North East expansion for Manchester business finance firm as SMEs draw focus

A UK business finance firm has announced that it is expanding into the North East as it focuses on support for SMEs.

PMD Business Finance, which is based in Manchester, brokers more than £150m of lending each year for UK businesses, and is now broadening its reach into the North East.

This comes as the company appoints a new business development director for the region, based near Newcastle.

Cole O’Malley, who is based near Newcastle, joins after more than 20 years in the finance industry.

Tom Brown, director of PMD Business Finance, said: “The North East has been a growing market for us over the past few years and we’re pleased to have secured somebody with Cole’s professionalism, stature and contacts in the region to head up our operations.

“As the largest independent finance intermediary in the UK, our aim is to use our infrastructure to provide SMEs and the North East professional community with fast, flexible and competitive finance solutions.”

Cole added: “It’s been clear for some time that SMEs are placing more emphasis on the value independent finance brokers can offer in providing flexible finance options.

“For many, the alternative finance space, through brokers, has displaced the banks and become the mainstream source of funding.

“Being the largest independent in the UK provides us with the opportunity to review the whole finance market for our clients, ensuring we secure the best solution while providing industry leading service. Other brokers just don’t have access to the diverse array of funding lines we have.

“I’m thrilled to have been given the opportunity to lead PMD’s continued expansion in the North East market with the aim of building strong and lasting relationships with the region’s professional community, SMEs, and plant, machinery and asset suppliers.”