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Sancus BMS Group, a specialist alternative finance firm, has announced that it has supplied over £700m in funding to SMEs and entrepreneurs - over £240m of which was from their Jersey office.
Local co-founders Andrew Whelan and John Davey established Sancus in 2013 following the severe shortage of finance after the Global Financial Crisis of 2008.
The Group now operates in six jurisdictions - Jersey, Guernsey, the UK, Gibraltar, Ireland and the Isle of Man - and employs over 50 staff across seven offices. Since its foundation, Sancus has also expanded its range of financing solutions to include asset-backed loans, working capital finance and credit insured cash flow funding.
The British Business Bank is also an investor in the Sancus Group through BMS Finance (UK) SARL. The Bank is 100% government owned with the aim of making finance available to smaller businesses throughout the UK, creating a more diverse and vibrant financial market.
Andrew Whelan (pictured), Group Chief Executive, said that the firm had its eyes set on new initiatives in the New Year.
"We have seen substantial growth and diversification of our lending solutions since we launched the business four years ago. We are looking forward to announcing further initiatives in 2018, including the launch of our new online reporting platform for our offshore Co-Funders, which will complement our UK FCA regulated transactional platform. We are also expanding our Irish office to include asset-backed lending, which will enable us to offer Euro denominated loans in 2018," he commented.
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