Member Article

Creative thinking provides edge in lending market

A Darlington-based lending brokerage has met the challenges of the current ‘credit crunch’ head on and expects to double its annual turnover in the next 12 months. Recent tightening of the availability of borrowing has forced more and more businesses to look at alternative methods of financing their businesses, and Creative Business Finance (CBF) are benefitting as a result.

Since setting up in business three years ago CBF has predominantly dealt with SMEs. Following the launch of its new lender finder websites in 2007 however, the company has expanded its client base to larger national and international businesses.

Developed thanks to assistance from Business Link, www.creativefinance.co.uk and www.creativefactoring.co.uk are brokerage websites which aim to connect businesses with lenders.

The company is confident of continuing its present rate of growth in 2008 and is expecting to double its present annual turnover with plans including the development of a call centre to handle business enquiries.

Mark Blayney, co-director of CBF, said: “In the current climate we have been successful in offering a real alternative to the mainstream financing options offered on the high street. However it is our websites that we are looking towards to build our long term future. “We believe our simple online system is ahead of the marketplace at present, which is why so many financial firms are now approaching us to use the technology to offer their customers.”

Jonathan Barnes, account manager at Business Link, said: “Creative Business Finance’s success demonstrates the possibilities a well designed website can offer a company. “We are pleased to have a part in helping the company expand its client base through the site, and look forward to working with Mark and the team in the forthcoming months.”

This was posted in Bdaily's Members' News section by Ruth Mitchell .