www.pluto-finance.com [email protected]

Pricoa Capital Group47 King William Street, London,EC4R 9AF

020 76218421


Rabobank InternationalThames Court, 1 Queenhithe,London, EC4V 3RL

020 78093000



http://www.argyllpropertypartners.co.uk

http://www.barstowassociates.co.uk

http://www.charlesrussell.co.uk

http://www.financeeast.com

http://www.flourishcapital.co.uk






http://www.mantafinance.com




http://www.pluto-finance.com

http://www.pricoacapital.com



124


Ranworth CapitalThe Center, 201-203 LondonRoad, East Grinstead, WestSussex, RH19 1HA

01342 778000




0845 6070666


StrataDavon Ltd, 3 Walnut Court, RoseStreet, Wokingham, RG40 1XU

011 89783955

http://www.davonltd.com [email protected]

The North West FundThe Maltings, 98 WilderspoolCauseway, Warrington, Cheshire,

019 25418232

http://www.thenorthwestfund.co.uk

Ultimate Capital GroupTyphoon Business Centre, OakcroftRoad, Chessington, Surrey, KT9 1RH

020 89744705



020 74080022



020 71821740




0845 7034567


http://www.ranworthcapital.com


http://www.davonltd.com


http://www.ultimatecapital.co.uk




Any type of finance that is introduced during the turnaroundprocess, such as: Private Equity, Factoring and Invoice Discounting,Asset Finance, Bank Finance, Corporate Finance.

Turnaround Funding

[email protected]://www.nandtconsultantsltd.co.uk

Tel: 020 3701 8000Mob John : 07462 198 814Mob Larry : 07828 658 278


N&T Consultants Ltd – TurnaroundFunding for Restructuring a Business

Turnaround Funding, as the name might suggest, is normally associated withbusinesses seeking to restructure or “turn around” a company’s financial position andreplace existing funding and/or obtain increased funding when in difficulty.

By its very nature, this is without doubt one of the most difficult forms of funding toobtain: a company that requires new investment or working capital is already introuble, and it therefore follows that success or failure in raising any funding will relyheavily on the quality of the proposition, strategy, and business planning.

Unfortunately, in many cases, the organisation and its directors leave the essential taskof refinancing their business too late and the business runs out of time before it is ableto raise new capital. Pressures from long-standing creditors, combined with cash flowbeing squeezed, often mean that the company literally runs out of money – or evenworse, credit – at which point it will undoubtedly be regarded as being insolvent.

The sad thing is that usually, if some of the key issues had been addressed earlier, it ishighly likely that a simple restructuring package could have been achieved: co-operation could have been sought from any existing financial backers and a structuredplan put in place and agreed with the creditors and suppliers.

During the period in which the company is seeking Support Funding to turnarounda business, it is key to ensure that it is suitably protected. There are a number of optionsavailable for this, such as an Administration or a Company Voluntary Arrangement(CVA). If the problems are tackled early enough, it may not be necessary to enter intoany such arrangement: simple negotiation with the creditors and financial Institutions,combined with a strategically sound business plan and robust financials, may besufficient to give the necessary confidence to the creditors and clients and enable youto put in place the desired structure.

Turnaround Funding in particular, over the last two years, has become increasinglymore popular and surprisingly available in many forms, such as: straightforward CashFlow Funding; Asset Based Lending; Bridging Finance; Mezzanine Funding; Loansand many other alternatives.

In most cases however, an element of Equity Funding is required, which can comefrom various sources, for example: Venture Capital Houses; Investment Consortiums;Angel Investors; Equity Crowdfunding as well as High Net Worth Individuals.

127

Key areas to considerFrom the outset, ensure that you immediately take good quality, clear, insolvencyadvice from a reputable Insolvency Practitioner (IP). You have a legal duty to lookafter the interests of your creditors during any restructuring process, so it is veryimportant to make this a priority. Taking such advice will also assist with your futurestrategy, and may form part of your funding process in respect of your current debts(write offs).

Your next task is to employ the services of a consultant/adviser with a proven recordin this field (your IP may be able to recommend somebody for this). This person willassist you and lead you through the process, thus ensuring that the strategic directionyou are choosing is right for your business and that your goals are achievable.

Looking at your overheads, your margins and putting together clear and achievablefinancial projections is essential. Retaining existing business and obtaining newopportunities is all well and good, however overtrading and overextending a companyis one of the main reasons for business failure. You must ensure that your proposalsand projections are readily achievable and, most importantly, realistic.

Interestingly, funding requirements for restructuring a business very rarely come fromone single source: it is usual for a combination of solutions to come together andprovide an overall package to take the business forward.

Funding Options Explained

Reducing OverheadsOverheads of the business should be scrutinised to establish where costs can bereduced or indeed renegotiated. It is not unusual for as much as a third of the overheadto be reduced, purely by taking hard and fast decisions.

Asset Based Lending (ABL)This is one of the relatively new forms of funding available in the marketplace –effectively it takes all of the major assets in the business which could includemachinery, stock and most importantly good book debt. These are combined in aformalised package to provide the required cash flow. Surprisingly, Asset Based


128

Lending is one of the most utilised forms of funding when turning around a businessor entering into a CVA or indeed exiting from an Administration.

Factoring and Invoice DiscountingThis option is very similar to the Asset Based Lending solution, but concentratingalmost exclusively on the book debts. In some cases it may be possible to get anadvance on book debts of over 100% to take a company out of administration or inand out of a CVA.

Bridging FacilityMainly used for property based assets where a short-term solution is required –normally for up to 6 months – to enable formal financial solutions to be put in place.

Mezzanine FundingFacilities are provided on a 2-3 year basis but the funder provides the finance line andalso takes an Equity position in the business.

Equity, Venture Capital and Investment in generalThis involves individuals, institutions or consortiums investing money into a businessin exchange for an interest in the company. This could also include long-term loanfacilities to run alongside the Equity requirement.

The Business/Turnaround StrategyIt is absolutely key that time is spent with your Accountant and chosen BusinessAdviser/Consultant, carrying out a full overview of your business and operation. Thisis your one opportunity to ensure that all savings that can be made are made, and thatthe forward plan strategy really matches the proposal that you will be producing forpresentation to your creditors and existing financial institution/backers.

When producing the financials to back up the turnaround strategy document, makesure that they are suitably sensitised and realistic. It is important that you are notunder pressure, and your business is not in the situation where it cannot meet targets:this is a sure recipe for failure. Your Accountant/Consultant should produce the figureswith you and ensure that they are realistic.

Turnaround Funding

129

N & T Consultants Ltd is fully committed to finding the best way forward for yourbusiness, using the benefits of turnaround where possible.

As a result of many years of experience we understand the trauma and stress faced bycompanies under creditor pressure. Our advice is clear, impartial and unambiguous,designed to protect the interests of all those involved.

Industry Experience and KnowledgeN & T have many years of experience in dealing with a wide range of company sectorsincluding:

• Automotive Industry• Building and Construction• Car Dealerships• Engineering• Estate Agents• Hotels and Leisure• Information Technology• Media• Nursing Homes• PR and Advertising• Payroll• Property• Retail• Restaurants• Sportswear and Textiles

We always take pride in offering an empathetic approach and offering the mostpractical solutions for all businesses, and are able to assist directors and shareholdersin the rescue and restructuring of their businesses. A solvent business can benefit fromrestructuring as it can help to streamline the business processes. Restructuring canalso rescue businesses with financial difficulties and avoid formal insolvencyprocedures. Obviously, if a company is in the early stages of a financial crisis, moreoptions are available and the business will have a better chance of surviving –prevention is much better than cure.


130

We offer solutions where a business is:• Experiencing cash flow problems• Seeking to reduce overheads• Making losses• Reaching an insolvent position• On the brink of failure

Business Funding & Corporate Legal AssistanceN & T have lasting relationships with a number of finance institutions, individualsand other investors to enable rapid fund-raising.

If you or your business requires funding then please be sure to contact us first, wepromise to try our utmost to provide you with the deal you are looking for.

Our contacts can offer:• Short-Term Bridging• All types of Asset Refinance• Invoice Financing• Payroll Finance

Corporate Legal AssistanceN & T understand that having expert legal advisors are important to the successfulrunning of businesses in the evolving economic climate.

We can offer the following Legal services via our Legal Partners:

• Debt Recovery• Court representation• Responding to Winding Up Petitions• Injunctions• Unfreezing bank accounts• Corporate disputes on a Conditional Fee Agreement (CFA)

Turnaround Funding

131

To summariseTurning around a business that is in trouble requires tactful restructuring, howeverfinding the right sources of funding for such a restructure has surprisingly becomemuch easier than it used to be. There are numerous funding options out there, alongwith skilled and experienced professionals to help support you with the process.

By contacting N & T Consultants Ltd you can be assured that you are talking to acompany that will always act in your best interests and a company that is committedto putting your needs first. We can help you with a FREE, no obligation telephoneconsultation or a meeting in the strictest of confidence.

No matter what you are facing, be assured that N & T are able to help with a personaland professional service.

If you require assistance with either the restructuring process itself or indeedidentification of suitable finance or funding for your business, please feel free tocontact our team as follows:

Contact detailsN & T Consultants LtdEmail: [email protected]: 0203 701 8000 Office hours Mob: 07462 198814 (John) AnytimeMob: 07828 658 278 (Larry) Anytimehttp://www.nandtconsultantsltd.co.uk


132


An Introduction to Turnaround Funding

Turnaround funding is one of the relatively new areas that enables businesses to obtainsupport in their search for a suitable funding opportunity.

Turnaround usually involves the combination of advisory support as well as – in mostcases – access to financial support. The reasons for a company requiring assistancewith turning around its business fortunes can vary greatly, from insolvency throughto being too successful and over trading.

Depending on the quality of the business and the viability of the marketplace thereare now specialist organisations that can provide specific consulting advice andprofessional support. These organisations can usually provide the necessary fundingto turn the business around and bring it back into profitability – normally in exchangefor an equity position in the company.

Utilising turnaround professionals is vital when making key decisions to revive thefortunes of a business, and even more so when you consider that in most cases thiswill be the last opportunity that the board of the company will have in recovering theirposition.

Equally, the fund or institution providing an equity or loan facility will want to ensurethat the strategy employed and agreed is fully monitored and implemented in linewith that agreed strategy, especially as time will be of the essence and mistakes at thisstage would be disastrous.

We have listed a selection of organisations in the market specialising in this type offunding, but the sector appears to be growing rapidly and it undoubtedly providesfacilities to stressed businesses and their owners that did not exist a few years ago.

133

Turnaround Funding Directory

135


1pm15 St. James’s Parade, Bath, BA1 1UL

0844 9670944

http://www.1pm.co.uk [email protected]

4R Business Recovery 50 Broadway, London, SW1H 0RG0800 90 20123


Aqvvs CapitalOne Great Cumberland Place,London, W1H 7LW

020 75357007

http://www.aqvvs.co.uk [email protected]

Better Capital LLPThird Floor, 39-41 Charing CrossRoad, London, WC2H 0AR

020 74400841


Business RescueCrown House, Home Gardens,Dartford, Kent, DA1 1DG

01322 424594


Century 2000 ServicesLtd

1 Royal Exchange Court, QueenStreet, Droitwich, Worcestershire,WR9 8LA

01905 799956

http://www.century2000.co.uk

Company RescueLevel 7, Tower 42, 25 Old BroadStreet, London, EC2N 1HN

080 09700539

http://www.companyrescue.co.uk

Endless LLP102 Park Street, Mayfair, London,W1K 6NE

020 75144000

http://www.endlessllp.com

Hoskyn ChildConsulting LLP

Crown House, Home Gardens,Dartford, DA1 1DZ

01322 424594



3-5 Barrett Street, St. Christopher’sPlace, London, W1U 1AY

020 78360000

http://www.kelsoplace.com [email protected]


5 St. John's Lane, London, EC1M 4BH

020 70602999



0121 2011746 020 37018000



Greener House, 66-68 Haymarket,London, SW1Y 4RF

020 78391980




01932 24481007778 670236


Piccadilly CapitalLondon LLP

18b Charles Street, London, W1J 5DU

020 31784881

http://www.piccadilly-capital.com [email protected]

RCapital Partners LLP5th Floor 24, Old Bond Street,Mayfair, London, W1S 4AW

0845 2939888


ReevesThird Floor, 24 Chiswell Street,London, EC1Y 4YX

020 73821820

http://www.reeves.co [email protected]



0845 1705600


The MacDonaldPartnership (TMP)

4th Floor, 100 Fenchurch Street,London, EC3M 5JD

020 32980830

http://www.tmp.co.uk


http://www.4Rbusinessrecovery.co.uk

http://www.aqvvs.co.uk

http://www.bettercapital.co.uk

http://www.businessrescue.co.uk










http://www.piccadilly-capital.com


http://www.reeves.co




136




020 76349851


Turnaround FundingPainters Hall, Little Trinity Lane,London, EC4V 2AD

0800 3281577


Turnaround SolutionsBryn Bedw, Llangynhafal, Ruthin,Denbighshire, LL5 1RU

01824 707944



http://www.turnaroundfunding.co.uk

http://www.turnaroundsolutions.co.uk

Organisations that offer practical help, legal and financial adviceto businesses.

Support Organisations


138

Geoffrey Martin & Co – Using arestructuring specialist to turn threatsinto opportunities

Stop me if you think you have heard this one before.A company has successfully raised capital and over a three year period has merrilycommitted to developing the next big thing. In doing so it has happily incurred debt,safe in the knowledge that its various funders are totally committed to the concept.The business plan is ambitious but the rewards are high.

But hold on, a few months prior to launch the money well has run dry andmanagement are looking for additional cash. Despite assurances to the contrary, theproject milestones have slipped and there seems to be little prospect that the productwill be ready for market within timescale. Excuses are now wearing thin. Funders feellet down. Trust is diminishing.

And who is that knocking on the door? Oh, a bailiff, here in respect of that PAYE debtto HM Revenue & Customs. Mercifully, at this stage the landlord hasn’t taken the sameroute for the outstanding rent.

Funders had turned a blind eye when the company stopped paying both HMRC andthe landlord. This was because they felt that trade suppliers were more critical todelivering a successful implementation of the project. However, spiralling costsresulting from delays in the development process have meant that this “strategy” nowneeds revisiting.

The Directors are adamant that the only solution is further investment; the funders(who are losing faith rapidly) have one eye on the door marked exit.

In desperation, the Directors are now speaking to any funder who will answer thephone. The lucrative contract with the National High Street retailer which starts intwo months’ time always gets them “a foot in the door”.

The balance sheet, however, is more effective than a salesman with Tourette’s atdooming the pitch to failure. Time is running out and the business is ever increasinglybeing pulled towards a “black hole”.

All parties agree – it’s time to call in a Restructuring Specialist.

139

Black holes can be managedThe Restructuring Specialist understands that no one likes funding black holes – butalso that no one likes to pass on the opportunity of financing a viable restructuredbusiness either.

Black holes come in many shapes and sizes, and will typically result from one or moreof the following factors:

• Onerous lease commitments• Increased development costs• Build-up of historic debt• Poor project management• Delays in forecast revenues• Key employee leverage

We have come across many businesses that have significant potential to be profitable,yet are technically insolvent due to one or more of these factors.

Such businesses are hungry for investment but, on the face of it, any fresh introductionof cash will most likely be swallowed up in correcting past mistakes rather than beingused proactively to preserve enterprise value and develop the business going forward.The received wisdom is that the black hole will somehow need to be filled andprospective funders will naturally feel threatened that any new investment is simplybeing used as the filler.

We consider such “threats” to actually be “opportunities”.

The crux of the matterWhy should existing funders walk away and seek out other, less threateninginvestments? Many do – and potentially throw away a hard-earned opportunity.

Our view is simple and pragmatic – deal with the existing problems and preserveenterprise value, even if that results in the death of the existing corporate shell. Byprotecting the enterprise value the position of existing funders can also be enhancedand returns maximised, while simultaneously providing an opportunity for bothexisting and fresh funders to participate in a new, debt-free entity.


140

All of the factors listed above which cause black holes can be efficiently managed aslong as this key component is present:

That the business is profitable or has realistic potential to become so

Reassuringly straightforward don’t you think?

Contemplation v reactionTime is often a luxury in these situations and we understand that a funder is largelyreliant on the information provided by management which may be incomplete, outof date or even worse inaccurate. It is also likely that the discovery of a “black hole”will have generated a tsunami of problems which the funders had no conception ofeven 24 hours earlier. We are adept to dealing with such scenarios, but alwaysrecommend the ability to think things through rationally rather than simply react.

“What ifs” are therefore part of our staple diet.

“What if ”:

• Covenants are breached?• The product launch is delayed?• Cash runs out?• The patent application fails?• Key staff leave?

Having time to think about such problems and how to manage them greatly facilitatesthe restructuring process and will allow a restructuring specialist to plan for alleventualities. The Rumsfeldian analysis of “known knowns” (i.e. what we know),“known unknowns” (what we know that we don’t know) and “unknown unknowns”(what we don’t know that we don’t know) is an essential element of the process.

A good Restructuring Specialist is also careful to manage the expectations of thevarious stakeholders participating in each assignment. Such stakeholders often havecompeting requirements and our approach seeks to achieve a solution to whicheverybody can commit, with full knowledge and appreciation of all risks as well as aclear understanding of the potential rewards.

We can provide specialist advice in situations where management and funders areworking together to implement an informal restructuring plan, often complementing


141

the role of existing legal and financial advisers. If matters have taken a more criticalturn, we can also provide assistance through more formal procedures such as aCompany Voluntary Arrangement (CVA) or Administration.

The CVA procedure provides the option of restructuring the balance sheet whilepreserving the existing corporate shell. This can have a number of benefits forstakeholders, not least of which is the preservation of tax structures (R&D claims,group relief etc). The procedure can also be used as part of an accelerated M&Aprocess in situations where prospective purchasers are concerned about existingliabilities.

Administrations can be used to facilitate controlled ongoing trading while the businessis marketed and sold, or they can simply result in the now notorious ‘pre-pack’. Asyou may know, a pre-pack is not always the most appropriate solution, but it isoccasionally essential. In our experience one size most definitely does not fit all anda bespoke rather than “off the peg” approach is always the difference between goodand bad advice.

A Restructuring Specialist should never adopt a formulaic approach (and if they doyou should avoid them) and may often provide what appear to be unconventionalsolutions. For this reason it is virtually impossible to write a practical guide to whatrestructuring professionals do in a few short pages as there are just too many variables.

What is consistent in our approach is our focus on two key elements – certainty andcontrol. In essence, we attempt to ensure that the impact of variables on therestructuring process is minimised.

Whether you are a Director of a company with financial difficulties, an existing funderof such a business or a prospective lender, in our opinion these two elements arecrucial. A well planned restructuring process can deliver both to a wide range ofstakeholders.

The corporate shell may need to be sacrificed to preserve enterprise value but as aresult the acquisition or additional investment is de-risked and only minimal duediligence is now required as liabilities are either ring-fenced or have effectivelydisappeared.


142

Your choiceYour chosen strategy, when you suspect a business in which you have invested or arecontemplating funding is distressed (or likely to become so), can be the differencebetween the survival of the business (and subsequent repayment of your indebtedness)and its collapse. Specialist, timely advice will always make a difference – and we arealways available to provide you with a practical demonstration.

