Close Brothers Invoice Finance is aiming to take a larger slice of the regional specialist corporate funding market following the opening of an office in Bristol.
The firm, part of the giant Close Brothers specialist financial services group, has set up a dedicated team for the South West to provide tailor-made working capital funding packages to businesses of all sizes.
Heading the Bristol office as regional director is Robin Goddard, who joined Close Brothers several months ago. He previously worked for rival independent commercial finance providers IGF and Bibby Financial services.
He has been joined by Michael Williams as regional sales director. Michael is an experienced practitioner with almost 25 years in the invoice finance industry and has lived and worked in Bristol for 16 years.
Mr Goddard said: “Our work in the Bristol area to date has shown that businesses are hungry for the right type of finance. Our investment in the area with the recruitment of staff and the opening of our new office will ensure that companies can access smart finance that will help them grow and develop opportunities.
“This restructure reaffirms our commitment to supporting local business growth. We announced this year that we lent around £130m to businesses across the South of England and we have the capacity to lend more.”
Further growth at the Bristol office comes as the results of the firm’s latest Business Barometer, commissioned by Close Brothers Commercial Division, show around two thirds of South West business owner managers have plans for growth. However more than a third these are finding it very difficult to progress with their expansion strategy.
“The findings show that firms in the South West want to grow and will clearly need access to funding to do so,” said Mr Goddard. “We want them to know tha
t their options don’t begin and end with just one funding route.
“That’s not to say that they should forget about traditional lending altogether, but rather that they should consider a blend of funding options that includes invoice or asset finance, as the smart way to finance their growth and manage cash flow.”
The Bristol office is one of seven Close Brothers Invoice Finance regional offices across the UK employing 200 people.
The office is in the King’s Orchard office building in Queen Street, near Castle Park, where sister company Close Brothers Asset Finance already has a base.
