We know that companies across the country need help to recover and grow – or build back better – following the coronavirus pandemic, but what are the best ways to provide that support? All too often, lenders believe that they can understand local markets from an office in London, but BOOST&Co has geared up to help SMEs by appointing principals who are part of the business communities in which they work.
Introducing Chris Mears
The alternative lender recently expanded into Birmingham, Reading and Leeds, as well as strengthening its offices in Manchester, London and Bristol, with Chris Mears joining the Bristol team to cover the south west and Wales. He has spent 17 years supporting SMEs throughout the region and previously served for 18 years as an army officer, deployed around the world.
“It’s a joy to join such an ambitious, capable and agile funder at this critical point. BOOST&Co aims to be different and it feels like a breath of fresh air,” he says. “Businesses are struggling to cope with a fragmented and confused funding environment, when what is needed is speed, clarity and confidence. Many firms aren’t aware of the options available, so my role is to send the message that there are powerful alternatives to traditional funding.”
Bigger loans than the banks
Mears believes that ambitious, innovative businesses need bespoke funding tailored by experts – exactly what BOOST&Co’s growth loans, ranging from £1m to £10m, are designed to provide. “Growth lenders invest more and earlier than banks because they consider a company’s growth rate, not just its history,” he says.
“We take a very different view of funding to the banks. We assess the quality of the management team and the company’s potential, as well as its inherent value, before looking at options to scale the business without harming its profitability. And we ensure that we understand the details – the opposite of the ‘computer says no’ approach that firms often face.”
Flexible funding that meets your needs
Growth loans are ideal for businesses that are looking to scale up or recover but lack security. They also work for companies that are pre-profit but have a clear route to profitability with the right investment. Growth loans can be used to support a number of needs, including acquisitions, management buy-outs, expanding into new countries or investing in facilities, operations or staff.
“Our funding isn’t just flexible – it’s simple, too,” Mears says. The process is transparent, smooth and swift, with firms funded in as little as six weeks. BOOST&Co’s facilities have few, if any, covenants, and the lender does not take seats on companies’ boards.
“The south west and Wales is a hotbed of innovation,” Mears says. “Entrepreneurship is in the blood, and our business leaders deserve the best possible support to create opportunities, jobs and wealth.” With so much potential in the region, a growth loan could be the wisest way for your company to take the next step.
This article was first published by Business and Innovation Magazine in July 2021