Contact detailsStephen Goderski, Geoffrey Martin & CoEmail: [email protected]: 0207 495 1100http://www.geoffreymartin.co.uk/businessturnaround


143

http://www.geoffreymartin.co.uk/businessturnaround

An Introduction to SupportOrganisations

Readers might think it is unusual that we have included a section dedicated to SupportOrganisations, however we believe that the support these organisations provide greatlyimprove the chances of successfully obtaining the funding finance package that you– the company or individual – are seeking.

Naturally, everyone wants to ensure that they have the best possible chance of successwhen making detailed applications for funding, and – in our opinion – the inclusionof a “savvy” accountant or a specialist legal practice is almost essential.

Whilst we appreciate that these are additional costs which perhaps a business may nothave budgeted for at the outset, we believe the costs are a necessary requirement tohelp ensure success, and also to ensure that you are getting the best possible deal fromthe organisation you are approaching.

This is also not about producing contracts and clever figures, but it is confirmationthat your strategy and planning are correct. Having a good, qualified, sounding boardworking with you, to ensure that your reasoning and planning stands up in the eyesof others, is essential.

Of particular interest are the services provided by Insolvency Practitioners or – asthey like to be called – “Corporate Recovery Specialists”. In many cases they are ableto assist financially stressed companies in restructuring their organisations and puttingforward a compelling case for existing or new funders to restructure and support thebusiness.

Often when it seems that there is no route forward and that the business has to gointo liquidation these corporate advisers can come up with some unique solutionswhich enable a full restructuring of the business and allow for a viable turnaroundover time.

It is often worth spending a few minutes outlining your proposals and your overallstrategy to support professionals – in most cases they will happily give you a coupleof hours of their time at no cost to see how they can assist, which in our opinion is avery worthwhile exercise.

It is our strong belief that any cost at the outset will be more than paid back in thelong run and will greatly enhance your chances of success – so take this tip and atleast have a chat.

145

Providing financial rescue solutions for businesses and individuals

Quantuma LLP. Registered in England & Wales. Registered Offi ce: 30 Oxford St, Southampton SO14 3DJ. Registration Number: OC379411. VAT Number: 144 2175 34

At Quantuma we understand the pressures that fi nancial worries can place on a business or an individual. Our partner led team can provide specialised advice on all forms of restructuring and insolvency procedures.

@quantuma1

www.quantuma.com

Southampton:Carl Jacksontel: 023 8033 6464 [email protected]

Marlow:Peter Hughes-Hollandtel: 01628 478100 [email protected]

Brighton:Ian Cadlocktel: 01273 322400 [email protected]

To fi nd out more contact

Support Organisations Directory

147


Allen & Overy LLPOne Bishops Square, London, E1 6AD

020 30880000

http://www.allenovery.com

Apex Group 47 Middle Street, Brighton, EastSussex, BN1 1AL

01273 224466

http://www.apex-group.com [email protected]

Baker & McKenzie LLP100 New Bridge Street, London,EC4V 6JA

0207 9191000


Baker Tilly25 Farringdon Street, London,EC4A 4AB

0203 2018000

http://www.bakertilly.co.uk [email protected]

Barnes Roffe CharteredAccountants

Charles Lake House, ClaireCauseway, Crossways BusinessPark, Dartford, DA2 6QA

01322275335


Begbies Traynor Group340 Deansgate, Manchester, M3 4LY

0161 8371700


Bennett Brooks AnsteyBond

1 Charterhouse Mews, London,EC1M 6BB

0845 3303200


Bird & Bird 15 Fetter Lane, London, EC4A 1JP020 74156000

http://www.twobirds.com [email protected]

Bracher RawlinsSolicitors

77 Kingsway, London, WC2B 6SR020 74049400


Bridgestones125/127 Union Street, Oldham,OL1 1LT

0800 9990666


Burges Salmon LLP One Glass Wharf, Bristol, BS2 OZX011 79392000

http://www.burges-salmon.com [email protected]

Chantrey Vellacott DFKRussell Square House, 10-12Russell Square, London, WC1B 5LF

020 75099000

http://www.cvdfk.com [email protected]

Christie & CoWhitefriars House, 6 CarmeliteStreet, London, EC4Y OBS

020 72270700


Clifford Chance LLP10 Upper Bank Street, CanaryWharf, London, E14 5JJ

020 70061000


Crowe Clark Whitehill(London) Ltd

St. Bride's House, 10 SalisburySquare, London, EC4Y 8EH

020 78427100

http://www.crowehorwath.net/uk/

Deloitte3 New Street Square, London,EC4A 3BT

020 79363000


DLA Piper UK LLP 3 Noble Street, London, EC2V 7EE08700 111111

http://www.dlapiper.com [email protected]

Duff & PhelpsThe Shard, 32 London BridgeStreet, London, SE1 9SG

020 70894700


Ernst & Young1 More London Place, London,SE1 2AF

020 79512000

http://www.ey.com/uk


http://www.apex-group.com

http://www.bakernet.com

http://www.bakertilly.co.uk

http://www.barnesroffe.com

http://www.begbies-traynorgroup.com

http://www.bennettbrooks.co.uk

http://www.twobirds.com

http://www.bracherrawlins.co.uk

http://www.bridgestones.co.uk

http://www.burges-salmon.com

http://www.cvdfk.com

http://www.christiecorporate.com

http://www.cliffordchance.com

http://www.crowehorwath.net/uk/

http://www.deloitte.co.uk

http://www.dlapiper.com

http://www.duffandphelps.com



148


Eversheds LLP1 Wood Street, London, EC2V 7WS

0845 4979797


Fitzgerald and Law 8 Lincoln's Inn Fields, London,WC2A 3BP

020 74044140


Freshfields BruckhausDeringer

65 Fleet Street, London, EC4Y 1HT020 79364000


Geoffrey Martin & Co7-8 Conduit Street, London, W1S 2XF

020 74951100


Giles Insurance1st Floor, The Wallbrook Building,25 Wallbrook, London, EC4N 8AW

0844 3320528


Grant Thornton UK LLPGrant Thornton House, 22Melton Street, Euston Square,London, NW1 2EP

020 73835100

http://www.grant-thornton.co.uk



01322 424594


J.C.RathboneAssociates Limited

12 St. James' Square, London,SW1Y 4LB

020 74933310

http://www.jcra.co.uk [email protected]

Jones Day21 Tudor Street, London, EC4Y ODJ

020 70395959

http://www.jonesday.com/[email protected]

JP Morgan Securities60 Victoria Embankment, London,EC4Y OJP

020 77772000


Kerman & Co LLP200 Strand, London, WC2R 1DJ

020 75397272

http://www.kermanco.com [email protected]

KPMG8 Salisbury Square, London, EC4Y 8BB

020 73111000


KSA GroupLevel 7, Tower 42, 25 Old BroadStreet, London, EC2N 1HN

0800 9700539

http://www.ksagroup.co.uk

Lazard & Co Limited50 Stratton Street, London, W1J 8LL

020 71872000

http://www.lazard.com

Lupton FawcettDenison Till

Yorkshire House, East Parade,Leeds, LS1 5BD

011 32802000

http://www.luptonfawcett.com [email protected]


020 78319222


Marsh & McClennanInsurance

Tower Place, Lower Thames Street,London, EC3R 5BU

020 73571000

http://www.marsh.co.uk

MazarsTower Bridge House, St.Katharine's Way, London, EW1 1DD

020 70634000

http://www.mazars.co.uk [email protected]



020 72805000


NabarroLacon House, 84 Theobald's Road,London, WC1X 8RW

020 75246000

http://www.nabarro.com [email protected]

Norton Rose Fulbright LLP

3 More London Riverside, London,SE1 2AQ

020 78391980

http://www.nortonrosefulbright.com/[email protected]



Olswang90 High Holborn, London, WC1V 6XX

020 70673000

http://www.olswang.com [email protected]

http://www.eversheds.com

http://www.fitzgeraldandlaw.com

http://www.freshfields.com

http://www.geoffreymartin.co.uk

http://www.gilesinsurance.co.uk



http://www.jcra.co.uk

http://www.jonesday.com/london


http://www.kermanco.com

http://www.kpmg.co.uk



http://www.luptonfawcett.com



http://www.mazars.co.uk


http://www.nabarro.com

http://www.nortonrosefulbright.com/uk


http://www.olswang.com


149


Opus Restructuring LLP(London)

One Euston Square, 40 Melton St,London, NW1 2FD

020 7268333307947 350890

http://www.opusllp.com [email protected]

Opus Restructuring LLP(Milton Keynes)

4th Floor, Exchange House, 494Midummer Boulevard, MiltonKeynes, MK9 2EA

01908 30609007813 216406


Osborne ClarkeOne London Wall, London, EC2Y5EB

020 71057000


Pinsent Masons 30 Crown Place, London, EC2A 4ES020 74187000


Practical Law Company Ltd 19 Hatfields, London, SE1 8DJ020 72021220

http://www.practicallaw.com [email protected]

PricewaterhouseCoopersLLP

1 Embankment Place, London,WC2N 6RH

020 75835000

http://www.pwc.com/cf [email protected]

Thirteen Old SquareChambers

13-14 Old Square, Reception at 14Old Square, Lincolns Inn, London,WC2A 3UE

020 78314445


Quantuma Restructuring(Brighton)

3rd Floor, Lyndean House, 43-46Queens Road, Brighton, BN1 3XB

01273 32240007435 262821


Quantuma Restructuring(Marlow)

81 Station Road, Marlow, SL7 1NS

01628 47810007860 322515

http://www.quantuma.com [email protected]

Quantuma Restructuring(Southampton)

30 Oxford Street, Southampton,SO14 3DJ

023 8033646407745 548067


Rosenblatt9-13 St. Andrew Street, London,EC4A 3AF

020 79550880

http://www.rosenblatt-law.co.uk [email protected]

Simmons & SimmonsCityPoint, One Ropemaker Street,London, EC2Y 9SS

020 76282020


Slaughter and MayOne Bunhill Row, London, EC1Y 8YY

020 76001200


Smith & WilliamsonCorporate Finance

25 Moorgate, London, EC2R 6AY020 71314000


Tollers SolicitorsMedina House, 312-314 SilburyBoulevard, Milton Keynes, MK92AE

01908396230

http://www.tollers.co.uk [email protected]

Tollers Solicitors2 Castilian Street, Northampton,NN1 1JX

01604258558


Vertex Law23 Kings Hill Avenue, Kings Hill,West Malling, Kent, ME19 4UA

01732 224000


Watersheds CorporateFinance

8 Bath Road, Old Town, Swindon,Wiltshire, SN1 4BA

01793 719788


Wilkins KennedyBridge House, London Bridge,London, SE1 9QR

020 74031877


Wragge & Co LLP3 Waterhouse Square, 142Holborn, London, EC1N 2SW

0870 9031000

http://www.wragge.com [email protected]

http://www.opusllp.com


http://www.osborneclarke.com

http://www.pinsentmasons.com

http://www.practicallaw.com

http://www.pwc.com/cf

http://www.13oldsquare.com

http://www.quantuma.com



http://www.rosenblatt-law.co.uk

http://www.simmons-simmons.com

http://www.slaughterandmay.com

http://www.smith.williamson.co.uk




http://www.watersheds.ltd.uk

http://www.wilkinskennedy.com

http://www.wragge.com

Our aim is to aid understanding around the activities of our members, promote our industry to entrepreneurs and investors as well as to Government, the EU, trade unions, international media and the general public. We communicate the industry’s impact and reinforce the crucial role our members play in the global economy as a catalyst for change and growth.

BECOME A MEMBERwww.bvca.co.uk/membership

REPRESENTATION Public policy and communications

INSIGHT Research and publications

ACCESS Events and conferences

KNOWLEDGE Training and professional development

VALUE Exclusive discounts on corporate services

British Private Equity & Venture Capital Association 1st Floor North, Brettenham House, Lancaster Place, London WC2E 7EN T +44 (0)20 7420 1800 [email protected] www.bvca.co.uk

The British Private Equity & Venture Capital Association (BVCA) is the industry body and public policy advocate for the private equity and venture capital industry in the UK.

Why join the BVCA?

Non-profit organisations seeking to further a particular profession,the interests of individuals engaged in that profession and thepublic interest by setting standards and regulations to whichmembers must adhere.

151

Associations andProfessional Bodies

Associations and Professional Bodies Directory

153


Asset Based FinanceAssociation (ABFA)

3rd Floor, 20 Hill Rise, Richmond,Surrey, TW10 6UA

020 83329955

http://www.abfa.org.uk

Association of BridgingProfessionals (AOBP)

Suite 304, Belsize Business Centre,258 Belsize Road, London, NW6 4BT

020 73161822

http://www.aobp.org.uk [email protected]

Association of BritishInsurers (ABI)

51 Gresham Street, London, EC2V 7HQ

020 72167441


Association of CertifiedChartered Accountants(ACCA)

29 Lincoln's Inn Fields, London,WC2A 3EE

020 70595000

http://www.accaglobal.com [email protected]

Association ofProfessional FinancialAdvisers (APFA)

26 Throgmorton Street, London,EC2N 2AN

020 76281287

http://www.apfa.net [email protected]

Association of ShortTerm Lenders (ASTL)

St. Mary's Court, The Broadway,Old Amersham, HP7 OUT

01494 618462

http://www.theastl.org [email protected]

British Accounting andFinance Association(BAFA)

Kathryn Hewitt, BAFAAdministrator, c/o TheManagement School, 9 MappinStreet, Sheffield, S1 4DT

0114 2223364

http://www.bafa.ac.uk [email protected]

British BankersAssociation (BBA)


020 72168800

http://www.bba.org.uk [email protected]

British Chambers ofCommerce (BCC)

65 Petty France, London, SW1H 9EU

020 76545800

http://www.britishchambers.org.uk

British InsuranceBrokers' Association(BIBA)

8th Floor, John Stow House, 18Bevis Marks, London, EC3A 7JB

0870 9501790

http://www.biba.org.uk [email protected]

British Private Equityand Venture CapitalAssociation (BVCA)

1st Floor North, BrettenhamHouse, Lancaster Place, London,WC2E 7EN

020 74201800

http://www.bvca.co.uk [email protected]

Building SocietiesAssociation (BSA)

6th Floor, York House, 23Kingsway, London, WC2B 6UJ

020 75205900

http://www.bsa.org.uk [email protected]

Chartered Institute ofManagementAccountants (CIMA)

26 Chapter Street, London, SW1P 4NP

020 88492251


Chartered InsuranceInstitute (CII)

42-48 High Road, SouthWoodford, London, E18 2JP

020 89898464

http://www.cii.co.uk [email protected]

CommunityDevelopment FinanceAssociation (CDFA)

Room 101, Hatton SquareBusiness Centre, 16/16a BaldwinsGardens, London, EC1N 7RJ

020 74300222

http://www.cdfa.org.uk [email protected]

Department forBusiness, Innovationand Skills (BIS)

1 Victoria Street, London, SW1H 0ET

020 72155000

http://www.gov.uk/government/organisations/department-for-business-innovation-skillsenquiries@bis.gsi.gov.uk


http://www.aobp.org.uk

http://www.abi.org.uk

http://www.accaglobal.com

http://www.apfa.net

http://www.theastl.org

http://www.bafa.ac.uk

http://www.bba.org.uk


http://www.biba.org.uk

http://www.bvca.co.uk

http://www.bsa.org.uk

http://www.cimaglobal.com

http://www.cii.co.uk

http://www.cdfa.org.uk

http://www.gov.uk/government/organisations/


154


Export Britain65 Petty France, London, SW1H 9EU

020 76545800


Federation of SmallBusinesses (FSB)

Sir Frank Whittle Way, Blackpool,Lancashire, FY4 2FE

0808 20 20888

http://www.fsb.org.uk [email protected]

Finance and LeasingAssociation (FLA)

2nd Floor, Imperial House, 15-19Kingsway, London, WC2B 6UN

020 78366511

http://www.fla.org.uk [email protected]

Financial ConductAuthority (FCA)

25 The North Colonnade, CanaryWharf, London, E14 5HS

0845 6069966


Financial OmbudsmanService

South Quay Plaza, 183 MarshWall, London, E14 9SR

0800 023 4567

http://www.financial-ombudsman.org.ukcomplaint.info@financial-ombudsman.org.uk

Forum of PrivateBusiness (FPB)

Ruskin Chambers, Drury Lane,Knutsford, Cheshire, WA16 6HA

0845 1301722

http://www.fpb.org [email protected]

Insolvency PractitionersAssociation (IPA)

Valient House, 4-10 HeneageLane, London, EC3A 5DQ

020 76235108


Insolvency Service (The)Head Office, 4 Abbey OrchardStreet, London, SW1P 2HT

0845 6029848

http://www.bis.gov.uk/[email protected]

Institute forIndependent Business(IIB)

Clarenden House, Bridal Path,Watford, Hertfordshire, WD17 1UB

01923 239543

http://www.iib.ws/[email protected]

Institute of AssetManagement (IAM)

St. Brandon's House, 29 GreatGeorge Street, Bristol, BS1 5QT

08454 560565

http://www.theiam.org

Institute of CharteredAccountants inEngland and Wales(ICAEW)

Chartered Accountants' Hall,Moorgate Place, London, EC2R 6EA

020 79208667

http://www.icaew.com [email protected]

Institute of CreditManagement (ICM)

The Watermill, Station Road,South Luffenham, Leicestershire,LE15 8NB

01780 722900

http://www.icm.org.uk [email protected]

Institute of Directors(IOD)

116 Pall Mall, London, SW1Y 5ED020 77668866

http://www.iod.com [email protected]

Institute of FinancialAccountants (IFA)

Burford House, 44 London Road,Sevenoaks, Kent, TN13 1AS

01732 458080

http://www.ifa.org.uk [email protected]

Institute of FinancialPlanning (IFP)

One Redcliff Street, Bristol, BS1 6NP

0117 9452470


Institute of FinancialServices

ifs House, 4-9 Burgate Lane,Canterbury, Kent, CT1 2XJ

01227 818609

http://www.institute.ifslearning.ac.ukcustomerservices@ifslearning.ac.uk

InvestmentManagementAssociation (IMA)

65 Kingsway, London, WC2B 6TD020 78310898


Law SocietyThe Law Society's Hall, 113Chancery Lane, London, WC2A 1PL

020 70421222


London Chamber ofCommerce andIndustry (LCCI)

33 Queen Street, London, EC4R 1AP

020 72484444


ManagementConsultanciesAssociation (MCA)

5th Floor, 36-38 Cornhill, London,EC3V 3NG

020 76457950

http://www.mca.org.uk [email protected]

National Association ofCommercial FinanceBrokers (NACFB)

Hamilton House, 1 TempleAvenue, London, EC4Y 0HA

020 74892056

http://www.nacfb.org [email protected]

http://www.exportbritain.org.uk

http://www.fsb.org.uk

http://www.fla.org.uk

http://www.fca.org.uk

http://www.financial-ombudsman.org.uk

http://www.fpb.org

http://www.insolvency-practitioners.org.uk

http://www.bis.gov.uk/insolvency

http://www.iib.ws/uk


http://www.icaew.com

http://www.icm.org.uk

http://www.iod.com

http://www.ifa.org.uk

http://www.financialplanning.org.uk

http://www.institute.ifslearning.ac.uk

http://www.investmentfunds.org.uk

http://www.lawsociety.org.uk

http://www.londonchamber.co.uk

http://www.mca.org.uk

http://www.nacfb.org

Associations and Professional Bodies

155





Personal FinanceSociety (The) (PFS)

20 Aldermanbury, London, EC2V 7HY

020 85300852

http://www.thepfs.org [email protected]

Solicitors RegulationAuthority (SRA)

The Cube, 199 Wharfside Street,Birmingham, B1 1RN

0870 6062555

http://www.sra.org.uk [email protected]

TheCityUK65a Basinghall Street, London,EC2V 5DZ

020 77768970

http://www.thecityuk.com [email protected]

TurnaroundManagementAssociation UK (TMA)

Millenium Bridge House, 2Lambeth Hill, London, EC4V 4AJ

0844 80 40116

http://www.tma-uk.org [email protected]



020 76287222

http://www.ukbusinessangelsassociation.org.uk [email protected]




I Horse Guards Road, London,SW1A 2HQ

020 72718000


http://www.p2pfinanceassociation.org.uk

http://www.thepfs.org

http://www.sra.org.uk

http://www.thecityuk.com

http://www.tma-uk.org

http://www.ukbusinessangelsassociation.org.u


http://www.gov.uk

Directory

A-Z listing of Finance and Funding Sources for 2014/15.

