The Business Exchange Swindon & Wiltshire Edition 48: April/May 2020 | Page 13

10 Minutes with South West Business Finance South West Business Finance (SWBF) is a funding advisory firm set up in 2014 by corporate bankers Dan Smith and Steve Barrett. The pair met over their love of rugby at Trowbridge RFC. Dan had been working for Lloyds for 14 years and Steve had been at HSBC for 29 years. Fed up with the corporate race and red tape involved in large institutions, both decided they were going to leave their respective jobs and go solo, but after a few discussions they decided they were stronger together and set up SWBF. Fast forward five years and SWBF has made a name for itself across the South West as the go-to firm for any business looking for funding options. The firm has grown from a team of two to 14-strong and has helped to secure nearly £350 million of lending for clients. How’s 2020 been for business so far? The year was off to a great start. It was like a button had been pressed when we returned to the office on 6th January after the Christmas break. The election results and things becoming clearer on Brexit definitely had a positive impact on the market. The Coronavirus outbreak has obviously left things more uncertain. What areas have been particularly buoyant? The property market has definitely seen an uplift. People have been coming to us for capital on new projects which is exciting. We have also been seeing more decisions being made on investment in new kit or acquisitions that had previously been on hold because of the political uncertainty last year. How has Coronavirus impacted your business so far? We’ve put provisions in place so that all of our staff can be fully operational from home. We remain very much open for business and will continue to support businesses with all enquiries and applications. This can be done over the phone or through video messaging. We also have electronic document signing tools available. What’s your take on the current outlook? We are encouraged by the overall actions taken by the Government, but the Coronavirus Business Interruption Loan Scheme will be limited to only a small number of businesses. Therefore, it’s even more vital to understand the other options available during this period of uncertainty. The good news is that many of the high street banks, amongst other lenders, have announced that they will support SME’s by offering help such as loan repayment holidays and increased overdrafts to boost working capital. We have access to over 200 lenders who are continually updating us with the provisions and support they are providing so we are well placed to update you on the best options available. Steve Barrett What makes South West Business Finance different? It’s all about the personal approach. We’re not order takers. We take time to get to know our clients to discuss and fully understand their needs before making lending recommendations. This could be ensuring they receive other expert advice before they proceed with a deal. Our message is that we’re not really brokers, we’re more quasi-bank manager consultants. We want to see businesses succeed and achieve their goals with our support. Now that we’ve been in business for five years, our reputation is increasing with clients confident in our abilities and coming to us for the second or third time. This has also in turn been generating lots of referral business. How can SWBF help local businesses through the COVID-19 crisis? If you have any finance requirements or simply want to talk through the current situation and what this might mean for your business, please get in touch. Throughout the crisis we will be posting updates and advice on our social media channels, so do take a look. Follow us on Twitter @s_w_b_f Dan Smith “We are committed to being ethical lenders” To find out more about South West Business Finance email: [email protected], call: 01225 800849 or visit: www.swbf.co.uk THE BUSINESS EXCHANGE 2020 13