Carillion and Stock Markets
January saw the high profile failure of Carillion, and over the last week World stock markets have shown a volatility which has not been experienced in recent years.
Whilst we would not want to speculate on either future share prices or the morals of directors bonuses at the expense of sub-contractors or the staff pension fund, from an OSBF perspective, it is very much business as usual. Fortuitously, not one of our clients had any debts with Carillion, but OSBF will of course be available to new clients who require funding as a result of Carillion’s demise. Our lenders, old and new will continue to enjoy the same 8% or 10% guaranteed returns, depending on the level of funds invested. For further information on investing with OSBF please email firstname.lastname@example.org
Record level of enquiries
January saw another record number of new enquiries, and deal flow for the next few months looks extremely strong. This means that our aspiration to double turnover for the third consecutive year remains on target. We remain indebted to both our High Net Worth and Managed Fund lenders, who continue to provide additional cash to support an ever growing loan book.
The other underlying message is that the new Business Development Managers are generating significant numbers of opportunities and we expect to be recruiting again later this year. If you would like help in finding the right solution for your business or would like to discuss our services, please visit http://www.osbf.co.uk, contact the office on 01757 289885 or email email@example.com.
December and January deals
In terms of completed deals, December was extremely busy with January slightly quieter. The end of December saw the quickest transaction we have ever completed, for a cleaning products business in Leeds. Whilst it was a lower value loan, it was done in double quick time. Heads of Terms were received at 15.00 on Wednesday 20th December and we paid out at 14.30 on Friday 22nd December on a fully secured loan (debenture, legal charge on a property, personal guarantee, independent legal advice etc.) in 47 and a half hours. Great teamwork with Ben Slack and John-Joe Massey at Clarion.
The largest deal in January was a property purchase and refurbishment loan in South Yorkshire, with other notable deals being six figures to a telecoms business in the East Midlands, funding of an acquisition of a training business and a revolving credit line for a machine tool importer in Cleckheaton.
Finance Broker Recruitment
In parallel with the growth in our own book lending, our brokerage activity also continues to grow rapidly. In recent months, we have seen a significant increase in demand, especially for invoice finance and commercial property funding http://www.osbf.co.uk/our-products/
In response to this we are currently seeking to recruit a Business Finance Broker, based at our rural East Yorkshire Head Office. This is a key role which will be at the heart of our business and will benefit from excellent terms and conditions including both the company and team related bonus.
If you know anybody who may wish to apply for this role, please email firstname.lastname@example.org in the first instance, who will provide further details.