Posted: Wednesday, 16 October 2024 @ 10:11
This year Rivers celebrated 10 years of working with capital markets and investments firm LGB & Co. via their medium-term note (MTN) loan programme - an anniversary that is further marked by the extension of the loan note programme to £40m.
A successful decade
Having begun collaborating in 2014, we issued our first note in January 2015 under the original £6m MTN programme. The relationship has since resulted in many more investment rounds, with the programme size increased to £25m in 2018, as well as happy (and repaid) investors, many of whom have reinvested over the years, signalling their satisfaction with the relationship and the return.
This year we were delighted to once again be extending the programme limit, this time to £40m, in line with our ongoing plans for sustainable organic growth, as well as a strong period of trading despite the economic headwinds that have dominated headlines. The extended facility with LGB & Co. enables Rivers to continue to grow, providing tailored financial solutions to our growing client base in the UK.
Helping SMEs thrive
In the last 12 months Rivers has continued to flourish at a steady pace, now with three core areas of business including asset finance, business loans and block discounting. Always cognisant of delivering funding solutions that meet the functional needs of businesses, this year the team also announced the launch of short-term business loans. They are specifically designed to support healthy working capital requirements in SMEs and to bridge a gap in the market's funding requirements for small and medium-sized businesses.
Rivers Chairman, Ratan Daryani, expressed his gratitude to LGB & Co. as well as their network of investors, who have now championed the company and its vision for more than a decade. He says: "This extended funding deal complements the developments we have instigated this year, as well as our continued commitment to careful and sustainable growth with financial products that proactively help SMEs to thrive. I firmly believe that valued partnerships are the hallmark of successful businesses - having good people around you, and in turn being honourable to them as well. In LGB & Co. we have always found like-minded people, both within the company and in those who invest through them. They are a pleasure to work with, and I look forward to continuing our relationship going forward."
If you are a broker or business owner and would like to find out more about Rivers’ finance solutions, contact us to find out more.