Specialist business lender announces new fund of €60 million for North-East SMEs and appoints local lending expert
The specialist business lender Capitalflow has announced a new €60 million fund for SMEs in Louth and the North-East. The fund will make it much easier for local businesses in to access funding to improve their businesses.
To oversee the new funds, Capitalflow has appointed Ken Rooney CPA as Senior Lending Director in the North East. He previously held the position of Head of Business Banking for the Cavan, Monaghan and Louth region for AIB. In addition to Ken, Capitalflow have hand-picked an experienced and professional team to service their North-East clients.
Commenting on the announcement of the €60 million funds, Ken Rooney said; ‘’this funding will enable us to further assist SMEs in Louth and the North East to grow their businesses and achieve their goals. Since Capitalflow was established in 2015 we have worked very successfully with many businesses in Louth. This funding will allow us to ramp up our activity in the region and rapidly expand our operations.’’
Capitalflow’s Chief Executive Ronan Horgan said; ‘’this new fund of €60 million and the appointment of Ken and his professional team are evidence that Capitalflow is serious about making a real impact in Louth and the North East. We have been working with many successful businesses in Louth and we understand the pressures that are on SMEs to grow, develop and maintain their businesses.’’
Capitalflow attribute their success to reintroducing the traditional banking methods for their clients. According to Ken; ‘’we reintroduced the traditional, no-nonsense banking methods and brought business lending back to basics with a strong focus on approving loans quickly. Our team of senior professionals meet with our expanding Louth client base on a one-to-one basis. In today’s business world, lending has become more difficult and complex for many people trying to run businesses and we aim to simplify the process for our customers in Louth.’’
According to Ken, the key to the firm’s success lies in bringing back traditional banking practices to its services; ‘The pillar banks have ignored key sectors business in Louth and abandoned the idea of people doing business with people. This has provided us with a golden opportunity and our disruptive business model is to reintroduce traditional lending practices, where the person you meet on day one is the Capitalflow contact that will provide you with finance and build a lifetime relationship. Our tagline is ’Better Finance, Better Business’ and this fuels our relationships with our customers.’’
Capitalflow’s bespoke business model is designed around the needs of businesses who require rapid decisions on lending to allow them to seize opportunities and grow their business across Ireland.