Reward's support in Scotland strengthens grows Scotland team after reaching £14.35m SME lending milestone
25 Jan 2024
One of the many SMEs in Scotland benefitting from Reward’s support is Motherwell-based UK Rubber (UKR <https://ukrubber.com/>), which has over 40 years’ experience within waste management and tyre recycling. It utilised a £370,000 working facility provided by the lender to invest in vital machinery, bolster production and increase its workforce to meet its ambitious growth targets.
The company helps businesses across Scotland significantly reduce carbon emissions by managing their waste tyre collection and disposal in an environmentally safe way. As part of its recycling process, its end-to-end solution extracts the steel fibres from each tyre and transforms the rubber into chippings and crumb to suit a range of purposes.
UKR has made giant strides in tackling the environmental issue of waste tyres being disposed of in landfill, since the Directive on the Landfill of Waste banned the landfill of whole tyres from 2003 and shredded tyres from 2006. Key to its success has come through working closely with local authorities, businesses and the Scottish Environment Protection Agency (SEPA).
Off the back of this growing footprint in Scotland, alternative finance lender, Reward Finance Group <https://www.rewardfinancegroup.com/> has now strengthened its team to ensure service excellence for more Scottish firms and has opened new offices in Dunfermline, in response to reaching a £14.35m lending milestone across Scotland.
Providing property investors and SMEs with tailored business finance loans and asset based solutions of up to £5m, Reward has injected over £14.35m of funding into the Scottish SME sector since launching in early 2022.
To sustain this growth, Reward’s team is bolstered by Lucie Martin who joins as business development director and Leyton Loughran who has been appointed business development and portfolio executive.
Lucie Martin, business development director for Reward, said: “Reward has quickly established a strong reputation in the property and commercial finance lending space across Scotland and is on an impressive growth trajectory.
“Reward has an agile, solution-focused approach to lending and providing tailored finance that works for all parties which is particularly important for property investors and SMEs that may be finding it difficult in the current economic climate and are struggling to access finance through high street banks.
Brian Machray, business development director for Scotland, added: “Being able to provide £14.35m to property investors and SMEs across Scotland since launching and opening new offices in Dunfermline, naturally led to us looking to grow our Scottish team and we’re looking forward to the coming year as we continue to help clients in their growth, innovation or during difficult trading periods.”