New lender Blazehill Capital to target mid-sized businesses
A new lender focused on providing funding for the UK’s mid-market businesses has today launched.
Blazehill Capital, which offers firms secured lending ranging from £5m to £30m per transaction, is looking to build a £1bn lending book in the next five years.
The lender is backed by a number of investors, including New York asset manager WAFRA Capital Partners, which currently has $5.1bn in assets on its books.
Managing director Tom Weedall said that the current challenge offered by the Covid-19 pandemic was a “huge opportunity” for the lender.
“Many businesses will have been forced to take on additional debt to survive and may require some form of restructure to allow the business to trade effectively and release funding for recovery and growth”, he said.
“The funding options available to businesses that do encounter an uphill challenge are often reduced as traditional sources of capital lose credit appetite.
“However, Blazehill Capital understands the challenges and value in stressed situations and is comfortable to help support a business through a difficult cycle, help drive their recovery and fuel future growth.”
Prior to Blazehill, Weedall held leadership roles at a number of US lenders, including Wells Fargo and GE Capital.
The firm said it would offer a range of flexible credit options, including term loans, revolving facilities, short-term finance and structured debt.