Business loan provider appoints new lending manager

Birmingham-based ART Business Loans has appointed Richard Steele as an additional lending manager, in support of its relationship-led business model.

The appointment reflects ART Business Loan’s people-centred approach when supporting businesses, and its continued commitment to investing in its lending team.

With over 20 years’ experience in financial services, Richard (pictured) has built an extensive career working within high street banks, and the responsible finance and commercial finance broker sectors. His previous roles include senior business relationship manager at Barclays Corporate Bank, supporting SME clients with turnovers up to £25m.

Roles within the alternative finance market led to Richard establishing his own finance brokerage in 2019, specialising in supporting business start-ups, business acquisitions, cashflow finance, and business growth.

In his new role as lending manager at ART, Richard will focus on supporting both businesses and introducers seeking finance for growth, cashflow and acquisition purposes across the West Midlands, Worcestershire, Herefordshire and Shropshire regions.

ART Business Loans is a Community Development Finance Institution (CDFI), which provides business loans in the Midlands and neighbouring counties.

Richard’s appointment follows a period of growth for ART, as it increased lending by 40 per cent over the past year, and is set to significantly increase lending again over the next 12 months. As part of this, the business is increasingly delivering partnership lending, and completed a number of significant deals in the past year with other funding partners.

At ART, businesses can benefit from a personalised approach which is tailored to their needs. If a traditional lender says no, this is where CDFIs, such as ART, can help - with loans ranging from £10,000 to £150,000, and the option to partner with other organisations should further funding be required.

Commenting on his new role, Richard said: “ART’s focus on providing a relationship-led service resonated with me, as I believe this is how we can best serve our clients. Through an in-depth knowledge of their business, we can provide the most appropriate finance package that will support both their immediate financial requirements, as well as their long-term plans.

“I look forward to working alongside the ART team to support local businesses in accessing finance, and to help unlock opportunities for future growth across the region.”

Dr. Steve Walker, chief executive at ART Business Loans, said: “We’re so pleased to welcome Richard to our lending team. He has significant experience in providing finance solutions and an extensive business network of introducers built over his 20-year career in financial services.

“Richard also shares ART’s belief in funding as a partnership, with a personal motivation to build a deep understanding of client needs. At ART, our team of dedicated lending managers are at the heart of our relationship-based approach, enabling businesses to access the right funding support, at the right time. Richard will be a real asset to the team moving forwards, as we continue to increase our lending over the next 12 months.”

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