The document summarizes a session on finance in Cornwall in 2019. It included presentations from various lenders on available funding options for businesses. Lloyds Bank discussed lending over $25 million to 92 Cornish businesses that year. Another presentation discussed using a commercial broker to access funding beyond a business's main bank. A third presentation was from a peer-to-peer lender on providing common-sense lending for rural and entrepreneurial businesses. The session aimed to bust myths around bank lending and provide businesses with information on alternative funding sources.

1. F I N A N C E I N C O R N WA L L 2 0 1 9
S E S S I O N 2 A - D E B T, H O S T E D
B Y C O R N WA L L L E N D E R S
F O R U M

2. INTRODUCTION
Kim Conchie, Cornwall Chamber

3. Confidential
Confidential
3
 Aaron Hamshire & Clare Thomas

4. Confidential
Confidential
4
MYTH BUSTING:
Are Banks Lending to Businesses?
 “Banks cracking down on lending after borrowing
binge…..” 2017
 “Bank lending to small business shrinks…” 2014
 The Lloyds Bank Cornwall SME Team have lent £25.4M to
92 Cornish businesses during 2019
 Lloyds Bank Cornwall SME Team has approved £37.2M
for 102 Cornish businesses YTD

5. Confidential
Confidential
5
Borrowing Bingo
Bingo
 Use of funds
 Breakdown of the
project cost and how it
will be funded
 Trading accounts
 Last 3 years
 ALIEs
 Assets and
Liabilities
 Security available
 Business plan  Bank statements
 Personal
 Business
 Forecasting
 Cash flow
Forecast
 Profit and Loss
Forecast
 Existing borrowing
 HP/Lease schedule
 CV  Structure
 Has Accountant’s
advice been
provided

6. Confidential
Confidential
6
 Thank you
Lloyds Banking Group, Commercial Banking, Cornwall

7. Why use a Commercial Finance Broker ?
Simon Sheldrake - Partner

8. Changing the face of commercial finance…
At South West Business Finance we are experts when it
comes to finding funding solutions for our clients
throughout the South West of England.
We specialise in finding funding in the following areas:
• Property Investment
• Property Development
• Commercial Mortgages
• Working Capital
• Bridging Finance
• Invoice Finance
• Crowd Funding
• Asset Finance
• Where “it doesn’t quite fit” or “it’s not one for us now”
• Banking Consultancy

9. Why use a Commercial Finance Broker?
Ready access to a bank manager is now less common.
• A few years ago most businesses had a named
relationship manager who they would approach with
any borrowing requests and who would make it
happen.
• Existing bank may not be able to help. Many do not
know where to turn then.
• If the proposal is not for the incumbent bank now it
does not mean that it cannot/will not go back to them
in due course.
• Broker provides access to not just one but a number
of different funders.

10. Why use South West Business Finance?
What makes us unique?
• Unrivalled banking/broking experience…over 300
years combined (almost 34 in my case) of
commercial and corporate experience.
• We have sat the other side of the desk - Bank
Manager, Underwriter as well as Broker
• Help to shape deals and present to lenders the
information needed in a clear format
• Personal customer service
• Professional network
• Fully authorised by the FCA
• Members of the NACFB
• In house compliance function

11. What we will do…
We can offer a flexible approach to finding funding, we
will….
• Sit down and get to know the customer and their
business, understand their goals
• Making things happen – See the deal through (or
sometimes not if not best for the business !)
• Use our network of contacts to find the most
appropriate funding solution
• Guide the customer through the process from
start to finish
We are committed to helping businesses grow and
prosper
We work closely with a variety of lenders (over 200)
understanding their preferences and current lending
criteria to secure finance

12. Meet the Team
The Team is now 13 members
strong, all of whom have a huge
amount of commercial banking
experience and is supported by a
Client Manger and Compliance and
Operations Manager

13. How to contact us…
simonsheldrake@swbf.co.uk
01326 250332
07848 190011
www.swbf.co.uk
01225 800849

14. Mike Wall
www.swigfinance.co.uk
info@swigfinance.co.uk
01872 223 883

15. Who are we?
Trustees from Cornwall Council, Cornwall Chamber of Commerce, Devon
County Council, Gloucestershire First LEP, Barclays and Lloyds banks.
Offices in Truro, Exeter and Bristol
FCA Regulated; Responsible Finance Provider
• Not-for-profit finance company
• Established 1989

