Appointment reflects firms focus on geographical expansion.
Advantedge Commercial Finance (Advantedge), a leading invoice finance provider, has appointed Paul Stokes as its Regional Director – Midlands. Stokes will be responsible for developing Advantedges’ presence in the Midlands region as the firm pursues a geographical expansion strategy following a successful MBO in 2016.
Paul’s mission will be to establish a Midlands based client operational centre, building upon the firms existing successful operations in the Thames Valley, Manchester and Glasgow as the firm continues to focus on being close to their clients.
The move gives the region an exciting new addition to the business funding market at a time when the region is being positioned as a powerful engine for economic growth. With a regional economy worth more than £230 billion – larger than countries such as Denmark, Advantedge aim to transform the financial landscape for Midland businesses and to support the region in realising it’s potential to achieve economic growth through enterprise.
As Paul comments “The Midlands has a thriving business community with 450k private sector businesses in 2017, an increase of 9% on the previous year. It’s a regional economy that boasts not only the UK’s second city but over 14% of the UK’s highest growth businesses. I am delighted to be joining the team at Advantedge who believe that businesses based in the Midlands have a crucial role to play in driving the economy. They are committed to delivering a locally based operation which understands local businesses and their markets. The opportunity to join a business in the sector, with such a strong commercial perspective, access to large funding pools and a commitment to delivering a market leading service, was impossible to ignore. With funding facilities available up to £1.5m I am looking forward to supporting Midland firms and their growth aspirations.”
Stokes brings with him a wealth of experience in commercial finance, spanning invoice and asset finance and banking. His time in the sector has seen him successfully identify and shape funding facilities for a wide range of businesses from both sides of the fence – as a funder and a broker – most notably with Lloyds Banking Group, Allied Irish Bank and his own brokerage Partner Commercial Finance – before his last position as MD of Gener8 Finance, an invoice finance business which was recently sold to an AIM listed acquirer.
Advantedge, who offer a full range of invoice finance facilities to small and medium sized businesses, have seen consistent growth having already funded over £2 billion worth of invoices to British SME’s and hope to significantly increase that number with the opening of the Midlands office. The business attributes this continued growth to delivering fast and flexible finance solutions to clients on their own terms, which is aimed at delivering a transparent and professional service to both intermediaries and clients.
As David Tilling, CEO concludes: “We are delighted that Paul has joined the team at such an exciting point in our development. In a market where the delivery of customer experience is becoming increasingly focussed on online delivery and a low cost to serve mind-set, we remain committed to personal and local relationships delivered in the way our clients want. We enable the connectivity that helps our clients control and maximise their finances, but we don’t dictate how they interact with us, rather we focus on providing the best in client service. Paul’s client centric approach makes him an ideal choice to lead our expansion into the Midlands. He understands the importance of building transparent and local relationships with businesses and their advisors and we are looking forward to making a difference in the businesses in the region.”