Water for lifeOne in ten people worldwide lack access to safe water and 2.5 billion do not have anywhere to go to the toilet.

WaterAid transforms lives by improving access to safe water, hygiene and sanitation in the world’s poorest communities.

www.wateraid.org or call 020 7793 4594.

Registered charity numbers 288701 (England and Wales) and SC039479 (Scotland) Photo: WaterAid/Juthika Howlader

47-49 Durham Street, London, SE11 5JD

A

159


AAC Capital Partners7 Stratford Place, London, W1C 1AU

020 35744078


Aareal Bank AG38 Lombard Street, London, EC3V 9BS

020 74569200

http://www.aareal-bank.com/[email protected]

Abbey NationalTreasury Services Plc(ANTS)

Santander Global Banking andMarkets, 2 Triton Square, RegentsPlace, London, NW1 3AN

020 77565070


ABC International Bankplc

1-5 Moorgate, London, EC2R 6AB020 77764000


Aberdeen AssetManagement PLC

Bow Bells House, 1 Bread Street,London, EC4M 9HH

020 74636000


Abingworth LLPPrinces House, 38 Jermyn Street,London, SW1Y 6DN

020 75341500

http://www.abingworth.com [email protected]



0800 0778547


Abundance GenerationThreshold House, 65-69Shepherd's Bush Green, London,W12 8TX

020 34758666


Accel16 St. James's Street, London, SW1 1ER

020 71701000

http://www.accel.com [email protected]

Acorn Capital PartnersMetropolitan House, Station Road,Cheadle Hume, Stockport, SK8 7AZ

0161 4856444


ACT Venture CapitalLtd

Richview Office Park, Clonskeagh,Dublin 14, Ireland

00353 1260 0966

http://www.actventure.com [email protected]

Active Private EquityAdvisory LLP

2nd Floor, 6 Burnsall Street,London, SW3 3ST

020 70428200

http://www.apeq.co.uk [email protected]

Adam & Company plc22 King Street, London, SW1Y 6QY

020 78394615



1pm15 St. James's Parade, Bath, BA1 1UL

0844 9670944

http://www.1pm.co.uk [email protected]

3i16 Palace Street, London, SW1E 5JD

020 79753131

http://www.3i.com

4R Business Recovery 50 Broadway, London, SW1H 0RG0800 90 20123


123


http://www.aareal-bank.com/en

http://www.santandergbm.co.uk



http://www.abingworth.com


http://www.abundancegeneration.com

http://www.accel.com

http://www.acorncapital.co.uk

http://www.actventure.com

http://www.apeq.co.uk

http://www.adambank.com


http://www.3i.com

http://www.4Rbusinessrecovery.co.uk


Adams Street PartnersUK LLP

4th Floor, 75 Davies Street,London, W1K 5JN

020 76597700


ADIB UKOne Hyde Park, 100Knightsbridge, London, SW1 7LJ

020 75902200

http://www.adib.co.uk [email protected]

Advantage BusinessAngels

The Old Borough Hill,Birmingham, B63 3SW

0871 2319911


Advent InternationalPLC

111 Buckingham Palace Road,London, SW1W 6LD

020 73330800


Advent VenturePartners

158-160 North Gower Street,London, NW1 2ND

020 79322100


Affirmative Finance7-9 St. James Square, Manchester,M2 6XX

0870 1123111


African Venture CapitalAssociation

The Banking Hall, CropthorneCourt, 26 Maida Vale, London,W9 1RS

020 3620408

http://www.avca-africa.org [email protected]

AGC Equity PartnersLtd

86 Jermyn Street, London, SW1Y 6JD

020 79593450


Agricultural Bank ofChina (UK) Ltd

7/F Bartholomew Lane, London,EC2N 2AX

020 73748900




01264 334747

http://www.amc.co.uk [email protected]



020 74876500




00353(0)1660 0311

http://www.aib.ie

Airdrie Savings Bank56 Stirling Street, Airdrei,Lanarkshire, Scotland, ML6 0AW

0123 6766851


Airstream InternationalGroup Ltd

Airstream House, 12 Parklands,Railton Road, Guildford, Surrey,GU2 9JX

01483 235737


Albion Ventures LLP1 Kings Arms Yard, London, EC2R 7AF

020 76011850

http://www.albion-ventures.co.uk [email protected]

Alchemy Partners LLP21 Palmer Street, London, SW1H OAD

020 72409596


Aldermore AssetFinance

1st Floor, Block B, Western House,Lynch Wood, Peterborough, PE2 6FZ

0161 2385000


Aldermore Bank1st Floor, Block B, Western House,Lynch Wood, Peterborough, PE2 6FZ

01733 404500


Aldermore InvoiceFinance

St. James’s House, 7 CharlotteStreet, Manchester, M1 4DZ

0800 0217040


Aldermore Mortgages1st Floor, Block B, Western House,Lynch Wood, Peterborough, PE2 6FZ

0333 3211010


Allen & Overy LLPOne Bishops Square, London, E1 6AD

020 30880000




0151 2364040

http://www.afm.uk.com [email protected]

Alliance Trust SavingsLtd

PO Box 164, 8 West Marketgairt,Dundee, DD1 9YP

01382 573737



160

http://www.adamsstreetpartners.com

http://www.adib.co.uk


http://www.adventinternational.com

http://www.adventventures.com

http://www.affirmativefinance.co.uk

http://www.avca-africa.org

http://www.agcequitypartners.com

http://www.uk.abchina.com



http://www.aib.ie

http://www.airdriesavingsbank.com


http://www.albion-ventures.co.uk

http://www.alchemypartners.co.uk




http://www.aldermore-mortgages.co.uk



http://www.alliancetrustsavings.co.uk

Directory

161


Allied Bank Philippines(UK) Plc

114 Rochester Row, London,SW1P 1JQ

020 72336311



01895 272448




020 76473300


Alpha Bank66 Cannon Street, London, EC4N 6EP

020 73329200

http://www.alpha.gr

Alternative BridgingCorporation

Fairchild House, RedbournAvenue, London, N3 2BP

0845 2622222


Altitude Partners LLPKenneth Dibben House, EnterpriseRoad, Southampton, SO16 7NS

023 80002030


Amadeus CapitalPartners Limited

16 St. James’s Street, London,SW1A 1ER

020 70246900


American Express BankLtd

60 Buckingham Palace Road,London, SW1W 0RR

0870 6005360


AnaCap FinancialPartners LLP

25 Beford Street, Covent Garden,London, WC2E 9ES

020 70705250

http://www.anacapfp.com [email protected]

Angel CoFundFoundry House, 3 Millsands,Sheffield, S3 8NH


Angel InvestmentNetwork

238 St. Margarets Road,Twickenham, Middlesex, TW1 1NL

http://www.angelinvestmentnetwork.co.ukmike@angelinvestmentnetwork.co.uk

AngelsDen20 New House Park, St. Albans,Hertfordshire, AL1 1UB

020 33180230

http://www.angelsden.com [email protected]




ANZ Bank (Europe)Limited

ANZ London Office, 40 BankStreet, Canary Wharf, London,E14 5EJ

020 32292121

http://www.anz.com

Apax Partners Ltd33 Jermyn Street, London, SW1Y 6DN

020 78726300

http://www.apax.com [email protected]


0134 2301784


Apex Group 47 Middle Street, Brighton, EastSussex, BN1 1AL

01273 224466

http://www.apex-group.com [email protected]

Apollo ManagementInternational LLP

25 St. George Street, London, W1S 1FS

020 33201554

http://www.agm.com [email protected]

Apposite Capital LtdBracken House, One Friday Street,London, EC4M 9JA

020 70906190


Aqvvs CapitalOne Great Cumberland Place,London, W1H 7LW

020 75357007

http://www.aqvvs.co.uk [email protected]

Arab National Bank35 Curzon Street, London, W1J 7TT

020 72974600

http://www.anb.com.sa [email protected]



020 70122500


Arcapita Limited15 Sloane Square, London, SW1W 8ER

020 78245600

http://www.arcapita.com [email protected]

Arcis Capital Ltd 2 Savile Row, London, W1S 3PA020 74942110


http://www.alliedbank.com.ph



http://www.alpha.gr

http://www.alternativebridging.co.uk

http://www.altitudepartners.co.uk

http://www.amadeuscapital.com


http://www.anacapfp.com

http://www.angelcofund.co.uk

http://www.angelinvestmentnetwork.co.uk

http://www.angelsden.com


http://www.anz.com

http://www.apax.com


http://www.apex-group.com

http://www.agm.com

http://www.appositecapital.com

http://www.aqvvs.co.uk

http://www.anb.com.sa


http://www.arcapita.com

http://www.arcisgroup.com


162


Argyll Property Partners3rd Floor, 52-53 Margaret Street,London, W1W 8SQ

0844 4723750


Arkle Finance52-60 Sanders Road,Wellingborough, NN8 4BX

01933 304791


Arle Capital Partners12 Charles II Street, London,SW1Y 4QU

020 79790000

http://www.arlecapitalpartners.com [email protected]

Armada FinanceArmada House, Odhams Wharf,Topsham, Exeter, EX3 OPB

01392 879599


Asclepios Bioresearch(UK) Ltd

5th Floor, 10 Philpot Lane,London, EC3M 8AA

020 73985680



8th Floor, 80 Mosley Street, St.Peter's Square, Manchester, M2 3FX

0161 2336380


Asset Advantage LtdThird Floor, Matrix House, BasingView, Basingstoke, RG21 4DZ

01256316200


Asset Based FinanceAssociation (ABFA)

3rd Floor, 20 Hill Rise, Richmond,Surrey, TW10 6UA

020 83329955



020 78701023


Association of BridgingProfessionals (AOBP)

Suite 304, Belsize Business Centre,258 Belsize Road, London, NW6 4BT

020 73161822

http://www.aobp.org.uk [email protected]

Association of BritishInsurers (ABI)

51 Gresham Street, London, EC2V 7HQ

020 72167441


Association of CertifiedChartered Accountants(ACCA)

29 Lincoln's Inn Fields, London,WC2A 3EE

020 70595000

http://www.accaglobal.com [email protected]

Association ofProfessional FinancialAdvisers (APFA)

26 Throgmorton Street, London,EC2N 2AN

020 76281287

http://www.apfa.net [email protected]

Association of ShortTerm Lenders (ASTL)

St. Mary's Court, The Broadway,Old Amersham, HP7 OUT

01494 618462

http://www.theastl.org [email protected]

Atlantic Bridge CapitalLLP

33 St. James Square, London,SW1Y 4JS

07793 372033

http://www.abven.com [email protected]

Atlas CreditPO Box 249, Shipley, WestYorkshire, BD18 4WQ

0845 2304414


AToMAToM House, 24 Carfax, Horsham,West Sussex, RH12 1EB

0140 3272625

http://www.atomltd.co.uk [email protected]

Augmentum Capital27 St. James's Place, London,SW1A 1NR

020 75141998


August Equity LLP10 Slingsby Place, St. Martin'sCourtyard, London, WC2E 9AB

020 76328200


Australia & NewZealand Banking GroupLtd (ANZ)

40 Bank Street, Canary Wharf,London, E14 5EJ

020 32292121

http://www.anz.com



01603 687596


http://www.argyllpropertypartners.co.uk

http://www.arklefinance.co.uk

http://www.arlecapitalpartners.com


http://www.abioresearch.com





http://www.aobp.org.uk

http://www.abi.org.uk

http://www.accaglobal.com

http://www.apfa.net

http://www.theastl.org

http://www.abven.com

http://www.atlascredit.co.uk

http://www.atomltd.co.uk

http://www.augmentumcapital.com

http://www.augustequity.com

http://www.anz.com


Directory

163


AvonmoreDevelopments Ltd

6 Snow Hill, London, EC1A 2AY020 70027718


AXA Private Equity UK1 Grafton Street, London, W1S 4FE

020 70031350


Azini Capital PartnersLLP

29 Farm Street, London, W1J 5RL020 31783388

http://www.azini.com [email protected]

BCompany name Address Telephone Website/email

BACB (British ArabCommercial Bank)

8-10 Mansion House Place,London, EC4N 6EP

020 76487777

http://www.bacb.co.uk [email protected]

Bain Capital LtdDevonshire House, Mayfair Place,London, W1J 8AJ

020 75145252


Baird Capital PartnersEurope

Mint House, 77 Mansell Street,London, E1 8AF

020 76678400


Baker & McKenzie LLP100 New Bridge Street, London,EC4V 6JA

0207 9191000


Baker Tilly25 Farringdon Street, London,EC4A 4AB

0203 2018000

http://www.bakertilly.co.uk [email protected]

Balderton CapitalManagement (UK) LLP

20 Balderton Street, London, W1K 6TL

020 70166800



020 79078000

http://www.bankleumi.co.uk [email protected]

Bank Mandiri (Europe)Ltd

6 Thomas More Square, London,E1W 1YW

020 75538688


Bank of AmericaBusiness Capital

2 King Edward Street, London,EC1A 2AY

020 79964546

[email protected]

Bank of America MerrillLynch

Financial Centre, 2 King EdwardStreet, London, EC1A 1HQ

020 76281000


Bank of BarodaGroup Control Office, 32 CityRoad, London, EC1Y 2BD

020 74571515


Bank of Beirut (UK) Ltd17a Curzon Street, London, WIJ 5HS

020 74938342


Bank of China (UK) Ltd90 Cannon Street, London, EC4N 6HA

020 72828845



0845 8505555


http://www.avonmoredevelopments.com


http://www.azini.com

http://www.bacb.co.uk



http://www.bakernet.com

http://www.bakertilly.co.uk

http://www.balderton.com


http://www.bkmandiri.co.uk


http://www.bankofbarodauk.com

http://www.bankofbeirut.co.uk




164


Bank of IndiaLondon Branch, 4th Floor, 63Queen Victoria St, London, EC4N 4UA

020 79652500


Bank of IrelandCorporate Banking

Head Office, 40 Mespil Road,Dublin 4

00353 1604 4000



0845 6038050




00353 1661 5933


Bank of IrelandMortgages

PO Box 27, One Temple Quay,Bristol, BS99 7AX

0845 3008000




0845 6038050

http://www.bank-of-ireland.co.uk/banking/commercial-finance

Bank of New YorkMellon

160 Queen Victoria Street,London, EC4V 4LA

020 71635566



0845 6060286


Bank of Tokyo-Mitsubishi UFJ

Ropemaker Place, 25 RopemakerStreet, London, EC2Y 9AN

020 75771000


Bank Saderat plc 5 Lothbury, London, EC2R 7HD020 76000133

http://www.saderat-plc.com [email protected]

Bank To The FutureUnit 36, 88-90 Hatton Garden,London, EC1N 8PN

020 36515374



0845 1238004



Churchill Plaza, Churchill Way,Basingstoke, RG21 7GL

0800 227222



020 71161000


Barclays Bank TrustCompany Ltd

1 Churchill Place, London, E14 5HP

0845 6010106



0800 0154242



International Department,Churchill Plaza, Churchill Way,Basingstoke, RG21 7GP

0845 9000600


Barclays Ventures7th Floor, UK House, 180 OxfordStreet, London, W1D 1EA

020 75994538


Barnes Roffe CharteredAccountants

Charles Lake House, ClaireCauseway, Crossways BusinessPark, Dartford, DA2 6QA

01322275335


Barstow Associates2 The Square, Bagshot, Surrey,GU19 5AX

01276 450460


Barton Bridging CapitalPrince of Wales House, 3Bluecoats Avenue, Hertford, SG14 1PB

0844 5689888


BC Partners Limited40 Portman Square, London, W1H 6DA

020 70094800

http://www.bcpartners.com [email protected]

http://www.bankofindia.uk.com





http://www.bank-of-ireland




http://www.saderat-plc.com

http://www.banktothefuture.com







http://www.barclaysventures.com

http://www.barnesroffe.com

http://www.barstowassociates.co.uk

http://www.bartonbridging.com

http://www.bcpartners.com

Directory

165


Be The Lender (BTL)Ribble House, Ribble BusinessPark, Philips Road, Blackburn,Lancashire, BB1 5RB

0845 0942283


Begbies Traynor Group340 Deansgate, Manchester, M3 4LY

0161 8371700


Belgravia PropertyFinance

34 Buckingham Palace Road,London, SW1W 0RE

020 36515053


Bennett Brooks AnsteyBond

1 Charterhouse Mews, London,EC1M 6BB

0845 3303200


Beringea LLP39 Earlham Street, London, WC2H 9LT

020 78457820

http://www.beringea.co.uk [email protected]

Bespoke BridgingFinance Ltd

PO Box 62, Stanmore, Middlesex,HA7 3QB

020 89543484

http://www.bespokeloans.com [email protected]

Bestport Ventures LLP29 Gloucester Place, London,W1U 8HX

020 74872555


Better Capital LLPThird Floor, 39-41 Charing CrossRoad, London, WC2H 0AR

020 74400841


Bibby Financial Services200 Aldersgate Street, London,EC1A 4HD

0800 91 9592


Bibby Financial Services 105 Duke Street, Liverpool, L1 5JQ0800 91 9592


Bibby Leasing Ltd7 Airport West, Lancaster Way,Yeadon, Leeds, LS19 7ZA

0800 919592


BIRA Bank225 Bristol Road, Edgebaston,Birmingham, West Midlands, B5 7UB

012 14466688

http://www.bira.co.uk [email protected]

Bird & Bird 15 Fetter Lane, London, EC4A 1JP020 74156000

http://www.twobirds.com [email protected]

Bishopsgate FundingLtd

The Tower Business Centre,Portland Tower, Portland Street,Manchester, M1 3LD

0161 2735188


Blackstone GroupInternational Ltd

40 Berkeley Square, London, W1J 5AL

0207 4514000

http://www.blackstone.com [email protected]


0161 9337050


BLGOne Crown Square, Woking,Surrey, GU21 6HR

0845 4656500




020 76180000

http://www.blme.com [email protected]