16. What do we do?
Finance and support to SMEs
excluded from mainstream
finance in the Southwest
• Lack of track record/security
• Poor credit rating
• Not within credit policy
• Not investment ready
• No bank manager

17. Why are we different?
People not computers
• Potential not collateral
• Personal, professional service
• Relationship Management
• Honest advice
• Flexible

18. 1,320 start-ups
1,575 loans
£19,153,427
2,200 Jobs created and safeguarded
255 growth SMEs
589 (37%) Female-owned

19. ENTERPRISE LOANS
• £10,000 - £100,000
• Up to £250,000 in Cornwall
• Repayable up to 5 years
• 12% Interest ABR
• Flexible repayment terms
• Unsecured
• Backed by EFG

20. • £500 to £25,000 per business owner
• Businesses trading up to 2 years
• Fully funded business support
• 6% interest fixed
• Initial repayment holiday
• Repayable up to 5 years

21. APPLICATION PROCESS
1. Simple online application
2. Initial assessment
3. Provide information i.e. financials
4. Face-to-face meeting
5. Decision in 1-2 weeks
Application process supported by our local Business
Managers and advisors – happy to discuss

22. Mappix
A Cleaner Generation, one of the UK’s
leading solar panel cleaning companies,
purchased new specialist machinery with a
growth loan from SWIG Finance matched
with grant funding.
Charity needed investment in order to take the
platform out of test trading and launch it to a
wider market and approached SWIG Finance
for funding. She says: “I needed finance in
order to market the platform and continue to
build and develop it.”

23. www.swigfinance.co.uk
info@swigfinance.co.uk
01872 223 883
Get in touch – we’d love to hear from you
Thank you for listening

24. Secured P2P Lending
Louis Mathers
Director and Co-Founder

25. Options
Alternatives
Choice

26. Secured Peer
to Peer lending

27. Comparison is fruitless

29. WHO WE ARE
A multi-award-winning rural
lender enabling you to
grow, develop or diversify
your business
Grow
Develop
Diversify

30. Over £290m
lent to hundreds of rural
and entrepreneurial
businesses

31. Don’t fit?
The property against which your loan is secured could be at risk if you do not meet
payments.

32. We can help…
1. The business that wants to grow and develop
2. The business that wants to diversify
3. Borrowers that need to bridge a gap
4. Borrowers with unusual and diverse income streams
5. The business owner looking to release equity
The property against which your loan is secured could be at risk if you do not meet
payments.

33. 6. Age restrictions
7. Those who don’t meet standard lending criteria
8. For property development, purchase and small scale
construction projects
9. To facilitate partnership break-ups
10. The existing business borrower that needs to refinance
The property against which your loan is secured could be at risk if you do not meet
payments.

34. Common-sense lending
• PURPOSE: Almost any business purpose
• AMOUNT: From £50k
• TERM: 6 months - 5 years
• RATES: 0.38% - 0.75% p.m. Fixed, interest-only
• LTV: Max 60% LTV (Market Value)
Fees and conditions apply
The property against which your loan is secured could be at risk if you do not meet
payments.

35. Paschoe House
Case Study
The property against which your loan is secured could be at risk if you do not meet
payments.

37. www.folk2folk.com
enquiries@folk2folk.com
Your property against which the loan is secured could be at risk if you don’t meet payments.

38. FINANCE IN
CORNWALL
Presented by John Sharpe
June 2019

39. ABOUT THINCATS
 Born in 2011, 2 men a dog and a barn in Tamworth
 Dedicated to funding SME’s from £250k to £15m. Do the
deals the banks can’t do, not the ones they won’t do. Asset
backed / cashflow loans.
 Over £450m to date and pipeline of c£180m. £112m last year
aiming for c£250m 2019!
 Institutionally backed with £800m of lending capital
 Proven, savvy and successful finance professionals with
decades of industry experience.
39

40. FUNDING INFORMATION REQUIREMENTS
40
 Last 2 years annual accounts
 Up to date management accounts – profit
and loss and balance sheet.
 Month end aged debtor and creditor lists.
 Should we progress with your proposal,
12/24 months projected figures – profit and
loss, balance sheet and cashflow forecast.

