New alternative business lender launches
A new alternative lender focusing on providing credit and working capital funding to mid-market businesses has launched.
Blazehill Capita says it will provide additional financial support to businesses when they are unable to get funding from traditional providers.
The company says it will typically provide secured lending ranging from £5 million to £30 million per transaction, delivering fast and flexible credit solutions to companies with non-standard lending requirements that are often complex and time-critical. The firm’s ambition is to build a lending book of over £1 billion in five years.
The company iss backed by a number of high-profile investors including major financial institution WAFRA Capital Partners, the global credit investment firm with $5.1billion in assets under management and specialisms in asset-based finance.
The firm says that its unique skillset and experience means that it can get to grips with complex situations quickly and can assess and execute deals with speed and conviction, providing a range of flexible credit options, including term loans, revolving facilities, short-term finance and structured debt. The team focuses on supporting management teams through tough trading periods, providing them with the necessary capital and financial breathing space to deliver on a turnaround plan.
Commenting on the launch, Tom Weedall, Managing Director of Blazehill said “We have launched Blazehill Capital now because we feel there is a huge opportunity to support the UK’s mid-market in these extremely challenging times. Many businesses will have been forced to take on additional debt to survive and may require some form of restructure to allow the business to trade effectively and release funding for recovery and growth.”
“The funding options available to businesses that do encounter an uphill challenge are often reduced as traditional sources of capital lose credit appetite. However, Blazehill Capital understands the challenges and value in stressed situations and is comfortable to help support a business through a difficult cycle, help drive their recovery and fuel future growth.”