Bloomberg VenturesCity Gate House, 39-45 FinsburySquare, London, EC2A 1PQ

020 32164455


Blue Gem CapitalPartners LLP

16 Berkeley Street, London, W1J 8DZ

020 76479710


BM Samuels314 Regents Park Road, Finchley,London, N3 2JX

020 83499090

http://www.bmsamuels.com [email protected]

http://www.bethelender.co.uk

http://www.begbies-traynorgroup.com

http://www.belgraviacommercial.co.uk

http://www.bennettbrooks.co.uk

http://www.beringea.co.uk

http://www.bespokeloans.com

http://www.bestport.co.uk

http://www.bettercapital.co.uk




http://www.bira.co.uk

http://www.twobirds.com

http://www.bishopsgatefunding.com

http://www.blackstone.com



http://www.blme.com

http://www.bloombergventures.com

http://www.bluegemcp.com

http://www.bmsamuels.com


166


BMCE BankInternational

26 Upper Brook Street, Mayfair,London, W1K 7QE

020 74295500




0845 6931433


BNP Paribas LeaseGroup plc

Northern Cross, Basing View,Basingstoke, RG21 4HL

0845 2267367

http://www.leasingsolutions.bnpparibas.co.ukenquiries@bnpparibas-leasegroup.co.uk

BNP Paribas UK10 Harewood Avenue, London,NW1 6AA

020 75952000


Boost CapitalThird Floor, Carlton House, 101New London Road, Chelmsford,Essex, CM2 0PP

0800 138908001245 353326


BOS Spec Prop Finance The Mound, Edinburgh, EH1 1YZ0845 3001956


Bowmark Capital LLP3 St. James's Square, London,SW1Y 4JU

020 71899000

http://www.bowmark.com [email protected]

Bracher RawlinsSolicitors

77 Kingsway, London, WC2B 6SR020 74049400


Bradford & Bingley plcP.O. Box 88, Cross Road,Crossflatts, Bingley, BD16 2UA

01274 555555


Braveheart VenturesThe Cherrybank Centre,Cherrybank Gardens, Perth,Perthshire, PH2 OPF

01738 587555


Bray Capital LtdSuite 9, Wilmslow House, GroveWay, Wilmslow, SK9 5AG

016 25469999

http://www.braycapital.com [email protected]

Bregal Capital LLPMichelin House, 81 Fulham Road,London, SW3 6RD

020 75914200


Bridgebank Capital1 Riverview, The EmbankmentBusiness Park, Heaton Mersey,Cheshire, SK4 3GN

0808 2222211


Bridgepoint95 Wigmore Street, London, W1U 1FB

020 70343500

http://www.bridgepoint.eu [email protected]

Bridges Ventures LLP 1 Craven Hill, London, W2 3EN020 72625566


Bridgestones125/127 Union Street, Oldham,OL1 1LT

0800 9990666


Bridging FinanceLimited

Lake View, Lakeside, Cheadle, SK8 3GW

0161 333195507778 970694


Bridging FinanceSolutions

86-88 Wallasey Road, WallaseyRoad, Wirral, Cheshire, CH44 2AE

0151 6397554

http://www.bridgingfinance-solutions.co.ukinfo@bridgingfinance-solutions.co.uk

http://www.bmce-intl.co.uk

http://www.commercialfinance.bnpparibas.co

http://www.leasingsolutions.bnpparibas.co.uk


http://www.boostcapital.co.uk


http://www.bowmark.com

http://www.bracherrawlins.co.uk


http://www.braveheart-ventures.co.uk

http://www.braycapital.com

http://www.bregalcapital.com


http://www.bridgepoint.eu

http://www.bridgesventures.com

http://www.bridgestones.co.uk

http://www.bridgingfinance.co.uk

http://www.bridgingfinance-solutions.co.uk

Directory

167


Bridging Loans Ltd65 Bath Street, 1st Floor (right),Glasgow, G2 2BX

0141 3328884


Brightstar FinancialThe Hub, Unit 7, Lake MeadowsBusiness Park, WoodbrookCrescent, Billericay, CM12 0EQ

01277500900


British Accounting andFinance Association(BAFA)

Kathryn Hewitt, BAFAAdministrator, c/o TheManagement School, 9 MappinStreet, Sheffield, S1 4DT

0114 2223364

http://www.bafa.ac.uk [email protected]

British BankersAssociation (BBA)


020 72168800

http://www.bba.org.uk [email protected]

British Chambers ofCommerce (BCC)

65 Petty France, London, SW1H 9EU

020 76545800


British Gas VentureCapital

2nd Floor, Lakeside, 30 TheCauseway, Staines, Middlesex,TW18 3BY

07557 612158


British InsuranceBrokers' Association(BIBA)

8th Floor, John Stow House, 18Bevis Marks, London, EC3A 7JB

0870 9501790

http://www.biba.org.uk [email protected]

British Private Equityand Venture CapitalAssociation (BVCA)

1st Floor North, BrettenhamHouse, Lancaster Place, London,WC2E 7EN

020 74201800

http://www.bvca.co.uk [email protected]

Brooklin Partnership plcTopoco House, Shady Lane,Bromley Cross, Bolton, B67 9AF

01204 600690


Brown Shipley PrivateBanking

Founders Court, Lothbury,London, EC2R 7HE

020 76069833


Brunel Mortgages andLoans Ltd

1st Floor, Avocet House, DorcanComplex, Faraday Road, Swindon,SN3 5HQ

01793 612266


Building SocietiesAssociation (BSA)

6th Floor, York House, 23Kingsway, London, WC2B 6UJ

020 75205900

http://www.bsa.org.uk [email protected]


0845 6418888

http://www.burdale.co.uk [email protected]

Burges Salmon LLP One Glass Wharf, Bristol, BS2 OZX011 79392000

http://www.burges-salmon.com [email protected]


21 Palmer Street, London, SW1H 0AD

0845 2668660


Business LendingOne Crown Square, Woking,Surrey, GU21 6HR

0845 4656500


Business RescueCrown House, Home Gardens,Dartford, Kent, DA1 1DG

01322 424594


Butterfield Private Bank(UK) Ltd

99 Gresham Street, London,EC2V 7NG

020 77766700


http://www.bridgingloansltd.co.uk

http://www.brightstarfinancial.net

http://www.bafa.ac.uk

http://www.bba.org.uk


http://www.britishgas.co.uk

http://www.biba.org.uk

http://www.bvca.co.uk

http://www.brooklinpartnership.com


http://www.brunelmortgages.co.uk

http://www.bsa.org.uk


http://www.burges-salmon.com



http://www.businessrescue.co.uk

http://www.uk.butterfieldgroup.com


168


C. Hoare & Co37 Fleet Street, London, EC4P 4DQ

020 73534522


C5 Capital Ltd53 Davies Street, London, W1K 5JH

020 37097031


Cabot Square CapitalLLP

One Connaught Place, London,W2 2ET

020 75799320


CAF Bank (Part ofCharities AidFoundation)

25 Kings Hill Avenue, Kings Hill,West Malling, Kent, ME19 4TA

03000 123000

http://www.cafonline.org [email protected]

Calverton FactorsLimited

Calverton House, 1 Keller Close,Milton Keynes, MK11 3LL

01908268888


Cambridge & CountiesBank

Charnwood Court, New Walk,Leicester, LE1 6TE

0844 2253939

http://www.ccbank.co.uk [email protected]

Capital BridgingFinance Ltd

Grafton House, 2-3 GoldenSquare, London, W1F 9HR

0203 5405120

http://www.cbfl.co.uk [email protected]

Capital Connected110 North City Business Centre, 2Duncairn Gardens, Belfast, BT15 2GG


Capital Enterprise(London)

29 Gordon Square, London,WC1H 0PP

020 76794598


Capital for EnterpriseLtd

1 Broadfield Close, BroadfieldBusiness Park, Sheffield, S8 OXN

0114 2062131


Capital Group (CIPEF)40 Grosvenor Place, London,SW1X 7GG

020 78645596


Capital One Bank(Europe) plc

Trent House, Station Street,Nottingham, NG2 3FB

0844 4812812


Carlyle GroupLansdowne House, 57 BerkeleySquare, London, W1J 6ER

020 78941200


Catapult Ventures1 Burrough Court, Burrough onthe Hill, Melton Mowbray,Leicestershire, LE14 2QS

0116 2388200

http://www.catapult-vm.co.uk [email protected]

Cater Allen PrivateBank

Santander House, 9 Nelson Street,Bradford, BD1 5AN

0800 0923300


CBPE Capital2 George Yard, London, EC3V 9DH

020 70651100

http://www.cbpel.com [email protected]

Celtic InvoiceDiscounting

54 Mulgrave St. Dun Laoghaire,Co. Dublin, Ireland

00353(0)1230 0866

http://www.celtic-id.com [email protected]

C


http://www.c5capital.co.uk

http://www.cabotsquare.com

http://www.cafonline.org

http://www.calvertonfactors.co.uk

http://www.ccbank.co.uk

http://www.cbfl.co.uk

http://www.capitalconnected.com

http://www.capitalenterprise.org

http://www.capitalforenterprise.com



http://www.carlyle.com

http://www.catapult-vm.co.uk


http://www.cbpel.com

http://www.celtic-id.com

Directory

169


Central Bridging LoansGranary Wharf, Wharf Road,Burton-on-Trent, Derbyshire, DE14 1DU

03332 400506




020 86032900

http://www.centriccf.com [email protected]

Century 2000 ServicesLtd

1 Royal Exchange Court, QueenStreet, Droitwich, Worcestershire,WR9 8LA

01905 799956


Century Capital13 Albermarle Street, London,W1S 4HJ

020 74959191


Chamonix PrivateEquity

4 St. Paul's Churchyard, London,EC4M 8AY

020 73329550


Chantrey Vellacott DFKRussell Square House, 10-12Russell Square, London, WC1B 5LF

020 75099000

http://www.cvdfk.com [email protected]

Charity Bank Ltd194 High Street, Tonbridge, Kent,TN9 1BE

01732 774040


Charles Russell 5 Fleet Place, London, EC4M 7RD020 72035000



Charleston House, 13 High Street,Hemel Hempstead, HP1 3AA

01442 8177180207 6552288


Chartered Institute ofManagementAccountants (CIMA)

26 Chapter Street, London, SW1P 4NP

020 88492251


Chartered InsuranceInstitute (CII)

42-48 High Road, SouthWoodford, London, E18 2JP

020 89898464

http://www.cii.co.uk [email protected]

Charterhouse CapitalPartners LLP

7th Floor, Warwick Court,Paternoster Square, London,EC4M 7DX

020 73345300


CharterhouseCommercial Finance plc

Oakfield House, 33 PerrymountRoad, Haywards Heath, WestSussex, RH16 3BW

0870 2431836


CHG-Meridian UK LtdBarons Court, 22 The Avenue,Egham, Surrey, TW20 8RZ

01784 470701

http://www.chg-meridian.com [email protected]

China ConstructionBank (London) Ltd

18th Floor, 40 Bank Street, HeronQuays, London, E14 5NR

020 70386000

http://www.uk.ccb.com [email protected]

Chord Capital LimitedHarston Mill, Harston, Cambridge,Cambs, CB22 7GG

01223 875590


Christie & CoWhitefriars House, 6 CarmeliteStreet, London, EC4Y OBS

020 72270700


Chrysalis VCT PLCSuite 1, 46 Dorset Street, London,W1U 7NB

020 74867454


Church House Trust3 Goldcroft, Yeovil, Somerset,BA21 4DQ

01935 609600


Cinven Partners LLPWarwick Court, PaternosterSquare, London, EC4M 7AG

020 76613333

http://www.cinven.com [email protected]

http://www.centralbridgingloans.co.uk



http://www.centurycapital.co.uk

http://www.chamonixpe.com

http://www.cvdfk.com

http://www.charitybank.org

http://www.charlesrussell.co.uk


http://www.cimaglobal.com

http://www.cii.co.uk

http://www.charterhouse.co.uk

http://www.charterhousefactoring.com

http://www.chg-meridian.com

http://www.uk.ccb.com

http://www.chordcapital.co.uk

http://www.christiecorporate.com

http://www.chrysalisvct.co.uk


http://www.cinven.com


170


CIT Bank LimitedPeninsular House, 36 MonumentStreet, London, EC3R 8LJ

020 74114800

http://www.cit.com

CIT Group (UK) LtdCirca, 2a High Street, Bracknell,Berkshire, RG12 1AA

01344 383700

http://www.cit.com

Citibank UKPromenade Level, Cabot PlaceEast, Canary Wharf, London, E14 4QS

0800 005500


Clarendon FundManagers Limited

8th Floor, City Exchange, 11-13Gloucester Street, Belfast, BT1 4LS

028 90326465


Clean WorldCapital(UK) Ltd

2nd Floor, 20 Orange Street,London, WC2H 7EF

020 73890819


Clearly Social Angels4th Floor, 20-24 Old Street,London, EC1V 9AB

020 74909520

http://www.clearlysocialangels.com [email protected]

Clifford Chance LLP10 Upper Bank Street, CanaryWharf, London, E14 5JJ

020 70061000


Clifton CowleyVentures

24 Berkeley Square, Clifton,Bristol, BS8 1HP

0845 0268675


Close Brothers10 Crown Place, London, EC2A 4FT

020 76553100


Close Brothers AssetFinance Ltd

11th Floor, Tolworth Tower, EwellRoad, Surbiton, Surrey, KT6 7EL

0808 1158619


Close BrothersCommercial Finance

Sanmore House, IDA Business &Technology Park, Clonshaugh,Dublin 17

0808 1593583


Close Brothers InvoiceFinance Ltd

Ridgeland House, 165 Dyke Road,Hove, East Sussex, BN3 1UY

0808 1593583



10 Crown Place, London, EC2A 4FT

020 76553655


Close Motor FinanceRoman House, Roman Road,Doncaster, DN4 5EZ

01302 646464


Clydesdale & YorkshireBank Invoice Finance

30 St. Vincent Place, Glasgow, G1 2HL

0800 0323971


Clydesdale Bank AssetFinance Ltd

Stirling House, Blair Court, 6 NorthAvenue, Clydebank Business Park,Clydebank, G1 2HL

0800 0323971


Clydesdale Bank plc30 St. Vincent Place, Glasgow, G1 2HL

0141 2487070


Co-operative Bank PO Box 200, Delf House,Southway, Skelmersdale, WN8 6GH

08457 212212


Coface ReceivablesFinance Ltd

15 Appold Street, London, EC2A 2DL

020 73257500

http://www.cofaceuk.com [email protected]

Commercial FirstThe Vineries, Broughton HallBusiness Park, Skipton, BD23 3AE

08452689101




0845 0345130


http://www.cit.com

http://www.cit.com


http://www.clarendon-fm.co.uk

http://www.cleanworldcapital.com

http://www.clearlysocialangels.com

http://www.cliffordchance.com

http://www.cliftoncowley.com

http://www.closebrothers.co.uk

http://www.closeassetfinance.co.uk




http://www.closemotorfinance.co.uk





http://www.cofaceuk.com

http://www.commercialfirst.co.uk


Directory

171


CommunityDevelopment FinanceAssociation (CDFA)

Room 101, Hatton SquareBusiness Centre, 16/16a BaldwinsGardens, London, EC1N 7RJ

020 74300222

http://www.cdfa.org.uk [email protected]

Community Shares Contact via website http://www.communityshares.org.uk

Company RescueLevel 7, Tower 42, 25 Old BroadStreet, London, EC2N 1HN

080 09700539


Conance LtdHatherley House, 15-17 WoodStreet, Barnet, EN5 4AT

020 84494141

http://www.conance.co.uk [email protected]

Conister BankClarendon House, Victoria Street,Douglas, Isle of Man, IM1 2LN

01624 694694


Conister Finance andLeasing


01925273150


Connection Capital LLPIvybridge House, One AdamStreet, London, WC2N 6AB

020 79682755


Consulco Finance32 Curzon Street, London, W1J 7WS

020 84437015


Core Capital LLP9 South Street, Mayfair, London,W1K 2AX

020 31790925

http://www.core-cap.com [email protected]

Cornhill Capital4th Floor, 18 St. Swithins Lane,London, EC4N 8AD

020 77109610


Corporate AssetSolutions Ltd

Island House, 8 Fernacre BusinessPark, Budds Lane, Romsey,Hampshire, SO51 OHA

08542 799777


County Asset Finance11 Midland Court, Central Park,Leicester Road, Lutterworth,Leicestershire, LE17 4PN

01455 200150


Coutts & Co28th Floor, 1 Canada Square,Canary Wharf, London, E14 5AA

020 77531000


Creative CapitalSuite 1, Bates Mill Cottage, BatesMill Lane, Tiverton, Tarporley,Cheshire, CW6 9AE

01244 561343


Crédit AgricoleBroadwalk House, 5 AppoldStreet, London, EC2A 2DA

020 72145000


Credit and MercantileMercantile House, The Grange,Market Square, Westerham, Kent,TN16 1HB

01959567190


Credit Suisse UK LtdTimes Place, 45 Pall Mall, 2ndFloor, London, SW1Y 5JG

020 78881000


CrowdAHouse145-157 St. John Street, London,EC1V 4PW

020 33553664


CrowdBankTechhub@Campus, 4-5 BonhillStreet, London, EC2A 4BX

020 32891494


CrowdCubeThe Innovation Centre, Universityof Exeter, Rennes Drive, Exeter,EX4 4RN

01392241319


http://www.cdfa.org.uk

http://www.communityshares.org.uk


http://www.conance.co.uk



http://www.connectioncapital.co.uk

http://www.consulcofinance.com

http://www.core-cap.com

http://www.cornhillcapital.com

http://www.corporateasset.co.uk

http://www.countyassetfinance.com


http://www.creativecapitaluk.com


http://www.creditmercantile.co.uk


http://www.crowdahouse.com


http://www.crowdcube.com


172


Crowdfunder11 Cliff Road, Newquay, Cornwall,TR7 2NE

01637 873506


CrowdMissionEastlands, Brooklands Lane,Weybridge, Surrey, KT13 8UX

0845 8382622


Crowdsourcing.org Contact via website http://www.crowdsourcing.org

CrowdsUnite Contact via website0800 5094628

http://www.crowdsunite.com support@crowdsunite

Crowe Clark Whitehill(London) Ltd

St. Bride's House, 10 SalisburySquare, London, EC4Y 8EH

020 78427100

http://www.crowehorwath.net/uk

Crown Agents BankLtd

St. Nicholas House, St. NicholasRoad, Sutton, Surrey, SM1 1EL

020 86433311


Crystal Mortgages66 Lysways Street, Walsall, WestMidlands, WS1 3AA

01922 722008


Cumberland BuildingSociety

Cumberland Business, CooperWay, Parkhouse, Carlisle, Cumbria,CA3 0JF

0845 6018396


CVC Capital PartnersLimited

111 Strand, London, WC2R OAG020 74204200


DCompany name Address Telephone Website/email

D&D Leasing (UK) Ltd70 St. Mary Axe, London, EC3A 8BE

020 76180926


Dancastle Finance1 Dancastle Court, ArcadiaAvenue, London, N3 2JU

0800 3432728



020 74108000


Darwin Private EquityLLP

15 Bedford Street, London, WC2E 9HE

020 74200750

http://www.darwinpe.com [email protected]



0161 8328494

http://www.davaf.co.uk [email protected]