41. ASSESSMENT AND TIMEFRAMES
 Meeting to understand your
business, plans and
requirements. Regional
Head of Credit to
accompany me on certain
sized deals.
 Deal forum/audio: Business
Development Manager,
Regional Head of Credit
and Transaction Support
Analyst. You and your
advisor can also join us!
 Positive appetite then issue
indicative terms within 48/72
hours.
 Accept indicative terms,
issue timeline document and
proceed to loan drawdown,
typically up to 6-8 weeks.
41

42. PIONEERING
42
• Award winning data modelling – propensity to
borrow
• Doing the deals the banks can’t do, not won’t do
• Funding the deserving underserved – growth
businesses

43. PERSONAL
43
• Relationship driven, transactional
focus
• Dedicated Regional Head of Credit
and Credit Analyst.
• Deal Forums engaging you in the
process
• National team to support along the
way

44. PRAGMATIC
44
• Reflecting the individuality of every
business.
• Looking at each deal on its own
merits – it’s not all about the numbers
and metrics – the non financials are
very important too!
• Lending against assets and/or
cashflows

45. OUR FOUNDATIONS
45
PIONEERING
OPPORTUNITY SPOTTING
PERSONAL
INITIAL REVIEW
PRAGMATIC
DETAILED ASSESSMENT
CERTAIN
DEAL EXECUTION

46. RECENT FUNDING
HIGHLIGHTS

47. 47

48. John Sharpe, Director Regional Business Development – South West
Mob: 07759 933361
Email: john.sharpe@thincats.com
THANK YOU
48

49. The Bank Manager is
Dead (Long Live the
Accountant!)
ADVISER-LED FUNDING
Olly Cummings, Capitalise

50. Do more than Refer
THE FOUNDATION SERIES

51. 10,000
new bank managers?
Long live the accountant

52. A new era of banking is here
Banking has moved from the high street to
online.
WHERE IS THE BANK MANAGER?
15,000 BANK BRANCHES CLOSED
IN THE LAST 15 YEARS 55,000 ESTIMATED BANK
MANAGERS ARE GONE

53. If the bank managers are gone and clients are seeking
help then who is there to help them?
OUR MISSION
Be the access point for financial services.
Be the new bank manager!

55. 360+ lenders in the UK alone

56. Funding: Routes to market

57. Why Capitalise
FUNDING PLATFORM FOR ENTERPRISE

58. COMPARE SOLUTIONS OFFERS FROM 100+
INSTITUTIONAL LENDERS
4x more successful with an adviser
One search across the market:
Help compare, select and apply to lenders for your clients
MARKETPLACE FOR ACCOUNTANTS
✔ Short term finance
✔ Growth finance
✔ Refinancing
❖ Overdrafts
❖ Saving accounts
❖ Business banking
❖ Credit cards
ENQUIRY APPLICATION

59. Why: Funding in numbers
£25,000 £100,000 £500,000 £1,000,000
Revolving credit facilities
Merchant finance
Unsecured Business loans
Asset Finance
Secured Business loans
Invoice finance
£5,000,000+

60. Why: Some of the Capitalise lenders
Banks Independents Fintech

61. Open Banking
FUNDING PLATFORM FOR ENTERPRISE

62. Open banking: Contenders

63. Open banking: Contenders
Open Banking is a brand new, secure way for
consumers including small businesses to share
information, allowing new and existing companies
to offer super-fast payment methods and
innovative banking products.
It has the power to revolutionise the way we
move, manage and make more of our money.

64. Open banking: Use cases
Business Use
● account consolidation
● credit scoring
● affordability and budgeting
● applications for credit
● accounting solutions
● Other cases
Personal Use
● personal finance management
● credit scoring
● account consolidation
● debt management tools

65. Capitalise and Open
Banking
FUNDING PLATFORM FOR ENTERPRISE

66. Open banking: Capitalise Monitor

67. Open banking: Capitalise Monitor

68. Open banking: Capitalise Monitor

69. Thank you!
FUNDING PLATFORM FOR ENTERPRISE

70. WRAP UP AND
WHAT’S NEXT
Kim Conchie, Cornwall Chamber

71. PROGRAMME
8.30 - 9.45 - Session 1 - Equity to the fore
9.45 - 10.05 - Break
10.05 - 11.20 - Session 2a - Debt
10.05 - 11.20 - Session 2b - Innovation: funding & business support
11.20 - 11.25 - Comfort break
11.25 - 12.45 - Session 3 - Panel discussion
12.45 – Lunch

72. COMFORT BREAK