Redwood adds BDM and completes £660k brewery funding

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  • 08/11/2018
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Redwood adds BDM and completes £660k brewery funding
Redwood Bank has added Mark Dolphin as business development manager (BDM) for Yorkshire and the North East and also revealed details of a £663,000 deal to support a local brewery development.

 

Dolphin has more than 30 years’ experience in the financial services industry and joined the lender from Atom Bank.

He has held numerous positions in real estate finance, high street banking and within the challenger bank sector.

This includes 19 years at Lloyds Bank and almost 12 years at Santander.

Redwood said Dolphin will be focusing on helping small to medium sized businesses in the area to expand, diversify or strengthen as a result of new lending or refinance.

Dolphin said: “For the last two and half years I have spent my time at Atom Bank, playing an integral role in developing brand awareness to SMEs and brokers, something I’m keen to bring with me to Redwood Bank.”

He added he was looking forward to establishing strong relationships with customers to support their lending experience.

Redwood Bank chief executive officer and co-founder Gary Wilkinson added: “Mark’s wealth of experience will be a valuable asset to us.

“As we continue to develop and grow, it’s key that we have the very best people on board who are committed to delivering a first-class service for all our business customers.”

 

Brewery spare space conversion

Redwood also completed a £663,000 bridging exit deal for a Devon pub and micro-brewery.

Having converted some of its spare space into serviced offices, the Totnes Brewing Co needed to refinance its bridging loan.

The case was introduced to Redwood Bank through Connect.

Kevin Thomson, sales director of Connect, praised the lender and said the deal would help push the Devon business into its next period of growth.

He said: “Initially there were issues with the risk associated with lending to a freehold pub and bar.

“The sector, and perceived start-up business, made it difficult for us to fund via a high street lender.

“The bridging finance to fund the redevelopment was expensive, and the clients needed a more sustainable long-term solution.”

Redwood Bank business development manager John Hall added: “We worked with the client to find the missing piece of the financial jigsaw, which was the serviced office units which helped to spread the risk in the proposition.

“We are delighted to help an entrepreneurial small business grow, helping them capitalise on the opportunities to diversify and become even more successful.”

 

 

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