Dawn Capital LLP14 Buckingham Street, London,WC2N 6DF

020 78396682


Deloitte3 New Street Square, London,EC4A 3BT

020 79363000


Department forBusiness, Innovationand Skills (BIS)

1 Victoria Street, London, SW1H 0ET

020 72155000

http://www.gov.uk/government/organisations/department-for-business-innovation-skillsenquiries@bis.gsi.gov.uk

http://www.crowdfunder.co.uk

http://www.crowdmission.com

http://www.crowdsourcing.org

http://www.crowdsunite.com

http://www.crowehorwath.net/uk


http://www.crystalmortgages.com


http://www.cvc.com

http://www.danddleasing.co.uk



http://www.darwinpe.com


http://www.dawncapital.co.uk

http://www.deloitte.co.uk

http://www.gov.uk/government/organisations/

Directory

173


Derbyshire FirstInvestments Limited

Bridge House, Riverside Village,Hady Hill, Chesterfield, Derbyshire,S41 ODT

01246 207390

http://www.dfil.co.uk [email protected]

Deutsche Bank AG1 Appold Street, London, EC2A 2UU

020 75457660

http://www.db.com

Deutsche Leasing (UK)Ltd

45 London Road, Reigate, Surrey,RH2 9PY

01737 232900

http://www.deutsche-leasing.com/[email protected]

Development FinanceLtd

1st floor (right), 65 Bath Street,Glasgow, G2 2BX

0141 3328884


Devon and CornwallSecurities Ltd (DCS)

8 Fore Street, Camelford,Cornwall, PL32 9PG

01840 212832

http://www.devonandcornwallsecurities.co.uklh@devonandcornwallsecurities.co.uk


020 71844100


DLA Piper UK LLP3 Noble Street, London, EC2V 7EE

08700 111111

http://www.dlapiper.com [email protected]

Dragonfly PropertyFinance

20 Old Bailey, London, EC4M 7AN

080 02946850


Dubai InternationalCapital

9th Floor, 21 Palmer Street,London, SW1H OAD

020 78081700

http://www.dubaiic.com [email protected]

Duff & PhelpsThe Shard, 32 London BridgeStreet, London, SE1 9SG

020 70894700


Duke Street CapitalNations House, 103 WigmoreStreet, London, W1U 1QS

020 76638500


Duncan Lawrie PrivateBankers

1 Hobart Place, London, SW1W 0HU

020 72451234


Dunedin LLPSaltire House, 20 Castle Terrace,Edinburgh, EH1 2EN

0131 2256699

http://www.dunedin.com [email protected]

ECompany name Address Telephone Website/email

E-Synergy LimitedFleet House, 8-12 New BridgeStreet, London, EC4V 6AL

020 75833503

http://www.e-synergy.com [email protected]


01493 856069


EC1 Capital LtdRainmaking Loft, InternationalHouse, 1 St. Katharine's Way,London, E1W 1UN

http://www.ec1capital.com [email protected]

ECF Asset Finance plc


01925 273150


Ecopropagator2 Lingodell Close, Laughton en leMorthen, Sheffield, S25 1ZD

01909 565393


http://www.dfil.co.uk

http://www.db.com

http://www.deutsche-leasing.com/uk

http://www.developmentfinanceltd.co.uk

http://www.devonandcornwallsecurities.co.uk


http://www.dlapiper.com


http://www.dubaiic.com

http://www.duffandphelps.com

http://www.dukestreetcapital.com

http://www.duncanlawrie.com

http://www.dunedin.com

http://www.e-synergy.com




http://www.ecopropagator.com


174


Edge FinancialForecasting (Yabadoo)

47 Bailbrook Lane, Bath, BA1 7AL01225 464071

http://www.edgeff.co.uk [email protected]

Edge InvestmentManagement Ltd

1 Marylebone High Street,London, W1U 4LZ

020 73171300

http://www.edge.uk.com [email protected]

EFG Private Bank LtdLeconfield House, Curzon Street,London, W1J 5JB

020 74919111

http://www.efgl.com

EIIB (European IslamicInvestment Bank plc)

European Office, Milton Gate, 60Chiswell Street, London, EC1Y 4SA

020 78479900


Elderstreet InvestmentsLimited

10-11 Charterhouse Square,London, EC1M 6EE

020 78315088

http://www.elderstreet.com [email protected]

Electra Partners LLPPaternoster House, 1st Floor, 65St. Paul's Churchyard, London,London, EC4M 8AB

020 72144200


Elysian Capital LLPIngram House, 15 John AdamStreet, London, WC2N 6LU

020 79258050


Endless LLP102 Park Street, Mayfair, London,W1K 6NE

020 75144000


Enterprise Equity FundManagement (NI)Limited

78a Dublin Road, Belfast, N. Ireland, BT2 7HP

028 90242500

http://www.eeni.com [email protected]

Enterprise VenturesThe Pinnacle Building, 73/79 KingStreet, Manchester, M2 4NG

0845 0948886

http://www.evgroup.uk.com [email protected]

Envestors LLP1 Lancaster Place, London, WC2E 7ED

020 72400202


EnvironmentalTechnologies Fund LP

20 Berkeley Square, London, W1J 6EQ

020 73180700

http://www.etf.eu.com [email protected]

EPI-V LLP3rd Floor, Denman House, 120Piccadilly, London, W1J 0DG

020 77343689


EPIC Private EquityAudrey House, 16-20 Ely Place,London, EC1N 6SN

020 72698861

http://www.epicpe.com [email protected]

Equistone (UK) LLP4th Floor, Condor House, St. Paul'sChurchyard, London, EC4M 8AL

020 76535300


Equity Ventures Ltd11 Vittoria Walk, Cheltenham, GL50 1TL

01242575686


Ernst & Young1 More London Place, London,SE1 2AF

020 79512000


EthexThe Old Music Hall, 106-108Cowley Road, Oxford, OX4 1JE

01865 403304

http://www.ethex.org.uk [email protected]

Euler Hermes UK andIreland

Head Office, 1 Canada Square,Canary Wharf, London, E14 5DX

020 75129333


Euro Sales FinanceSmith House, Elmwood Avenue,Feltham, Middlesex, TW13 7QD

0800 716313

http://www.rbsif.co.uk [email protected]

http://www.edgeff.co.uk

http://www.edge.uk.com

http://www.efgl.com


http://www.elderstreet.com

http://www.electrapartners.com

http://www.elysiancapital.com


http://www.eeni.com



http://www.etf.eu.com

http://www.epi-v.com

http://www.epicpe.com

http://www.equistonepe.com

http://www.equityventures.co.uk


http://www.ethex.org.uk

http://www.eulerhermes.co.uk


Directory

175


Europe Arab Bank –Private Banking

13-15 Moorgate, London, EC2R 6AD

020 73158500

http://www.eabplc.com [email protected]

European Capital4th Floor, 25 Bedford Street,London, WC2E 9ES

020 75397000


Everline c/o WDFC UK, Sheffield, S95 1AR0844 3913376


Eversheds LLP1 Wood Street, London, EC2V 7WS

0845 4979797


Exponent Private EquityLLP

12 Henrietta Street, London,WC2E 8LH

020 78458520


Export Britain65 Petty France, London, SW1H 9EU

020 76545800


FCompany name Address Telephone Website/email

Factor 21 plc9,Thames Park, Wallingford, Oxon,OX10 9TA

01491 824993

http://www.factor21.co.uk [email protected]

FAF – the RuralMortgage Specialists

c/o NatWest, 3rd Floor, 10 SouthStreet, Romford, RM1 1RA

0800 225567

http://www.fafltd.co.uk [email protected]

Fair Finance18 Ashwin Street, London, E8 3DL

020 89880627


FBN Bank (UK) Ltd28 Finsbury Circus, London, EC2M 7DT

020 79204920


FBSE Finance LimitedGround Floor, Regent House,Theobald Street, Borehamwood,WD6 4RS

0845 2603366


FC Fund Managers68 Lemon Street, Truro, Cornwall,TR1 2PN

01872 272288


FCMB (UK) LimitedBroadbent House, 65 GrosvenorStreet, London, W1K 3JH

020 72906840

http://www.fcmbuk.com [email protected]

Federation of SmallBusinesses (FSB)

Sir Frank Whittle Way, Blackpool,Lancashire, FY4 2FE

0808 20 20888

http://www.fsb.org.uk [email protected]

FF&P Private EquityLimited

15 Suffolk Street, London, SW1Y 4HG

020 70365722


FGI Finance UK LLP15 Berkeley Street, 5th Floor,London, W1J 8DY

020 70167724


FIBI Bank (UK) plc24 Creechurch Lane, London,EC3A 5JX

020 72809500


http://www.eabplc.com

http://www.europeancapital.com


http://www.eversheds.com

http://www.exponentpe.com

http://www.exportbritain.org.uk

http://www.factor21.co.uk

http://www.fafltd.co.uk

http://www.fairfinance.org.uk



http://www.fcfundmanagers.com

http://www.fcmbuk.com

http://www.fsb.org.uk

http://www.ffandp.com

http://www.fgiww.com



176


Fidelity GrowthPartners

25 Cannon Street, London, EC4M 5TA

020 70745610


FIM Bank PLCLondon Representative Office, 11Ironmonger Lane, London, EC2V 8EY

020 77100030

http://www.fimbank.com [email protected]

Finance and LeasingAssociation (FLA)

2nd Floor, Imperial House, 15-19Kingsway, London, WC2B 6UN

020 78366511

http://www.fla.org.uk [email protected]

Finance East Ltd Unit 1, Basepoint Business Centre,70-72 The Havens, RansomesEuropark, Ipswich, IP3 9BF

01473 722910


Finance WalesInvestments Limited

3rd Floor Oakleigh House, ParkPlace, Cardiff, CF10 3DQ

0200 5874140


Financial ConductAuthority (FCA)

25 The North Colonnade, CanaryWharf, London, E14 5HS

0845 6069966

http://www.fca.org.uk [email protected]

Financial OmbudsmanService

South Quay Plaza, 183 MarshWall, London, E14 9SR

0800 023 4567

http://www.financial-ombudsman.org.ukcomplaint.info@financial-ombudsman.org.uk

Fincorp58 Acacia Road, London, NW8 6AG

020 77227547

http://www.fincorp.co.uk [email protected]

Finding Finance –CommunityDevelopment FinanceAssociation (CDFA)

Unit 5, Angel Gate, 320-326 CityRoad, London, EC1V 2PT

020 74300222


First Capital FactorsSutton House, Ashville Point,Clifton Lane, Sutton Weaver,Cheshire, WA7 3FW

0845 6769760

http://www.firstcapitalfactors.co.ukdavidmarsden@firstcapitalfactors.co.uk

First Lease Ltd 7 Caroline Place, Bath, BA1 5HU0844 2472009

http://www.firstlease.co.uk [email protected]

First MerchantFirst Merchant House, 116 LondonRoad, Kingston upon Thames,Surrey, KT2 6QJ

020 85470180


First Trust BankFirst Trust Centre, 92 St. AnnStreet, Belfast, BT1 3HH

0845 6005925


First4BridgingAtruim Court, The Ring, Bracknell,RG12 1BW

0844 5007777


Fitzgerald and Law 8 Lincoln's Inn Fields, London,WC2A 3BP

020 74044140


Flamingo SkyRaleigh Lodge, Station Road,Churchdown, Gloucestershire,GL3 2JU

020 87980974


Flexible Finance UK Ltd Risca Road, Newport, NP20 4HY016 33841328


Flourish Capital LtdOakland House, Hope Carr Road,Liegh, Lancashire, WN7 3ET

01942 269791


Folk2Folk13 Westgate Street, Launceston,Cornwall, PL15 7AB

01566773296



http://www.fimbank.com

http://www.fla.org.uk

http://www.financeeast.com

http://www.financewales.co.uk

http://www.fca.org.uk

http://www.financial-ombudsman.org.uk

http://www.fincorp.co.uk

http://www.findingfinance.org.uk

http://www.firstcapitalfactors.co.uk

http://www.firstlease.co.uk

http://www.firstmerchant.co.uk


http://www.first4bridging.co.uk

http://www.fitzgeraldandlaw.com


http://www.flexiblefinanceuk.co.uk

http://www.flourishcapital.co.uk

http://www.folk-folk.com

Directory

177


Foresight GroupECA Court, South Park,Sevenoaks, Kent, TN13 1DU

01732 471800


Fortis CommercialFinance Ltd


01892 703500


Forum of PrivateBusiness (FPB)

Ruskin Chambers, Drury Lane,Knutsford, Cheshire, WA16 6HA

0845 1301722

http://www.fpb.org [email protected]

Freshfields BruckhausDeringer

65 Fleet Street, London, EC4Y 1HT020 79364000


Frog Capital Ltd1A Birkenhead Street, London,WC1H 8BA

020 78330555

http://www.frogcapital.com [email protected]

FSE GroupRiverside House, 4 MeadowsBusiness Park, Station Approach,Blackwater, Camberley, GU17 9AB

01276 608510


Funding Circle UK 3 Dorset Rise, London, EC4Y 8EN020 74019111


Funding EmpireBritannia House, CaerphillyBusiness Park, Caerphilly, CF83 3GG


Funding ForumUnit 30, Austen Close, Billingham,TS23 3GT


FundingKnight

International House, SouthamptonInternational Business Park,George Curl Way, Southampton,SO10 2RZ


FundingPlanetUnit 2 Waterside, 44-48 WharfRoad, London, N1 7UX


FundingStore.comSpringwood, Booths Park,Chelford Road, Knutsford,Cheshire, WA16 8QZ

01565 756141


GCompany name Address Telephone Website/email

Galore Investments LtdDebello House, 14-18 HeddonStreet, Mayfair, London, W1B 4DA

020 77456100


Gambitious Contact via websitehttp://www.gambitious.com [email protected]

Gatehouse Bank plcFloor 24, 125 Old Broad Street,London, EC2N 1AR

020 70706000


http://www.foresightgroup.eu

http://www.fortiscomfin.com

http://www.fpb.org

http://www.freshfields.com

http://www.frogcapital.com


http://www.fundingcircle.com


http://www.fundingforum.co.uk

http://www.fundingknight.com

http://www.fundingplanet.com


http://www.galoreinvestments.co.uk

http://www.gambitious.com

http://www.gatehousebank.com


178


GE Capital Bank LtdPO Box 821, Wallsend, Newcastle,NE28 5BE

08450 773333


GE Capital EquipmentFinance Ltd

The Ark, 201 Talgarth Road,London, W6 8BJ

020 73026300


GE Commercial FinanceFleet Services Ltd

Old Hall Road, Sale, Cheshire,M33 2GZ

0870 4588701




01737 841200


Gener8 Finance Ltd86G Innovation Drive, Milton Park,Abingdon, Oxfordshire, OX14 4RX

0333 1218888


Generation InvestmentManagement LLP

20 Air Street, London, W1B 5AN020 75344700


Geoffrey Martin & Co7-8 Conduit Street, London, W1S 2XF

020 74951100


Ghana InternationalBank plc

1st Floor, 67 Cheapside, London,EC2V 6AZ

0845 6056004


Giles Insurance1st Floor, The Wallbrook Building,25 Wallbrook, London, EC4N 8AW

0844 3320528


Glenmore Capital LtdThird Floor, 38 Wigmore Street,London, W1U 2RU

020 79350100


Glenside Finance LtdUnit A5, Segensworth BusinessCentre, Segensworth Road,Fareham, Hampshire, PO15 5RQ

01329 849434


GMAC CommercialFinance plc

Heol Y Gamlas, Parc Nantgarw,Treforest Industrial Estate,Treforest, Cardiff, CF15 7QU

0844 8712222


GoIndustry DoveBid1-6 Lombard Street, London, EC3V 9JU

020 70983700

http://www.go-dove.com [email protected]


0161 2362122



56-58 Benson Road, Birchwood,Warrington, WA3 7PQ

01925 846420


Goldman Sachs CapitalPartners

Peterborough Court, 133 FleetStreet, London, EC4A 2BB

020 77741000

http://www.gs.com

Goldman SachsInternational Bank

Peterborough Court, 133 FleetStreet, London, EC4A 2BB

020 77741000




01491 576008


Grant Thornton UK LLPGrant Thornton House, 22 MeltonStreet, Euston Square, London,NW1 2EP

020 73835100


Graphite CapitalManagement LLP


020 78255300


Greencoat CapitalGreencoat House, 15 FrancisStreet, London, SW1P 1DH

020 78329400



0800 7797097


http://www.gecapitaldirect.co.uk




http://www.gener8finance.com

http://www.generationim.com

http://www.geoffreymartin.co.uk

http://www.ghanabank.co.uk

http://www.gilesinsurance.co.uk

http://www.glenmorecapital.co.uk

http://www.glensidefinance.co.uk


http://www.go-dove.com



http://www.gs.com




http://www.graphitecapital.com

http://www.greencoat-capital.com


Directory

179


Grenke FactoringGC Factoring Ltd, 5th Floor, SaxonHouse, 3 Onslow St, Guildford,GU1 4SY

01483 401740


Growth CapitalPartners

2nd Floor, 112 Jermyn Street,London, SW1Y 6LS

020 70249800


GrowthFunders15 Parsons Court, Welbury Way,Aycliffe Business Park, Co Durham,DL5 6ZE


Guaranty Trust Bank(UK) Ltd

60-62 Margaret Street, London,W1W 8TF

020 79479700


Gulf International Bank(UK) Limited

One Knightsbridge, London,SW1X 7XS

020 72593456


HCompany name Address Telephone Website/email

H.I.G. Capital25 St. George Street, Mayfair,London, W1S 1FS

020 73185700

http://www.higcapital.com [email protected]

Habibsons Bank Ltd9 Portman Street, London, W1H 6DZ

020 78951100


Hadleigh Partners18b Charles Street, Mayfair,London, W1J 5DU

020 73994250


Halo Business AngelsNetwork (HBAN)

Fitzwilliam Hall, Fitzwilliam Place,Dublin 2, Ireland

+353 1 6698525

http://www.hban.org [email protected]


01329 234294


HandelsbankenTrinity Tower, 3 Thomas MoreSquare, London, E1W 1WY

020 75788000


HarbourVest Partners(UK) Ltd

Berkeley Square House, 8th Floor,Suite 7, Berkeley Square, London,W1J 6DB

020 73999820


Harrods Bank Ltd87-135 Brompton Road,Knightsbridge, London, SW1X 7XL

020 72256789


Havin Bank Ltd 30 Marsh Wall, London, E14 9TP020 75367050


Hayat Capital53 Davies Street, Mayfair, London,W1K 5JH

020 81441514

http://www.hayatcap.com [email protected]

http://www.grenkefactoring.co.uk

http://www.growthcapital.co.uk

http://www.growthfunders.com



http://www.higcapital.com

http://www.habibsons.co.uk

http://www.hadleighpartners.com

http://www.hban.org


http://www.handelsbanken.co.uk

http://www.harbourvest.com

http://www.harrodsbank.co.uk


http://www.hayatcap.com


180


Haydock Finance LtdChallenge House, Challenge Way,Greenbank Business Park,Blackburn, BB1 5QB

01254 685858


Helios InvestmentPartners LLP

2nd Floor, 12 Charles II Street, St.James's, London, SW1Y 4QU

020 74847700


Helmsley GroupColenso House, Omega 1, MonksCross Drive, Monks Cross, York,YO32 9GZ

