Meet the team: Steve

What is your role at CCBS and how did you get here?

My role is Relationship Development Director. I lead client engagement and retention at CCBS, supporting the team to maintain and develop their relationships with existing clients and nurturing my own client relationships. This includes initiatives such as the monthly client newsletter and events throughout the year. My focus is very much on our clients, I work for them and try to find them the best deal I can – the funders are very much part of what we do but our job is always to find the right funder for the client and their situation.

Prior to joining CCBS Group in May 2023, I spent 36 years working for NatWest in various roles, and that is where I first met Peter and Matt. In the last 20 years at the bank I was a Relationship Director, very similar to what I do now, but it has been great to work for an independent small business here in the North East and build some really strong relationships across the sector.

What is your specialism in the team?
I don’t have a specialism as such, but I do like looking at trading businesses who are looking to grow and need funding to assist this growth.  That could take the shape of asset finance, invoice finance or indeed growth capital. The interesting thing is that working for CCBS Group allows me to look at a much wider suite of lending products than I was ever able to do in previous jobs. For example at NatWest I would bring in an asset finance colleague to support on a deal, whereas at CCBS I am doing that in conjunction with a funder.

What is a typical day like for you at CCBS?
I will start with what a typical week looks like as I now don’t work on a Monday or a Friday, so my working week is Tuesday, Wednesday and Thursday.  I will let you work out the acronym. The theory of reducing your working week sounds easy although the reality is a little different especially having worked full time for over 35 years.  I am well organised and that is a key thing that you need when reducing your working week.  I still check emails on a Monday and Friday so that when I get to work on a Tuesday, I know what needs to be done.  I don’t want to spend the first hour of Tuesday wading through emails.  A typical working day involves coming into the office – I do not want to do my job sitting at home on my own – there is too much to learn and I couldn’t do it there. I always try and have at least one meeting per day with either clients, intermediaries, or funders. The rest of my time is spent progressing deals.

What do you do in your spare time?
Now I have a little more of that, my plan is to spend some of that with Helen (my wife) as she doesn’t work on a Friday and riding my bike (on a Monday when Helen is at work). I must admit that I have become a fair-weather cyclist during the winter and need to get my act together and get back on the roads and tracks. I have some cycling targets (ride 100km a week and more than same week last year) and I am ahead of both.

Have you ever tried cycling naked?
Only in the garage (door shut) BUT had to wear my shoes to clip into the pedals. So – not 100% naked.

If you weren’t the Relationship Development Director at CCBS, what other job would you like to be doing?
When I was little (believe it or not I was once) I wanted to be an astronaut.  Obviously, for a number of reasons that wasn’t going to happen, and I realised that quite quickly. Over the years I have spent a lot of time playing sport (mostly rugby) and coaching (football). The latter for the last 10 years and predominantly because my son played for the teams that I have coached. I really enjoy coaching (even U18s) and do think that I would have liked to have gone down that route as a career albeit that ship has sailed.

You can contact Steve to discuss any finance queries or situations by emailing steven@ccbsg.co.uk or calling the office on 0191 211 1450.

Did you know that there are grants available for businesses across the North East open NOW – from support with capital expenditure and creation of jobs, to setting up apprenticeships and installing EV charging points – that you could apply for?

Find out more below and contact us for further information:

 

If you would like more information on any of these opportunities, contact us on 0191 211 1450 or email info@ccbsg.co.uk.
Hi Rachel! Welcome to the CCBS Team!

What was your first day like?
The team at CCBS are so engaging and fun. I already feel like I have worked with them for ages! There really is a lovely energy in the air…plus I have already got an invite to the Christmas party!

How do you take your tea? *makes notes for tea round*
I like my tea white (weak) and coffee black (strong) – two coffees on a morning as a minimum!

Tell us more about your role at CCBS and what you will be doing.
I will be reaching out to SMEs across manufacturing, energy, renewables and green industries and helping them to grow sustainably by accessing the right funding solutions through CCBS, as well as getting advice and help with sourcing investment. I am hugely passionate about the North East, having spent many years working with and supporting SMEs in the region, so being able to now support CCBS in putting down firm roots in the Tees Valley and Durham is just amazing.

What are you looking forward to most about working at CCBS?
Being able to help businesses grow is what I am passionate about. Supporting CCBS in their next phase of growth and working with an amazing team is really exciting, and also being able to help SMEs in the region access the right funding solutions and helping them grow is the icing on the cake!

How would you describe what CCBS do in three words?
Problem-solvers, financial-matchmakers, solutions-focussed (is adding a hyphen cheating?!)

