One-stop commercial offering will cater for needs of small businesses

Cardiff-based NGM, which launched a commercial mortgage division at the beginning of 2004, is today rolling out an expanded range of products that cater for the needs of small and medium-sized businesses to its existing national base of 2,000 intermediary partners.

New additions to NGM’s enhanced portfolio include:

- Distress funding: NGM is now able to offer finance to businesses that have short-term capital requirements. Market-leading products feature attractive interest rates and minimal security requirements.

- Bridging finance: A key need of the small business community, NGM has a range of new bridging finance products available that is able to meet the short-term financial needs of small businesses.

- Hire purchase finance and leasing: NGM’s new range of products enable small businesses to obtain company cars, computer equipment and essential office equipment at competitive rates. Many of the products available also offer significant tax advantages.

- Asset finance: A range of products, made available via NGM’s panel of leading lending partners, are now available for those businesses looking to expand.

- Invoice discounting facilities: Many businesses experience cash flow difficulties – particularly in the first two years’ of trading. Through arrangements NGM has with key partners, small businesses can now reduce the pain of ‘business start-up’ by borrowing against the overall value of their monthly invoices.

“We’ve spent the last three months developing a robust commercial offering that meets the needs of small business customers and advisers,” commented Tony Yorke, NGM’s director of marketing and business development. “We have spoken to a number of key introducers in relation to our beefed up commercial proposition. Much of what we have done has been modelled around this research and means that we are meeting the needs of our intermediary partners.”

Added Tony Yorke: “Our goal is to become a major provider of a range of financial solutions to businesses across the UK. We’re confident that our new range of products reflects this ambition and bodes well for the future development of the NGM business finance division.”