01904682800

http://www.helmsley.co.uk [email protected]

Henderson GlobalInvestors Ltd

201 Bishopsgate, London, EC2M 3AE

020 78181818


Herald InvestmentManagement Limited

10-11 Charterhouse Square,London, EC1M 6EE

020 75536300


Hermes Private EquityLloyds Chambers, 1 PortsokenStreet, London, E1 8HZ

020 76803880


Hg Capital2 More London Riverside, London,SE1 2AP

020 70897888

http://www.hgcapital.com [email protected]

Hitachi Capital BusinessFinance

Hitachi Capital House, ThorpeRoad, Staines-upon-Thames,Surrey, TW18 3HP

084 32082244


Hitachi Capital InvoiceFinance

Isis House, Red Cross Road,Goring on Thames, Reading, RG8 9HG

0808 1492451


Hope CapitalSwitch House, Northern PerimeterRoad, Liverpool, L30 7PT

0845 4940708

http://www.hope-capital.co.uk [email protected]

Horatio InvestmentsLandmark House, Wirral ParkRoad, Glastonbury, BA6 9FR

014 58832900


Hoskyn Child BridgingCrown House, Home Gardens,Dartford, DA1 1DZ

01322 424594




01322 424594


HSBC Asset Finance1st Floor, 60 Queen VictoriaStreet, London, EC4N 4TR

0800 3281410


HSBC Bank CorporateBanking

City Corporate Banking Centre,1st Floor, 60 Queen VictoriaStreet, London, EC4N 4TR

08456034158



0800 3281410


HSBC EquipmentFinance (UK) Ltd

12 Calthorpe Road, Edgbaston,Birmingham, B15 1FD

0845 6076007


HSBC Invoice Finance(UK) Ltd

21 Farncombe Road, Worthing,West Sussex, BN11 2BW

01903205181


HSBC LeveragedFinance

Level 24, 8 Canada Square,London, E14 5HQ

020 79922606

http://www.hsbc.co.uk [email protected]

HSBC PrincipalInvestments

Level 23, 8 Canada Square,London, E14 5HQ

020 79913614


HSBC Private Bank Ltd78 St. James’s Street, London, SW1A 1JB

020 78605000


Hunter Finance (UK)Ltd

Post Office House, High Street,Uckfield, East Sussex, TN22 1AA

01825 749721



http://www.heliosllp.com

http://www.helmsley.co.uk



http://www.hermesgpe.com

http://www.hgcapital.com



http://www.hope-capital.co.uk

http://www.horationinvestments.com

http://www.hoskynchildbridging.co.uk







http://www.hsbc.co.uk

http://www.hsbcnet.com


http://www.hunterfinance.co.uk

Directory

181


iAdviseUKThe Old School, The Stenack, St.Ives, Cornwall, TR26 1QU

07748 984350

[email protected]@iadviseuk.com

ICBC (London) plc81 King William Street, London,EC4N 7BG

020 73978888


Iceni CapitalHillsdown House, 32 HampsteadHigh Street, London, NW3 1JQ

020 74350600


ICICI Bank UKPO Box 68921, One Thomas MoreSquare, London, E1W 9HB

020 34785319

http://www.icicibank.co.uk [email protected]

ICON CorporateFinance

53 Davies Street, Mayfair, London,W1K 5JH

020 71526375


IFG Network (InterfaceFinancial Group)

Riverside Business Centre,Riverside House, River Lawn Road,Tonbridge, TN9 1EP

0800 0148626


IGF Invoice Finance 2 Maidstone Road, PaddockWood, Tonbridge, Kent, TN12 6GF

0845 8350597

http://www.igfgroup.com [email protected]

Ignition Credit PLCSterling House, Truro BusinessPark, Threemilestone, Truro, TR4 9LF

01872272900


IK Investment PartnersLimited

Brettenham House, 5 LancasterPlace, London, WC2E 7EN

020 73044300

http://www.ikinvest.com [email protected]

Impax AssetManagement Limited

Norfolk House, 31 St. James'sSquare, London, SW1Y 4JR

020 74341122

http://www.impax.co.uk [email protected]

Imperial Blue Finance84 Brook Street, Mayfair, London,W1K 5EH

020 30082553


Inflexion Private Equity9 Mandeville Place, London, W1U 3AY

020 74879888

http://www.inflexion.com [email protected]

ING Bank (WholesaleBanking)

60 London Wall, London, EC2M 5TQ

020 77671000

http://www.ing.com

ING Lease (UK) Ltd60 High Street, Redhill, Surrey,RH1 1NY

0870 9986100


Ingenious VenturesLimited

15 Golden Square, London, W1F 9JG

020 73194000


Innovation Finance LtdThe Innovation Centre, HighfieldDrive, Churchfields, St. Leonards-on-Sea, TN38 9UH

01424 858285

http://www.ifltd.org [email protected]

Insolvency PractitionersAssociation (IPA)

Valient House, 4-10 HeneageLane, London, EC3A 5DQ

020 76235108


Insolvency Service, TheHead Office, 4 Abbey OrchardStreet, London, SW1P 2HT

0845 6029848

http://www.bis.gov.uk/[email protected]

Institute forIndependent Business(IIB)

Clarenden House, Bridal Path,Watford, Hertfordshire, WD17 1UB

01923 239543

http://www.iib.ws/[email protected]

I

http://www.icbclondon.com

http://www.icenicapital.com

http://www.icicibank.co.uk

http://www.iconcorpfin.co.uk

http://www.ifgnetwork.co.uk

http://www.igfgroup.com

http://www.ignitioncredit.co.uk

http://www.ikinvest.com

http://www.impax.co.uk


http://www.inflexion.com

http://www.ing.com


http://www.ingeniousmedia.co.uk

http://www.ifltd.org

http://www.insolvency-practitioners.org.uk

http://www.bis.gov.uk/insolvency

http://www.iib.ws/uk


182


Institute of AssetManagement (IAM)

St. Brandon's House, 29 GreatGeorge Street, Bristol, BS1 5QT

08454 560565


Institute of CharteredAccountants inEngland and Wales(ICAEW)

Chartered Accountants' Hall,Moorgate Place, London, EC2R 6EA

020 79208667

http://www.icaew.com [email protected]

Institute of CreditManagement (ICM)

The Watermill, Station Road,South Luffenham, Leicestershire,LE15 8NB

01780 722900

http://www.icm.org.uk [email protected]

Institute of Directors(IOD)

116 Pall Mall, London, SW1Y 5ED020 77668866

http://www.iod.com [email protected]

Institute of FinancialAccountants (IFA)

Burford House, 44 London Road,Sevenoaks, Kent, TN13 1AS

01732 458080

http://www.ifa.org.uk [email protected]

Institute of FinancialPlanning (IFP)

One Redcliff Street, Bristol, BS1 6NP

0117 9452470


Institute of FinancialServices

ifs House, 4-9 Burgate Lane,Canterbury, Kent, CT1 2XJ

01227 818609

http://www.institute.ifslearning.ac.ukcustomerservices@ifslearning.ac.uk

Intel Capitalc/o Intel Corporation (UK) Ltd,Carrington House, 126-130Regent Street, London, W1B 5SE

020 72928780

http://www.intelcapital.com [email protected]

Intelligent LoansHouse 1, The Maltings, EastTyndall Street, Cardiff Bay, CF24 5EA

0845 2637350

http://www.intelligent-loans.com [email protected]

Interbay CommercialInterbay Funding Ltd, Cams Hall,Cams Hill, Fareham, Hampshire,PO16 8AB

0845 9003300




020 32017700


Investec Asset Financeand Leasing

2 Gresham Street, London, EC2V 7QP

020 75974000


Investec Bank plc2 Gresham Street, London, EC2V 7QP

020 75974000



2 Gresham Street, London, EC2V 7QP

020 75975970

http://www.investec.com [email protected]

InvestingZone8-12 New Bridge Street, London,EC4 6AL


InvestmentManagementAssociation (IMA)

65 Kingsway, London, WC2B 6TD020 78310898


IQ Capital Partners LLP85 Regent Street, Cambridge, CB2 1AW

01223 345616

http://www.iqcapital.co.uk [email protected]

ISIS EP LLP2nd Floor, 100 Wood Street,London, EC2V 7AN

020 75065600


Isis Innovation LtdEwert House, Ewert Place,Summertown, Oxford, OX2 7SG

01865 280830


Islamic Bank of Britainplc

97-99 Whitechapel Road,Whitechapel, London, E1 1DT

0845 6060786



http://www.icaew.com

http://www.icm.org.uk

http://www.iod.com

http://www.ifa.org.uk

http://www.financialplanning.org.uk

http://www.institute.ifslearning.ac.uk

http://www.intelcapital.com

http://www.intelligent-loans.com

http://www.interbayuk.com





http://www.investingzone.com

http://www.investmentfunds.org.uk

http://www.iqcapital.co.uk

http://www.isisep.com

http://www.isis-innovation.com


Directory

183


J.C. RathboneAssociates Limited

12 St. James' Square, London,SW1Y 4LB

020 74933310

http://www.jcra.co.uk [email protected]

Javelin VenturesLimited

46 Dorset Street, London, W1 7NB

020 74867456

http://www.javelin-ventures.com [email protected]

Jones Day21 Tudor Street, London, EC4Y ODJ

020 70395959

http://www.jonesday.com/[email protected]

Jordan InternationalBank plc

Moreau House, 112-120Brompton Road, Knightsbridge,London, SW3 1JJ

020 31440200


JP Morgan Chase & CoEMEA Headquarters, 25 BankStreet, Canary Wharf, London,E14 5JP

020 77772000


JP Morgan Europe LtdTrinity Tower, 9 Thomas MoreStreet, London, E1 9YT

020 77772000

http://www.jpmorgan.com/emea

JP Morgan Securities60 Victoria Embankment, London,EC4Y OJP

020 77772000


JSM Finance (RegencyFactors)

2 Regency Chambers, Jubilee Way,Bury, Lancashire, BL9 OJW

0845 4502220


Julian Hodge Bank29 Windsor Place, Cardiff, CF10 3UR

0292 0220800

http://www.julianhodgebank.com [email protected]

Jumbo Bridging145-157 St. John Street, London,EC1V 4PW

0844 3576095


J

KCompany name Address Telephone Website/email

KBC Bank111 Old Broad Street, London,EC2N 1FB

020 76385812



3-5 Barrett Street, St.Christopher's Place, London, W1U1AY

020 78360000

http://www.kelsoplace.com [email protected]

Kerman & Co LLP 200 Strand, London, WC2R 1DJ020 75397272

http://www.kermanco.com [email protected]

Kexim Bank UK3rd Floor, Moorgate Hall, 155Moorgate, London, EC2M 6XB

020 75625500

http://www.koreaexim.go.kr/[email protected]

http://www.jcra.co.uk

http://www.javelin-ventures.com

http://www.jonesday.com/london



http://www.jpmorgan.com/emea




http://www.jumbobridging.co.uk



http://www.kermanco.com

http://www.koreaexim.go.kr/uk


184


Key Factors LtdCharnwood Beech Lane,Woodcote, Reading, Berkshire,RG8 OPX

014 91682133


Kingdom Bank LtdRuddington Fields Business Park,Mere Way, Ruddington,Nottingham, NG11 6JS

0115 9217250


Kings Park Capital1st Floor, 35-36 GreatMarlborough Street, London, W1F 7JF

020 30043420


Kingsley Asset FinanceLtd

Sterling House, 2-4 Mill Lane,Whittle Le Woods, Chorley, PR6 7LX

01257 232224

http://www.kingsley-finance.co.uk [email protected]

Kinloch CorporateFinance Ltd

68 Lombard Street, London, EC3V 9LJ

020 71181442


KIS Bridging Loans Wentwood Cwrt, Usk, NP15 1LF080 06446555


Kleinwort BensonPrivate Bank Ltd

14 St. George Street, London, W1S 1FE

020 32077000


Koan Ventures3 Postmasters Lodge, ExchangeWalk, London, HA5 5AD

020 8866142807725 207099


KPMG8 Salisbury Square, London, EC4Y 8BB

020 73111000


KSA GroupLevel 7, Tower 42, 25 Old BroadStreet, London, EC2N 1HN

0800 9700539


LCompany name Address Telephone Website/email



0161 9337097


Law SocietyThe Law Society's Hall, 113Chancery Lane, London, WC2A 1PL

020 70421222


Lazard & Co Limited50 Stratton Street, London, W1J 8LL

020 71872000


LDCOne Vine Street, London, W1J OAH

020 77583680

http://www.ldc.co.uk [email protected]

Leaseplan UK Ltd165 Bath Road, Slough, Berkshire,SL1 4AA

0844 4935810


Legion Trade FinanceLtd

44 Bell Street, Henley-on-Thames,Oxon, RG9 2BG

09491 877234



http://www.kingdombank.co.uk

http://www.kingsparkcapital.com

http://www.kingsley-finance.co.uk

http://www.kinlochfinance.co.uk

http://www.kisbridgingloans.co.uk


http://www.koanventures.co.uk

http://www.kpmg.co.uk



http://www.lawsociety.org.uk


http://www.ldc.co.uk


http://www.legiontradefinance.com

Directory

185


LendInvest101 New Cavendish Street,London, W1W 6XH

020 71181900

http://www.lendinvest.com [email protected]


5 St. John's Lane, London, EC1M 4BH

020 70602999



01273 716200


Leumi Invoice FinancePacific House, 126 Dyke Road,Brighton, East Sussex, BN1 3TE

01273 716200


Lex AutoleaseLatimer House, Anglo Office Park,White Lion Road, Amersham, HP7 9JQ

0844 3352300


LGV CapitalOne Coleman Street, London,EC2R 5AA

020 31242900


Liberty Leasing plcLiberty House, 37 Mitchell Point,Ensign Way, Hamble,Southampton, SO31 4RF

023 80456565


Lion Capital21 Grosvenor Place, London,SW1X 7HF

020 72012200

http://www.lioncapital.com [email protected]



0800 1694356




0800 1694356


Lloyds Banking Groupplc


020 76261500


Lombard3 Princess Way, Redhill, Surrey,RH1 1NP

01737 774111


London BusinessAngels

100 Pall Mall, London, SW1Y 5NQ

020 73215672

http://www.lbangels.co.uk [email protected]

London Chamber ofCommerce andIndustry (LCCI)

33 Queen Street, London, EC4R 1AP

020 72484444


London Seed CapitalLimited


020 70892338


Longbow Capital LLP19a Floral Street, Barnham Broom,Honingham Road, Norwich, NR9 4DD

01603757509


Lowry CapitalManchester International OfficeCentre, Styal Road, Manchester,M22 5WB

0161 4997912


Ludgate InvestmentsLimited

1st Floor, 52 Jermyn Street,London, SW1Y 6LX

020 34781000

http://www.ludgate.com [email protected]

Lupton FawcettDenison Till

Yorkshire House, East Parade,Leeds, LS1 5BD

011 32802000

http://www.luptonfawcett.com [email protected]

Lyceum CapitalPartners LLP

Burleigh House, 357 Strand,London, WC2R OHS

020 76322480


http://www.lendinvest.com





http://www.lgvcapital.com

http://www.libertyleasing.co.uk

http://www.lioncapital.com





http://www.lbangels.co.uk

http://www.londonchamber.co.uk

http://www.londonseedcapital.com

http://www.longbow.co.uk

http://www.lowrycapital.co.uk

http://www.ludgate.com

http://www.luptonfawcett.com

http://www.lyceumcapital.co.uk


186


M&S BankKings Meadow, Chester, CH99 9FB

0845 9000900



020 78319222


Macquarie GroupLondon

Ropemaker Place, 28 RopemakerStreet, London, EC2Y 9HD

020 30372000


MADISTON –LendLoanInvest

41 Ashley Road, Walton onThames, Surrey, KT12 1HG

020 33626521


Malayan BankingBerhad

Maybank London, 74 ColemanStreet, London, EC2R 5BN

020 76380561


ManagementConsultanciesAssociation (MCA)

5th Floor, 36-38 Cornhill, London,EC3V 3NG

020 76457950

http://www.mca.org.uk [email protected]

Manta Finance PO Box 5264, Brighton, BN50 9BEhttp://[email protected]


http://www.marketinvoice.com [email protected]

Marlin Equity PartnersLtd

85 Buckingham Gate, London,SW1E 6PD

020 36680022


Marsh & McClennanInsurance

Tower Place, Lower Thames Street,London, EC3R 5BU

020 73571000


Mashreq Bank PSC1st Floor, 2 London Wall Buildings,1-5 London Wall, London, EC3M 5PP

020 73824000


MasthavenMimosa House, 12 Princes Street,London, W1B 2LL

020 70362000


Maven Capital PartnersFifth Floor, 1-2 Royal ExchangeBuildings, London, EC3V 3LF

020 31022750

http://www.mavencp.com [email protected]

Maven Ventures33 Glasshouse Street, London, W1B 5DG

020 31706116

http://www.maven-ventures.com [email protected]


01772 788888


MazarsTower Bridge House, St.Katharine's Way, London, EW1 1DD

020 70634000

http://www.mazars.co.uk [email protected]

MBNA Europe Bank LtdPO Box 1004, Chester BusinessPark, Wrexham Road, Chester,CH4 9WW

0800 062062

http://www.mbna.com

Melli Bank plc (Iranian)98a Kensington High Street,London, W8 4SG

020 76003636

http://www.mellibank.co.uk [email protected]

M






http://www.mca.org.uk

http://www.mantafinance.com


http://www.marlinequity.com



http://www.masthaven.co.uk

http://www.mavencp.com

http://www.maven-ventures.com


http://www.mazars.co.uk

http://www.mbna.com

http://www.mellibank.co.uk

Directory

187


Methodist Chapel AidLtd

1 Telford Terrace, AlbermarleRoad, York, YO24 1DQ

01904 622150



0345 08 08500


Mezzanine DebtFinance

Contact form on website020 75588735


MicroGeniusHolyoake House, Hanover Street,Manchester, M60 0AS


Midven Ltd2nd Floor, Cavendish House, 39-41 Waterloo Street, Birmingham,B2 5PP

012 17101990

http://www.midven.com [email protected]

Minerva Business AngelNetwork

University of Warwick SciencePark, The Venture Centre, SirWilliam Lyons Road, Coventry,CV4 7EZ

024 76323114


Mint Bridging LtdPeel House, 30 The Downs,Altrincham, Cheshire, WA14 2PX

0844 4156500


Mizrahi Tefahot BankLtd (Israel)

30 Old Broad Street, London,EC2N 1HQ

020 74480600


Mizuho Bank LtdBracken House, One Friday Street,London, EC4M 9JA

020 70124000


Mortgage Works, The(TMW)

Portman House, Richmond Hill,Bournemouth, BH2 6EP

0845 4545800


MMC Ventures Ltd2 Kensington Square, London, W8 5EP

020 79382220


MML Capital PartnersLLP

Grand Buildings, 1-3 Strand,London, WC2N 5HR

020 70242200

http://www.mmlcapital.com [email protected]

Montagu Private EquityLLP

2 More London Riverside, London,SE1 2AP

0207 3369955

http://www.montagu.com [email protected]