What are the types of business challenges that CCBS can help SMEs overcome?
As I mentioned earlier, having worked with SMEs for a long time now I have seen the pain points and supported SMEs in bridging many gaps, however, funding challenges is nearly always at the top of the list. Here are a few of the challenges I have recently heard from companies:

If this is you, we can help! Contact us today – with no obligation – you never know where it could lead.

Finally, it’s coming up to Christmas – what’s on your list?
When you have a 7-year-old and 9-year-old, its more about their lists than mine! But spending the valuable time together is priceless (although if you do see my husband tell him that big diamond ring is still on my list!).

We’re pleased to announce the appointment of Rachel Chambers to lead expansion of our services in Tees Valley and Durham.

With over 15 years’ experience in senior positions predominantly in the energy, transport and engineering sectors, Rachel joins the CCBS team in its tenth year supporting North East businesses with innovative financial solutions.

Peter Cromarty, Managing Director at CCBS Group, said of the appointment:

“We have always worked with businesses and intermediaries in Tees Valley but we want to make a bigger commitment to the region – working with Rachel to put down firm roots, open an office and expand the level of support we can provide to businesses in the area. Rachel’s passion and drive to create opportunities for SMEs and help them to grow sustainably and strategically aligns perfectly with what we’re all about here at CCBS, and her experience in advanced manufacturing, green energy and renewables will allow us to help even more North East SMEs over the coming years.”

Rachel was the driving force behind the setup of the Centre of Excellence for Sustainable Advanced Manufacturing (CESAM) in the North East and led work on the Driving the Electric Revolution Industrialisation Centres (DER-IC), working with industry to grow UK Power Electronics, Machines and Drives manufacturing capability, capacity and competitiveness.

She said:

“I’m thrilled to be joining the CCBS team to help drive their operations in the south of the region. There are so many exciting things happening in the Tees Valley and Durham area and we know that we can help businesses to maximise these opportunities and catalyse their future plans by opening doors to funding, advice and contacts. The CCBS team are so friendly and incredibly knowledgeable and well-connected – I can’t wait to see what we can achieve together.”

Renewing a company vehicle or buying additional commercial vehicles can be a big burden on top of everything else you’re juggling day-to-day…

Things to consider…

We can take that weight off your shoulders and source your vehicle/s and arrange finance tailored to your business, just tell us what you need or want, and we’ll source the vehicle and share the potential finance options with you.

We recently helped…

 

If we can help your business with vehicle finance or sourcing, please don’t hesitate to get in touch with our team using our form or email info@ccbsg.co.uk.

So Graeme, what is Invoice Finance?

Invoice Finance is a product used to help maintain cashflow, it provides advances of up to 90% of a company’s debtor book – what customers owe you essentially – which provides you with a long-term cashflow solution. And as we all know, cashflow is critical for all businesses, at all times!

What are the benefits of invoice finance?

There are a lot of benefits – so many that it’s even overtaken overdrafts as the working capital solution of choice for many businesses and funders. For example, the only limit to the funds you can access is the total of the invoices you exchange – not like strict caps on bank loan lending policies. That means the product grows as your business grows, meaning it can provide a long-term solution. It can also nurture business growth as you’ll have a steady flow of cash rather than waiting for invoices to be paid before the funds are available, or banks to make lengthy funding decisions – so you can continue to build your business without any delays.


What types of businesses can access invoice finance?

It can really be used by any sized company from SME through to enterprise-sized businesses and there are even specialist IF providers which can support niche companies or specialist industries. For example, some lenders offer construction or contractual sector-specific lends to support businesses in certain sectors or with complex business models or financing.


What else can Invoice Finance be useful for?

It can also be used to support CapEx, acquisitions or buy-outs, or event-drive finance too. So if you’re going through a change, and you have concerns about its impact on your working capital, invoice finance can be a good solution to explore.


Can you tell us about a recent invoice finance deal you’ve been involved with?

It’s not a one-size-fits-all landscape so it’s really critical that you understand what will be required to implement Invoice Finance, what the risks are, and which funder can best meet your needs. We recently supported a longstanding client who was expanding operations into Australia after two successful expansions in the US and Canada. We found a global funder who could support them with a £200,000 Invoice Finance solution that gave them the cashflow headroom to drive forward their plans.


How can business owners find out more?

If this strike a chord with you, definitely get in touch with us. We can find out about your specific situation and give you honest guidance as to whether IF is the right solution for you, or whether something else would be a better fit for your circumstances.

Business Protection is not something that we generally talk to clients about (and not products that we offer) but following a recent meeting the whole topic of Business Protection came into much finer focus.

Some food for thought…

Key Person Insurance

Ask yourself – how many key people are in your organisation and how would the business be impacted if it lost a key person or worse still key people? Would this cause you an issue?

