Yorkshire and Derbyshire based Chartered Accountants, Sutton McGrath Hartley (SMH) have launched a new division, Principle Finance, to further enhance the group’s offering.
Principle Finance has been set up to offer commercial finance, complementing its sister company Principle Mortgages, which focuses on the residential mortgage market.
Commercial financier, James Furniss, has joined to head up the new venture, which will offer easy access to a wide range of funding solutions, such as development finance, commercial mortgages, bridging loans, invoice finance, asset finance and a range of business and personal finance options.
James Hartley, managing partner comments: “It is part of our long term strategy to establish new companies within the group to ensure we are meeting the ever growing financial requirements of our clients. Setting up Principle Finance allows us to achieve this objective, and also expand into new markets external to our client base under a fresh new corporate identity.
“Offering a commercial finance service in addition to our residential mortgage division means we can offer a complete range of funding services to meet our clients’ diverse financial requirements.
“We’re delighted to bring James on board. He has worked closely with SMH for a number of years, so we are confident he will be successful. He brings a lot of experience having worked with a large regional commercial finance firm, and has a vast amount of contacts with many leading funding institutions. He will be a perfect fit to enable us to develop this new service area.”
James adds: “This opportunity is something that really appeals to me. I have worked as a commercial broker for over 15 years, working with businesses of all sizes, from start-ups to £50m plus turnover PLCs, and there are some great client relationships at SMH that we can add significant value to.
“In addition to this, under the Principle Finance brand we have the power to develop the business external to the SMH client base. Unlike elements of personal finance that have neatly defined rates and criteria, Commercial Finance can be a complicated subject requiring a more tailored approach, so the knowledge and relationships we can bring to the table will be of benefit to businesses throughout the region. It’s an exciting time for the group, and I’m really looking forward to getting started.”