Montello BridgingFinance

4 Bentinck Street, London, W1U 2EF

0800 1303388


Morgan Stanley BankInternational Ltd

25 Cabot Square, Canary Wharf,London, E14 4QA

020 74258000


Morgan Stanley PrivateEquity

20 Bank Street, Canary Wharf,London, E14 4AD

0207 4255000


Mosaic Private Equity 10th Floor, 3 Hardman Street,Spinningfields, Manchester,M3 3HF

0161 9321475

http://www.mosaicpe.com [email protected]

MT Finance11 Weymouth Street, London, W1W 6DD

020 72862837

http://www.mt-finance.com [email protected]

MZ FactoringStag House, 420 Linthorpe Road,Middlesborough, TS5 6HW

016 42852222


http://www.methodistchapel.co.uk



http://www.microgenius.org.uk

http://www.midven.com

http://www.minvera.uk.net

http://www.mintbridging.co.uk




http://www.mmcventures.com

http://www.mmlcapital.com

http://www.montagu.com




http://www.mosaicpe.com

http://www.mt-finance.com



188




020 72805000



82 King Street, Manchester, M2 4WQ

0161 8273800



0121 2011746 020 37018000


NabarroLacon House, 84 Theobald's Road,London, WC1X 8RW

020 75246000

http://www.nabarro.com [email protected]

National Association ofCommercial FinanceBrokers (NACFB)

Hamilton House, 1 TempleAvenue, London, EC4Y 0HA

020 74892056

http://www.nacfb.org [email protected]

National Bank ofCanada

71 Fenchurch Street, 11th Floor,London, EC3M 4HD

020 72656500

http://www.nbc.ca

National Bank of Egypt(UK) Ltd

Trafalgar House, 11 WaterlooPlace, London, SW1Y 4AU

020 73891200

http://www.nbeuk.com [email protected]

National Bank ofGreece plc

75 King William Street, London,EC4N 7BE

020 76263222

http://www.nbg.gr

National Bank ofKuwait (International)plc

13 George Street, London, W1U 3QJ

020 72242277

http://www.nbk.com/uk [email protected]

Nationwide BuildingSociety CommercialFinance

Kings Park Road, Moulton Park,Northampton, NN3 6NW

0800 665511



9 Osier Way, Olney Office Park,Olney, MK46 5FP

01234 240155


NatWest Bank plc2nd Floor, Waterhouse Square,138-142 Holborn, London, EC1N 2TH

0800 0732256




0800 0732256


NBGI Private Equity (National Bank ofGreece)

Old Change House, 128 QueenVictoria Street, London, EC4V 4BJ

020 76615678

http://www.nbgipe.co.uk [email protected]

Nedbank LtdOld Mutual Place, 2 Lambeth Hill,London, EC4V 4GG

020 70023400


Nesta Investments1 Plough Place, London, EC4A 1DE

020 74382500


Next GenerationFinance Consortium(NGFC)


Next Wave Partners42 Wigmore Street, London, W1U 2RY

020 30057544


N




http://www.nabarro.com

http://www.nacfb.org

http://www.nbc.ca

http://www.nbeuk.com

http://www.nbg.gr

http://www.nbk.com/uk





http://www.nbgipe.co.uk


http://www.nesta.org.uk

http://www.ngfc.org.uk

http://www.nextwavepartners.co.uk

Directory

189


Nomura BankInternational plc


020 75212000


Nomura Cleantech VCFund


020 75212000


NorthEdge Capital LLPVantage Point, Hardman Street,Manchester, M3 3HF

0845 3409600


Northern Trust50 Bank Street, Canary Wharf,London, E14 5NT

020 79822000


NorthStar Ventures5th Floor, Maybrook House, 27-35Grainger Street, Newcastle-upon-Tyne, NE1 5JE

0191 2292770


Northwest BusinessAngels

Manchester Solutions Lee House,90 Great Bridgewater Street,Manchester, M1 5JW

0161 3593050


Norton Rose Fulbright LLP

3 More London Riverside, London,SE1 2AQ

020 78391980

http://www.nortonrosefulbright.com/[email protected]



01733 372425



Greener House, 66-68 Haymarket,London, SW1Y 4RF

020 78391980


NVM Private EquityLimited

Rotterdam House, 116 Quayside,Newcastle upon Tyne, NE1 3DY

0191 2446000

http://www.nvm.co.uk [email protected]

OCompany name Address Telephone Website/email

Oakbridge FinancialServices

3rd Floor, 94-96 Wigmore Street,London, W1U 3RF

0845 2050505

http://www.oakbridge.co.uk [email protected]

Oakley Capital Ltd3 Cadogan Gate, London, SW1X 0AS

020 77666900


Octopus InvestmentsLtd

20 Old Bailey, London, EC4M 7AN0800 3162298

http://www.octopusinvestments.com



Olswang90 High Holborn, London, WC1V 6XX

020 70673000

http://www.olswang.com [email protected]

Omers Private EquityUK Ltd

6 New Street Square, New FetterLane, London, EC4A 3BF

020 78228300

http://www.omerspe.com [email protected]



http://www.northedgecapital.com


http://www.northstarventures.co.uk


http://www.nortonrosefulbright.com/uk



http://www.nvm.co.uk

http://www.oakbridge.co.uk

http://www.oakleycapital.com

http://www.octopusinvestments.com


http://www.olswang.com

http://www.omerspe.com


190


Omni CapitalOak House, Reeds Crescent, Watford,Hertfordshire, WD17 4QP

0333 2401792


OneSavings Bank plcReliance House, Sun Pier, Chatham, Kent,ME4 4ET

01634 848944

http://www.osb.co.uk [email protected]

Opus Restructuring LLP(London)

One Euston Square, 40 Melton St, London,NW1 2FD

020 7268333307947 350890


Opus Restructuring LLP(Milton Keynes)

4th Floor, Exchange House, 494 MidummerBoulevard, Milton Keynes, MK9 2EA

01908 30609007813 216406


Osborne Clarke One London Wall, London, EC2Y 5EB020 71057000


Overseas Trade FinanceMarble Arch Tower, 55 Bryanston Street,London, W1H 7AJ

020 77237011

http://www.oftonline.co.uk [email protected]

Oxford Capital Partners 201 Cumnor Hill, Oxford, OX2 9PJ01865 860760


Oxford InvestmentOpportunity Network(OION)

Oxford Centre for Innovation, New Road,Oxford, OX1 1BY

01865 261499

http://www.oion.co.uk [email protected]

Oxford Spin-Out EquityManagement LLP

Magdalen Centre, Robert Robinson Avenue,Oxford Science Park, Oxford, OX4 4GA

01865784206

http://www.osem.ox.ac.uk [email protected]

PCompany name Address Telephone Website/email

Pacific Investments PLC124 Sloane Street, London, SW1X 9BY

020 72252250


Palamon CapitalPartners LP

Cleveland House, 33 King Street,London, SW1Y 6RJ

020 77662000

http://www.palamon.com [email protected]

Palatine Private EquityLLP

The Zenith Building, 26 SpringGardens, Manchester, M2 1AB

016 12144730


Panel Financial UK PO Box 63, Malvern, WR14 2YS0168 4577675

http://www.panel-financial.co.uk [email protected]

Panoramic GrowthEquity

1st Floor, 140 West George Street,Glasgow, G2 2HG

0141 3315100

http://www.pgequity.com [email protected]

Par Equity LLP3A Dublin Meuse, Edinburgh, EH3 6NW

013 15560044


Parallel Private EquityLLP

167-169 Wardour Street, London, W1F 8WR

020 74949074


Partnership Finance LtdRiverside House, River Lawn Road,Tonbridge, Kent, TN9 1EP

01732 783533


Patronomy Contact via website020 32900809

http://www.patronomy.com [email protected]

Peak Cashflow6C St. Michaels Court, WarstoneParade East, Birmingham, B18 6NR

012 12367375


http://www.omnicapital.co.uk

http://www.osb.co.uk



http://www.osborneclarke.com

http://www.oftonline.co.uk

http://www.oxcp.com

http://www.oion.co.uk

http://www.osem.ox.ac.uk

http://www.pacificinvestments.com

http://www.palamon.com

http://www.palatinepe.com

http://www.panel-financial.co.uk

http://www.pgequity.com

http://www.parequity.com

http://www.parallelprivateequity.com

http://www.partnershipfinance.co.uk

http://www.patronomy.com


Directory

191







01932 24481007778 670236


Peninsula Finance plc26 Lockyer Street, Plymouth,Devon, PL1 2QW

01752 292568


Pension-led FundingThe Pavillions, Eden Park, HamGreen, Bristol, BS20 0DD

0800 0147099


Penta Capital LLP7th Floor, 90 Long Acre, London,WC2 9RA

0203 3260350


Pentech VenturesOne Alfred Place, London, WC1E 7EB

020 31287473

http://www.pentechvc.com [email protected]

Persia InternationalBank plc

6 Lothbury, London, EC2R 7HH020 76068521

http://www.persiabank.co.uk [email protected]

Personal FinanceSociety, The (PFS)

20 Aldermanbury, London, EC2V 7HY

020 85300852

http://www.thepfs.org [email protected]

Philippine NationalBank (Europe) plc (PNK)

5-7 Hillgate Street, London, W8 7SP

020 73132322


Phoenix Equity Partners25 Bedford Street, London, WC2E 9ES

020 74346999

http://www.phoenix-equity.com [email protected]

Piccadilly CapitalLondon LLP

18b Charles Street, London, W1J 5DU

020 31784881

http://www.piccadilly-capital.com [email protected]

Pink Pig Loans70 High Street, Barry, Vale ofGlamorgan, CF62 7DW

0800 0353735


Pinsent Masons30 Crown Place, London, EC2A 4ES

020 74187000


PlanWriter 6 Elstree House, Elstree, WD6 1SD020 82266667

http://www.planwriter.co.uk [email protected]

Platform Black1 Winnall Valley Road, Winchester,SO23 0LD

08434 610100


Platina Partners LLP20 Manchester Square, London,W1U 3PZ

020 70429600


Plunkett Yates7 Southernhay West, Exeter, EX1 1JG

01392247444

http://www.plunkett-yates.co.uk [email protected]

Pluto Finance (UK) LLP9 Berkeley Street, London, W1J 8DW

020 74422100

http://www.pluto-finance.com [email protected]

PNC Business Credit8-14 The Broadway, HaywardsHeath, West Sussex, RH16 3AP

01444 475820


Portman Asset FinanceLtd

18 Osyth Close Brackmills BusinessPark, Northampton, NN4 7DY

0844 8008825


Portman BridgingFinance

116 West Heath Road, London,NW3 7TU

020 82093822


Positive CashflowFinance Ltd

Castlefield House, Liverpool Road,Manchester, M3 4SB

0161 8288100


http://www.p2pfinanceassociation.org



http://www.pensionledfunding.com

http://www.pentacapital.com

http://www.pentechvc.com

http://www.persiabank.co.uk

http://www.thepfs.org

http://www.pnbeurope.com

http://www.phoenix-equity.com

http://www.piccadilly-capital.com

http://www.pinkpigloans.co.uk

http://www.pinsentmasons.com

http://www.planwriter.co.uk


http://www.platinapartners.com

http://www.plunkett-yates.co.uk

http://www.pluto-finance.com

http://www.pncbusinesscredit.co.uk

http://www.portmanassetfinance.co.uk

http://www.portmanfinance.co.uk

http://www.positivecashflowfinance.co.uk


192


Positive CommercialFinance

Warth Business Centre, WarthIndustrial Park, Warth Road, Bury,BL9 9NB

0161 7630321

http://www.positivecommercialfinance.co.ukinfo@positivecommercialfinance.co.uk

Practical Law CompanyLtd

19 Hatfields, London, SE1 8DJ020 72021220

http://www.practicallaw.com [email protected]


0800 1164385


PricewaterhouseCoopersLLP

1 Embankment Place, London,WC2N 6RH

020 75835000

http://www.pwc.com/cf [email protected]

Pricoa Capital Group47 King William Street, London,EC4R 9AF

020 76218421


Primary Capital LimitedAugustine House, Austin Friars,London, EC2N 2HA

020 79204800


Principality BuildingSociety

PO Box 89, Queen Street, Cardiff,CF10 1UA

0845 0450006


Property Investor LoansLake View, Lakeside, Cheadle,Cheshire, SK8 3GW

0161 333195207788970 694

http://www.propertyinvestorloans.co.ukchris.baguley@propertyinvestorloans.co.uk

Providence Equity LLP28 St. George Street, London, W1S 2FA

020 75148800

http://www.provequity.com [email protected]

Pulse Cashflow FinanceLtd

Level 3, Belvedere, Basing View,Basingstoke, RG21 4HG

0845 5397003


Punjab National Bank(International) Ltd UK

1 Moorgate, London, EC2R 6JH020 77969600

http://www.pnbint.com [email protected]

QCompany name Address Telephone Website/email

Qatar National BankSAQ

51 Grosvenor Street, London,W1K 3HH

020 76472600

http://www.qnb.com.qa [email protected]

QIB (UK) 4th Floor, Berkeley Square House,Berkeley Square, London, W1J 6BX

020 72687200

http://www.qib-uk.com [email protected]

Quantuma Restructuring(Brighton)

3rd Floor, Lyndean House, 43/46Queens Road, Brighton, BN1 3XB

01273 32240007435 262821


Quantuma Restructuring(Marlow)

81 Station Road, Marlow, SL7 1NS

01628 47810007860 322515


http://www.positivecommercialfinance.co.uk

http://www.practicallaw.com


http://www.pwc.com/cf

http://www.pricoacapital.com

http://www.primaryeurope.com


http://www.propertyinvestorloans.co.uk

http://www.provequity.com

http://www.pulsefs.co.uk

http://www.pnbint.com

http://www.qnb.com.qa

http://www.qib-uk.com



Directory

193


Rabobank InternationalUK

Thames Court, 1 Queenhithe,London, EC4V 3RL

020 78093000


Ranworth CapitalThe Center, 201-203 LondonRoad, East Grinstead, WestSussex, RH19 1HA

01342 778000


Raphaels Bank19-21 Shaftesbury Avenue,London, W1D 7ED

020 72925400

http://www.raphaelsbank.com [email protected]

RateSetter406 Great Guildford BusinessSquare, 30 Great Guildford Street,London, SE1 OHS

020 31426226

http://www.ratesetter.com [email protected]

Rathbones InvestmentManagement Ltd

1 Curzon Street, London, W1J 5FB020 73990000



0800 716313

http://www.rbsif.co.uk [email protected]

RCapital Partners LLP5th Floor 24 Old Bond Street,Mayfair, London, W1S 4AW

0845 2939888


rebuildingsociety.com 16 Queen Square, Leeds, LS2 8AJ0113 8150244


Redd Factors LtdShalford Dairy, Wasing Estate,Aldermaston, Berkshire, RG7 4NB

011 89712331


Reed Elsevier Ventures 1-3 Strand, London, WC2N 5JR020 71665665


ReevesThird Floor, 24 Chiswell Street,London, EC1Y 4YX

020 73821820

http://www.reeves.co [email protected]


0845 4502220



020 85921414


Relendex55 Brook’s Mews, London, W1K 4EF

020 74833456

http://www.relendex.com [email protected]

Reliance Bank LtdFaith House, 23-24 Lovat Lane,London, EC3R 8EB

020 73985400


Resource/PharmacyPartners

Studio 4, Power Road Studios, 114Power Road, London, W4 5PY

0808 1445524




R


Quantuma Restructuring(Southampton)

30 Oxford Street, Southampton,SO14 3DJ

023 8033646407745 548067


Quilvest UK Ltd46 Albermarle Street, London,W1S 4JN

020 72901710

http://www.quilvest.com [email protected]


http://www.ranworthcapital.com

http://www.raphaelsbank.com

http://www.ratesetter.com

http://www.rathbones.com



http://www.rebuildingsociety.com


http://www.reedelsevierventures.com

http://www.reeves.co



http://www.relendex.com

http://www.reliancebankltd.com

http://www.resourcepartners.com



http://www.quilvest.com


194





Riyad BankRiyad Bank House, 17B CurzonStreet, London, W1J 5HX

020 78304042

http://www.riyadbank.com/English/InternationalBanking/[email protected]

Root Capital LLPFloor 5, Farringdon Place, 20Farringdon Road, London, EC1M 3HE

020 30961970

http://www.rootcapital.co.uk [email protected]

Rosenblatt9-13 St. Andrew Street, London,EC4A 3AF

020 79550880

http://www.rosenblatt-law.co.uk [email protected]

Royal Bank of CanadaEurope Ltd (RBC)

Riverbank House 2 Swan Lane,London, EC4R 3BF

020 76534000


Royal Bank of Scotland 36 St. Andrew Square, Edinburgh,EH2 2YB

0800 0732257


Royal Bank of ScotlandInvoice Finance

42 St. Andrews Square,Edinburgh, EH2 2YE

0800 716313


Royal Society EnterpriseFund

6-9 Carlton House Terrace,London, SW1Y 5AG

020 74512500


Rutland Partners LLPCunard House, 15 Regent Street,London, SW1Y 4LR

020 74510700


SCompany name Address Telephone Website/email

Sainsbury's Bank plc 33 Holborn, London, EC1N 2HT0500 40 5060


Samba Financial GroupNightingale House, 65 CurzonStreet, London, NW1 3AN

020 76598200



Abbey National House, 2 TritonSquare, Regents Place, London,NW1 3AN

0845 6070666


Santander Corporate298 Deansgate, Manchester, M3 4HH

0161 9533287


Santander Corporate &Commercial Banking

2/F Victory House, Vision Park,Chivers Way, Histon,Cambridgeshire, CB24 9ZR

01223 266200




0845 6070666


Santander InvoiceFinance


0121 2121112

http://www.liquidity.co.uk [email protected]

Santander TradeFinance


07920 504678


Santander UK Plc2 Triton Square, Regents Place,London, NW1 3AN

0870 6076000


Schroder & Co Ltd31 Gresham Street, London, EC2V 7QA

020 76586000


Scotiabank Europe plc201 Bishopsgate, London, EC2M 3NS

020 76385644



http://www.riyadbank.com/English/Internation

http://www.rootcapital.co.uk

http://www.rosenblatt-law.co.uk




http://www.royalsociety.org

http://www.rutlandpartners.com







http://www.liquidity.co.uk





Directory

195


Scottish Widows Bankplc

15 Dalkeith Road, Edinburgh,Scotland, EH16 5BU

0131 6555000


Secure Trust Bank plcOne Arleston Way, Solihull, WestMidlands, B90 4LH

0800 6942148


Secured BridgingFinance

Challoner House, 19 ClerkenwellClose, London, EC1R 0RR

033 34444321


Seedrs2 Chapel Place, Rivington Street,London, EC2A 3DG

020 70338670

http://www.seedrs.com [email protected]

SG Hambros Bank Ltd Exchange House, 12 PrimroseStreet, London, EC2A 2EG

020 75973000

http://www.sghambros.com [email protected]

Shackleton VenturesLimited

14/15 Jewry Street, Winchester,Hampshire, SO23 8RZ

01962 842621


Shanghai CommercialBank Ltd

65 Cornhill, London, EC3V 3NB020 73698888


ShareIn5th Floor, 125 Princes Street,Edinburgh, EH2 4AD


Shawbrook AssetFinance

Shawbrook House, DorkingBusiness Park, Station Road,Dorking, Surrey, RH4 1HJ

0845 6040970


Shawbrook BankLutea House, The Drive, GreatWarley, Brentwood, Essex, CM13 3BE

01277 751110


Shire Leasing Plc1 Calico Business Park, SandyWay, Amington Park, Tamworth,Staffordshire, B77 4BF

