Cash & Liquidity ManagementInvestment & FundingNew small business lender launches

New small business lender launches

Amicus Commercial Finance, a new commercial finance business specifically for the small business and professional services communities, has been launched by UK specialist lender Amicus.

Amicus Commercial Finance, a new commercial finance business specifically for the small business and professional services communities, has been launched by UK specialist lender Amicus.

The new lender will be led by John Wilde and David Hogg, who built SME Invoice Finance Limited from start-up in 2000 to a national firm with 80 staff and a 600-strong customer base, which was generating annual revenues of £12m when it was sold to Metro Bank in July 2013.

Amicus Commercial Finance will provide a revolving working capital facility powered by a proprietary funding platform, utilising smart technology and real-time data connectivity. It will focus on “providing relationship-based, intelligent cash flow to owner-managed businesses with annual sales of between £0.5m and £5m.”

“Large bank-owned subsidiaries are currently responsible for around 85% of small business lending but due to cost savings, many of them can no longer offer the type of localised, relationship-based service that is valued by smaller firms and professional services organisations,” said John Jenkins, chief executive officer (CEO) of Amicus.

He added that as many new entrants were focussing on larger businesses, Amicus saw an opportunity to provider high-touch customer service, innovative products and a transparent fee structure, powered by the latest technology, to smaller businesses. “The launch of Amicus Commercial Finance underlines our strategy of broadening our proposition into other specialist lending markets which are poorly served by mainstream lenders.”

Amicus itself focuses on short term, property-based lending to private and corporate borrowers, including landlords, developers and owner-occupiers. The firm recently completed a £100m short-term mortgage-backed securitisation, the first securitisation in the UK market made up entirely of short-term property loans.

Related Articles

How to trade bitcoin: an exploration of popular bitcoin exchanges

Investment & Funding How to trade bitcoin: an exploration of popular bitcoin exchanges

4w Michael McCaw
What is the function of corporate treasury?

Cash Management What is the function of corporate treasury?

1m Michael McCaw
"The architecture of financial markets has changed": Stefan Bielmeier, DZ Bank

Automation "The architecture of financial markets has changed": Stefan Bielmeier, DZ Bank

2m Victoria Beckett
China’s regulatory changes stimulate international interest

Asia Pacific China’s regulatory changes stimulate international interest

2m Michael McCaw
Why Ferguson Plc opts for floating rate debt: Bellin 1TC conference day 2

Capital Markets Why Ferguson Plc opts for floating rate debt: Bellin 1TC conference day 2

2m Victoria Beckett
Cold comfort for SMEs amidst Carillion bankruptcy

Economy Cold comfort for SMEs amidst Carillion bankruptcy

2m GTNews
Cash flow in focus for investors

Cash Management Cash flow in focus for investors

2m Conor Deegan
What are the objectives of liquidity management?

Cash Management What are the objectives of liquidity management?

2m Michael McCaw