FINANCE
Marlin Corporate Finance managing director Paul Griffiths ( left ) with nonexecutive director Gary Lumby .
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WORDS : GRAEME ANDERSON PICTURE : CHRIS BOOTH
Marlin poised to help with next wave of Covid-19 business relief
Marlin Corporate Finance has had a busy pandemic helping support businesses across Teesside and beyond swiftly access vital government funds to keep them functioning .
The Stockton-based firm has been a major provider of funding through the government-backed CBILS scheme , which supported businesses with loans of £ 50,000 to £ 5m .
CBILS has now been replaced by the Recovery Loan Scheme ( RLS ), which runs from April until the end of the year , and Marlin will once again provide customers with the expertise they need to get the money they ’ re entitled to as quickly as possible .
Marlin managing director Paul Griffiths explained : “ We ’ re going to be kept busy because these schemes can be complex , and many businesses can ’ t afford to waste time on paperwork when urgent action is needed to safeguard their future .
“ Marlin also has the benefit of being 100 per cent independent , which means we can access up to 200 lenders and get the best possible deal for our clients .
“ Sometimes that has produced some pretty amazing results . We managed to secure funds for one Teesside company in just a few hours , a process that normally takes up to six months .”
The RLS scheme will be operated by a panel of banks and lenders , again supported by the government .
There are some important differences to CBILS , with loan amounts up to £ 10m available , and an emphasis on firms that wish to grow and invest .
It ’ s an area where a corporate finance brokerage with Marlin ’ s expertise can be priceless .
“ The RLS scheme is new and companies must grasp the changes and the options available .
“ It ’ s worth utilising a company like Marlin because of the speed with which we can operate and the knowledge we can bring to bear .”
Paul founded Marlin in 2013 to give businesses the benefit of the financial experience he gained over 12 years with Barclays Bank .
Marlin ’ s team has grown along with its reputation and Paul ’ s policy of recruiting colleagues of high calibre and proven financial expertise .
It now includes Darren Hakami , formerly of RBS , Gary Lumby MBE , who held senior roles at Barclays and Yorkshire Bank , Chris Marshall , whose experience includes Barclays , Santander and Elavon , highly respected lawyer Stewart Williamson and David Griffiths , who has five years of financial services experience at Marlin .
It does business across the UK , Europe and the USA , but Teesside remains at the centre of its activities of enabling access to services including commercial mortgages , property refurbishment and development , buy-to-let mortgages , shortterm bridging loans and interim finance partnerships .
For now , it will be helping businesses through what we all hope are the final stages of the pandemic .
After that Paul predicts a busy time on Teesside as the economy comes roaring back . “ Some businesses lost 90 to 100 per cent of trade and orders overnight and we acted promptly to get them the funding they needed .
“ The differences between how quickly , or how slowly , money was accessed emphasised something we constantly drill into clients – the importance of forward corporate financial planning and how it can minimise the risk of disruption to businesses .
“ No-one saw this pandemic coming or could foresee its impact . But we can help clients prepare the paperwork so the application process can be negotiated much more smoothly .”
The time-consuming details asked for can include financial information such as audited and management accounts , debtor and creditor listings , cash flow forecasts and statement of assets and liabilities .
Marlin can help clients prepare applications by working alongside existing advisors such as accountants and solicitors . Due to its relationships with banks , the firm can work the whole deal on the client ’ s behalf , either with their existing bank or alternative funders .
“ We use the latest technology and systems to have clients ’ information ready to complete quick applications , but we are very much relationship-focused , at a time when many banks and lenders have withdrawn local bank managers and support available to SMEs .” Find out more at marlincorporatefinance . co . uk .
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