0182768939

http://www.shireleasing.co.uk [email protected]

Siemens FinancialServices Ltd

Sir William Siemens Square,Frimley, Camberley, Surrey, GU16 8QD

01276 696000

http://www.siemens.co.uk/[email protected]

Sigma8Grosvenor House, 66-67 AtholStreet, Douglas, Isle of Man, IM1 1JE

01624 675610

http://www.sigma-8.com [email protected]

Silicon Beach BusinessAngels

96 Castle Lane West,Bournemouth, Dorset, BH9 3JU

01202 706975

http://www.siliconbeach.pro [email protected]

Silverburn Finance (UK)Ltd

76 Winter Hey Lane, Horwich,Bolton, Lancashire, BL6 7PQ

01204 669666


Silverfleet CapitalPartners LLP

5 Fleet Place, London, EC4M 7RD020 78221000


Simmons & SimmonsCityPoint, One Ropemaker Street,London, EC2Y 9SS

020 76282020




0845 6029354


SL Capital Partners LLP1 George Street, Edinburgh,Lothian, EH2 2LL

0131 2450055


Slaughter and MayOne Bunhill Row, London, EC1Y 8YY

020 76001200


SME Asset Finance LtdKings Court, 2625 The Crescent,Birmingham Business Park,Birmingham, B37 7YE

0121 7880333

http://www.smeif.com [email protected]


http://www.securetrustbank.com

http://www.sbfinvestments.com

http://www.seedrs.com

http://www.sghambros.com

http://www.shackletonventures.com



http://www.shawbrookassetfinance.co.uk


http://www.shireleasing.co.uk

http://www.siemens.co.uk/financialservices

http://www.sigma-8.com

http://www.siliconbeach.pro


http://www.silverfleetcapital.com

http://www.simmons-simmons.com



http://www.slaughterandmay.com



196


SME Invoice FinanceLtd

Chertsey House, 56-58 ChertseyStreet, Guildford, Surrey, GU1 4HL

01483 531100

http://www.smeif.com [email protected]

Smith & WilliamsonCorporate Finance

25 Moorgate, London, EC2R 6AY020 71314000


Société GénéraleSG House, 41 Tower Hill, London,EC3N 4SG

020 76766000


Solent InnovationBusiness Angels

1 Hampshire Terrace, Portsmouth,Hampshire, PO1 2QF

023 92847001


Solicitors RegulationAuthority (SRA)

The Cube, 199 Wharfside Street,Birmingham, B1 1RN

0870 6062555

http://www.sra.org.uk [email protected]

Sonali Bank (UK) Ltd29-33 Osborn Street, London, E1 6TD

020 78778200


Southern Finance CoLtd

Southern House, 80 Shirley Road,Southampton, SO15 3EY

023 80226745


Southern InvestmentNetwork

Chapelworth House, 1Chatsworth Road, Worthing, WestSussex, BN11 1LY

01273 931903


Sovereign CapitalPartners LLP

25 Victoria Street, London, SW1H OEX

020 73408800


Spirit Capital PartnersLLP

5th floor, 2 Wellington Place,Leeds, LS1 4AP

0113 3662045


SquareknotSuite 2B, 30 Gordon Street,Glasgow, G1 3PU


Standard Bank plc20 Gresham Street, London, EC2V 7JE

020 31455000


Standard CharteredBank

1 Basinghall Avenue, London,EC2V 5DD

020 78858888


STAR Capital Partners6th Floor, 33 Cavendish Square,London, W1G OPW

020 70168500


Stargate CapitalManagement Ltd

4th Floor, 17 St. Helen’s Place,London, EC3A 6DG

020 70120090


State Bank of India630-632 Finchley Road, London,NW11 7RR

020 84583856




0845 1705600


State Street Bank &Trust Co

20 Churchill Place, Canary Wharf,London, E14 5HJ

020 33957000


Sterling Trade FinanceLtd

49 Berkeley Square, London, W1J 5AZ

020 78788934


Stirling Square CapitalPartners LLP

2 Basil Street, London, SW3 1AA020 78084130


StrataDavon Ltd, 3 Walnut Court, RoseStreet, Wokingham, RG40 1XU

011 89783955

http://www.davonltd.com [email protected]


http://www.smith.williamson.co.uk


http://www.solentinnovation.com

http://www.sra.org.uk



http://www.southerninvestmentnetwork.co.uk

http://www.sovereigncapital.co.uk

http://www.spiritcapital.co.uk

http://www.squareknot.co.uk



http://www.star-capital.com

http://www.stargatecapital.co.uk

http://www.sbiuk.com



http://www.sterlingtradefinance.com

http://www.stirlingsquare.com

http://www.davonltd.com

Directory

197


Strathtay VenturesMerlin House, Necessity Brae,Perth, PH2 0PF

01738 587555


Sumitomo MitsuiBanking CorporationEurope Ltd

99 Queen Victoria Street, London,EC4V 4EH

020 77861000


Sumitomo Trust &Banking Co Ltd

Vintners' Place, 68 Upper ThamesStreet, London, EC4V 3BJ

020 72463600


Summit AssetManagement Ltd

Melita House, 124 Bridge Road,Chertsey, Surrey, KT16 8LA

01932 575888


Summit Group Ltd10 Cloisters House, 8 BatterseaPark Road, London, SW8 4BG

020 77204262


Summit Partners Ltd3rd Floor, Queensberry House, 3Old Burlington Street, London,W1S 3AE

020 76597501


Sun European Partners1st Floor, 2 Park Street, London,W1K 2HX

020 73181100


Supreme InternationalFinance Ltd

City House, 58 Swan Street,Manchester, M4 5JU

0161 8342288


Sussex Place Ventures18-20 Huntsworth Mews, London,NW1 6DD

020 70000022

http://www.spventures.co.uk [email protected]

Swift Bridging Finance1 Berkeley Street, London, W1J 8DJ

0800 262135


Syndicate Bank2A East Cheap, London, EC3M 1LH

020 76269681


Syndicate RoomideaSpace, EntrepreuneurshipCentre, 3 Charles Babbage Road,Cambridge, CB3 OGT


Synova Capital LLP41 Dover Street, London, W1S4NS

020 74915705

http://www.synova-capital.com [email protected]

Syscap LtdWimbledon Bridge House, 1Hartfield Road, London, SW19 3RU

020 82541975


TCompany name Address Telephone Website/email

T C Ziraat BankBasildon House, 7-11 Moorgate,The City, London, EC2R 6DB

020 76004985

http://www.ziraatbank.co.uk [email protected]

Tandem Invoice FinanceLtd

St. John's House, St. John's Street,Chichester, West Sussex, PO19 1UU

0845 6188515


TD Waterhouse BankNV

Exchange Court, DuncombeStreet, Leeds, LS1 4AX

0845 6076002


http://www.braveheartgroup.co.uk



http://www.summitasset.co.uk

http://www.summit-group.co.uk

http://www.summitpartners.com

http://www.suneuropeanpartners.com

http://www.supremefinance.co.uk

http://www.spventures.co.uk

http://www.swiftbridging.com

http://www.syndicatebank.co.uk

http://www.syndicateroom.com

http://www.synova-capital.com


http://www.ziraatbank.co.uk




198


TeamFactors LtdMonaco House, Monaco WorksStation Rd, Kings Langley, WD48LQ

01923 277880


Terra Firma CapitalPartners Limited

2 More London Riverside, London,SE1 2AP

020 70159500

http://www.terrafirma.com [email protected]

Tesco BankInterpoint Building, 22 HaymarketYards, Edinburgh, EH12 5BH

0845 6785678


Thames ValleyInvestment Network(TVIN)

Oxford Centre for Innovation, New Road, Oxford, OX1 1BY

01865 261488

http://www.tvin.co.uk [email protected]

The Access Bank UK4 Royal Court, Gadbrook Way,Gadbrook Park, Northwich,Cheshire, CW9 7UT

0845 2935535


The Growth Academy58 Crown Crescent, Larbert,Falkirk, Scotland, FK5 4XN

07717 316014


The MacDonaldPartnership (TMP)

4th Floor, 100 Fenchurch Street,London, EC3M 5JD

020 32980830


The Norinchukin Bank4th Floor, 155 Bishopsgate,London, EC2M 3YX

020 75886589


The North West FundThe Maltings, 98 WilderspoolCauseway, Warrington, Cheshire,

019 25418232


TheBridgeCrowd Contact via websitehttp://[email protected]

TheCityUK65a Basinghall Street, London,EC2V 5DZ

020 77768970

http://www.thecityuk.com [email protected]

ThinCats.comThe Dovecote Pimlico Farm,Austrey Lane, No Mans Heath,Tamworth, B79 0PF

01827 830864

http://www.thincats.com [email protected]

Thirteen Old SquareChambers

13-14 Old Square, Reception at 14Old Square, Lincolns Inn, London,WC2A 3UE

020 78314445


Tollers SolicitorsMedina House, 312-314 SilburyBoulevard, Milton Keynes, MK92AE

01908396230


Tollers Solicitors2 Castilian Street, Northampton,NN1 1JX

01604258558


Top TechnologyVentures Limited

24 Cornhill, London, EC3V 3ND020 74440050


Tower Bridging LtdBell House, Swan Street, SibleHedingham, Essex, CO9 3RE

01787 469936


TowerBrook CapitalPartners (UK) LLP

Kinnaird House, 1 Pall Mall East,London, SW1Y 5AU

020 74512020


Towerstone PartnersLtd

10 Old Burlington Street, London,W1S 3AG

020 70096800


TPG Capital LLPStirling Square, 5-7 CarltonGardens, London, SW1Y 5AD

020 75446500

http://www.tgp.com [email protected]

http://www.teamfactors.co.uk

http://www.terrafirma.com


http://www.tvin.co.uk

http://www.theaccessbankukltd.co.uk

http://www.thegrowthacademy.com




http://www.thebridgecrowd.com

http://www.thecityuk.com

http://www.thincats.com

http://www.13oldsquare.com



http://www.toptechnology.co.uk

http://www.towerbridging.com

http://www.towerbrook.com

http://www.towerstonepartners.com

http://www.tgp.com

Directory

199




020 76349851


TradeRiver Finance LtdGolden Cross House, 8Duncannon Street, London,WC2N 4JF

020 77887690


Trillion FundNew Zealand House, 80Haymarket, London, SW1Y 4TE

020 77179708

http://www.trillionfund.com [email protected]



TSB Bank plcHenry Duncan House, 120 GeorgeStreet, Edinburgh, EH2 4LH

0131 2254555


TSB Business BankingHenry Duncan House, 120 GeorgeStreet, Edinburgh, EH2 4LH

0845 8353858


TSB CommercialBusiness Banking

Henry Duncan House, 120 GeorgeStreet, Edinburgh, EH2 4LH

0845 8353865


TTP Venture ManagersLtd

Melbourn Science Park,Cambridge Road, Melbourn,Royston, SG8 6EE

01763 262626


Turkish Bank (UK) Ltd84-86 Borough High Street,London, SE1 1LN

020 74035656


Turnaround FundingPainters Hall, Little Trinity Lane,London, EC4V 2AD

0800 3281577


TurnaroundManagementAssociation UK (TMA)

Millenium Bridge House, 2Lambeth Hill, London, EC4V 4AJ

0844 80 40116

http://www.tma-uk.org [email protected]

Turnaround SolutionsBryn Bedw, Llangynhafal, Ruthin,Denbighshire, LL5 1RU

01824 707944


UCompany name Address Telephone Website/email

UBL CommercialBanking



UBL Trade Finance 2 Brook Street, London, W1S 1BQ020 72908034


UBS1 Finsbury Avenue, London, EC2M 2PP

020 75678000

http://www.ubs.com



020 76287222

http://www.businessangelsassociation.org.ukinfo@businessangelsassociation.org.uk


http://www.traderiverfinance.com

http://www.trillionfund.com





http://www.ttpventures.com


http://www.turnaroundfunding.co.uk

http://www.tma-uk.org

http://www.turnaroundsolutions.co.uk



http://www.ubs.com

http://www.businessangelsassociation.org.uk


200



Contact via websitehttp://www.ukcfa.org.uk [email protected]


1 Horse Guards Road, London,SW1A 2HQ

020 72718000


Ulster Bank InvoiceFinance

1st Floor, Donegall Square East,Belfast, N. Ireland, BT1 5UB

028 90276112


Ulster Bank Ltd11-16 Donegall Square East,Belfast, N. Ireland, BT1 5UB

028 90275942


Ultimate Capital GroupTyphoon Business Centre, OakcroftRoad, Chessington, Surrey, KT9 1RH

020 89744705




0800 1217757


UniCredit Bank AGMoor House, 120 London Wall,London, EC2Y 5ET

020 78261500


Unilever Ventures Ltd1st Floor, 16 Charles II Street,London, SW1Y 4QU

020 73216199


Union Bancaire PrivéeUBP

26 St. James's Square, London,SW1Y 4JH

020 73691350


Union Bank of India(UK) Ltd

Senator House, 85 Queen VictoriaStreet, London, EC4V 4AB

020 73324250


Union Bank UK plc14-18 Copthall Avenue, London,EC2R 7BN

020 79206100

http://www.unionbankuk.com [email protected]

United Bank Ltd UK(UBL)






Unity Trust Bank plcCongress House, Third Floor, 23-28 Great Russell Street, London,WC1B 3UB

0845 1401000

http://www.unity.co.uk [email protected]

Universal AcceptancesHexagon House, Gatley Road,Cheadle, Cheshire, SK8 1LZ

0161 7417435



020 74080022



http://www.gov.uk

http://www.invoicefinance.ulsterbank.co.uk


http://www.ultimatecapital.co.uk



http://www.unileverventures.com


http://www.unionbankofindia.com

http://www.unionbankuk.com



http://www.unity.co.uk

http://www.universalacceptances.co.uk


Directory

201


Vanquis Bank1 Godwin Street, Bradford, WestYorkshire, BD1 2SU

0871 7705555


Vertex Law23 Kings Hill Avenue, Kings Hill,West Malling, Kent, ME19 4UA

01732 224000


Vespa CapitalAmadeus House, 27B Floral Street,London, WC2E 9DP

020 78127144


Viking FundMetic House, Ripley Drive,Normanton, West Yorkshire, WF6 1QT

01924 227237

http://www.vikingfund.co.uk [email protected]

Virgin Money 51 Moorgate, London, EC2R 6PB020 76380039

http://www.virginmoney.com

Vision Capital GroupLtd

54 Jermyn Street, London, SW1Y 6LX

020 73896410

http://www.visioncapital.com [email protected]

Vitruvian Partners LLP105 Wigmore Street, London,W1U 1QY

020 75182800


Volpit3 Hanson Street, London, W1W 6TB

07825 809797

http://www.volpit.com [email protected]

Voltaire Bridging4th Floor, 73 Brook Street,Mayfair, London, W1K 4HX

020 71821740


Voltaire Equity4th Floor, 73 Brook Street,Mayfair, London, W1K 4HX

020 71821740



020 71821740


VTB Bank Europe plc 14 Cornhill, London, EC3V 3ND020 33348000


VTB Capital 14 Cornhill, London, EC3V 3ND020 33348000


V

WCompany name Address Telephone Website/email

W M Mann & Co(Investments) Ltd

201 Bath Street, Glasgow, G2 4HZ0141 2484936

No website

Watersheds CorporateFinance

8 Bath Road, Old Town, Swindon,Wiltshire, SN1 4BA

01793 719788


Weatherbys Bank LtdSanders Road, Wellingborough,Northants, NN8 4BX

01933 304777


WefundUnit 7, Temple Yard, TempleStreet, London, E2

0800 8886001




http://www.vespacapital.com

http://www.vikingfund.co.uk

http://www.virginmoney.com

http://www.visioncapital.com

http://www.vitruvianpartners.com

http://www.volpit.com

http://www.voltairebridging.com





http://www.watersheds.ltd.uk


http://www.wefund.com


202


Wellesley & CoSecond Floor, 83 Baker Street,London, W1U 6AG

0800 8886001

http://www.wellesley.co.uk [email protected]

Wells Fargo30 Fenchurch Street, London,EC3M 3BD

020 71498100


Wesleyan Bank LtdColmore Circus, Birmingham, B4 6AE

0800 3581122


West ImmoSwan House, 17-19 StratfordPlace, London, W1C 1BQ

020 74916800


West One Loans3 Penta Court, Station Road,Borehamwood, Hertfordshire,WD6 1SL

0333 1234556


Westpac Europe Ltd2nd Floor, 63 St. Mary Axe,London, EC3A 8LE

020 76217000


WHEB Ventures Ltd2 Fitzhardinge Street, London, W1H 6EE

020 32193441


Wilkins KennedyBridge House, London Bridge,London, SE1 9QR

020 74031877


WK Capital LLPBridge House, London Bridge,London, SE1 9QR

020 74031877


WM EnterpriseWellington House, 31-34Waterloo Street, Birmingham, B2 5TJ

0121 2368855

http://www.wm-enterprise.co.uk [email protected]



020 82036500


Wragge & Co LLP3 Waterhouse Square, 142Holborn, London, EC1N 2SW

0870 9031000

http://www.wragge.com [email protected]

Wren CapitalDevonshire House, 60 GoswelRoad, London, EC1M 7AD

020 33973390


Wyvern Seed Fund Engine Shed, Clock Tower Yard,Temple Meads, Bristol, BS1 6QH

07534522673


XCompany name Address Telephone Website/email

XenosOakleigh House, Park Place,Cardiff, CF10 3DQ

029 20338144


http://www.wellesley.co.uk




http://www.westoneloans.co.uk


http://www.whebventures.com

http://www.wilkinskennedy.com


http://www.wm-enterprise.co.uk


http://www.wragge.com

http://www.wrencapital.co.uk

http://www.wyvernfund.com


Directory

203


YFM Equity PartnersSaint Martin's House, 210-212Chapeltown Road, Leeds, LS7 4HZ

0113 2945000

http://www.yfmep.com [email protected]

Yorkshire BankFinancial Solutions Centre, Floor 6,One Canada Square, London, E14 5AA

0845 7034567


Yorkshire Bank AssetFinance

Ground Floor, 20 Merrion Way,Leeds, LS2 8NZ

0845 7034567




0845 7034567


YouAngel483 Green Lanes, London, N13 4BS

020 71836780


Y

ZCompany name Address Telephone Website/email

Zenith Bank (UK) Ltd 39 Cornhill, London, EC3V 3ND020 71053950

http://www.zenith-bank.co.uk [email protected]

ZEQUSCentenary House, The QueensClub, Palliser Road, London, W14 9EQ

020 73860860


Zero Start Ventures Ltd53 Davies Street, Mayfair, London,W1K 5JH

020 31784005


Zopa6th Floor, 90 Fetter Lane, London,EC4A 1EN

020 75806060

http://www.zopa.com [email protected]

http://www.yfmep.com





http://www.zenith-bank.co.uk


http://www.zerostartventures.com

http://www.zopa.com

the finance and funding directory 201415

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