Credo Asset Finance lent £40m last year – mainly to local businesses. And, now we’ve merged with Star Capital, we want to lend more.
At a time when many businesses are finding it hard to set up loans with the high street banks, in the best East Anglian traditions, Credo likes to “do different”.
OK, the big lenders are understandably nervous about start-ups, for example. But we believe that doesn’t help the budding entrepreneur – nor, ultimately, does it promote long-term economic growth or employment.
Currently, we deliver about 200 loans a month for sums between £2,000-£150,000 from our own funds, or more via the brokerage arrangements that we’re able to fix.
At Credo, we take a pragmatic approach to lending. We always try to meet a new customer. If we believe in them, we will try and help them. We’re a bit like an old-fashioned bank manager.We have lent to ex-CCJs (county court judgements) and bankrupts – but we lend sensibly and securely to the right people. We like to lend to new businesses with new ideas.
We specialise in lending for vehicles and plant, but we’ve had some unusual requests for loans in our time. Here’s a top 10 list of customer requirements that we’ve backed recently:
- Yamaha Tyros 5 keyboard
- Hot tub
- Flight simulator
- Antiques
- LED facemask
- Biomass boiler
- Golf buggy
- CCTV
- Ice cream machines
- Sunbed
Every loan is different, but our rates average out at 13.9pc – very competitive today, even with interest rates at historically low levels.
Now our recent merger with Star Capital allows us to release even more money and we’re aiming to help many more East Anglian businesses in 2018.
If you’re looking for extra funds to take your business to the next level, come and meet our team.
All the staff, from receptionists through administrators and on to sales, are coached to take a personal and pragmatic approach to our customers.
We think you’ll find that a refreshing change!