PMD Business Finance, which is based in Manchester and brokers over £150m of lending each year for UK businesses, has appointed Cole O’ Malley as part of its expansion into the North East.
Cole, who is based near Newcastle, joins PMD as business development director after over 20 years in the finance industry, including senior roles with RBS Group. He will be supported in the region by PMD’s business development manager Zak German.
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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.”
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By GlobalDataPMD Business Finance, an independent business finance company, based in Oldham, Greater Manchester, UK, was founded in 2010 and has 43 staff. It is predominantly focused on the SME sector, working directly with clients, professional referrers, and suppliers of business assets.
With over 100 funding lines, PMD provides solutions for businesses looking to expand, improve cash flow, or acquire plant, machinery and vehicles. In addition, it also assists businesses in restructuring debt along with providing finance for acquisitions, MBOs and trade sales.
Earlier this year, PMD was acquired by its management team – Tom Brown, Lee Schofield and Rob Dermody – from founders Peter Dobson and Mike Rodgers.
On 15 April, PMD Business Finance partnered with Leasepath, a Canada-based IT services in-the-cloud provider, to use its finance origination and customer engagement platform.
PMD said it would use Leasepath’s Intelligent Workplace to improve client relationships through better operational performance and streamlined deal flows with funders.