If the answer to that question is yes, then please click here for advice from our trusted partners.

 

Income Protection

Ask yourself – statutory sick pay is £99.95 per week for a maximum of 28 weeks. If you were unable to work, could you survive on that amount.

If the answer to that question is no, then please click here for advice from our trusted partners.

 

Business Loan Protection

Ask yourself – have any individuals provided guarantees for business borrowing? If the answer to that question is yes, then please then please click here for advice from our trusted partners.

 

Private Medical Insurance

Ask yourself – Might health insurance improve the wellbeing of your team and reduce absences?

If the answer to that question is yes, then please click here for advice from our trusted partners.

The Coronavirus Business Interruption Loan Scheme (CBILS) was a lifeline for businesses during the pandemic, providing much needed working capital.  However for some businesses CBILS is now causing headaches when seeking additional finance or refinance due to the security issues that arise with CBILS facilities.

Lenders that have secured loans against a business’ assets – such as through an all assets debenture – may be unwilling to release the security when the business seeks additional funding. This means that businesses may find it difficult to obtain additional financing or refinance existing facilities, potentially jeopardising their growth prospects and long-term sustainability.

As financial professionals and business owners, it’s essential to understand the security issues surrounding CBILS loans and the impact this has on businesses. While there’s no easy solution, exploring alternative financing options or negotiating with lenders could be a viable option for some businesses.

One potential step forward is the ability to transfer CBILS loans between financial institutions. While this is not currently possible, it’s something that could be considered in the future to help businesses access the finance they need while maintaining existing security arrangements.

In the industry, we must work together to find solutions that support the growth and success of our clients. This may involve exploring alternative financing options, negotiating with lenders, or advocating for changes to the CBILS scheme to enable loan transfers. By doing so, we can help businesses navigate these uncertain times and emerge stronger on the other side.

As we sail through the turbulent seas of the current economic climate, most businesses require one thing to keep them afloat; working capital. It’s that essential fuel that keeps the engine running smoothly and propels growth. However, acquiring the necessary working capital has become increasingly challenging in recent times.

At CCBS we understand the significance of working capital and the hurdles businesses face in sourcing it. With that in mind, we have highlighted several effective solutions that have proven to be invaluable in navigating the current economic landscape. Below outlines the working capital solutions that we find most useful in these uncertain times.

Invoice Finance: Unlocking Your Cash Flow Potential

Invoicing finance emerges as a flexible and reliable solution that helps businesses unlock the value of their outstanding invoices. We all know the pain of waiting for payments? Well, invoice finance provides a solution by allowing businesses to access a portion of their unpaid invoices in advance. By bridging the gap between invoice issuance and payment, businesses can ensure a steady flow of working capital, enabling them to meet operational requirements, invest in growth initiatives, and seize new opportunities.

Asset Refinancing: Turning Dormant Assets into Cash

Have you ever thought about those valuable assets sitting on the balance sheet? Think machinery, equipment, or even property. Asset refinancing offers a smart way to leverage these dormant treasures for much-needed funds. By using your assets as collateral, you can secure a loan that injects vital working capital into your business. Not only does this provide an immediate cash flow boost, but it also optimises asset utilisation and enhances operational efficiency.

Secured and Unsecured Business Loans: Flexibility at Your Fingertips

Secured and unsecured business loans remain steadfast options for businesses seeking working capital. Secured loans, backed by property, offer favorable terms and speed of delivery. They provide a reliable and cost-effective funding source. On the other hand, unsecured loans come in handy for businesses that may not possess substantial assets to secure financing against. These loans provide flexibility and speed, allowing businesses to quickly access the funds they need to address immediate working capital needs.

At CCBS we take pride in our expertise in the field. Our mission is to match businesses with the right funders for their particular needs, helping structure the ideal solution. With our extensive network of funders who understand diverse industries and unique requirements, we ensure that businesses receive customised and comprehensive working capital solutions. In these uncertain times, having the right working capital solutions is crucial for business survival and growth.

Reach out to our team and we’ll be more than happy to explore how we can assist you or your client in securing the working capital it deserves. Contact us >>

Given recent headlines around business failures and the messages coming out of the funding market of a move onto a recession footing, discussions have turned to solutions to manage risks.

In today’s competitive business landscape, managing credit risk is crucial for the financial health and stability of companies. One effective strategy to mitigate credit risk is by securing bad debt insurance. This article explores the concept of credit risk, the importance of bad debt insurance, and the processing businesses can undertake to safeguard their financial interests.


Understanding Credit Risk
Credit risk refers to the potential loss a business may incur due to non-payment or delayed payment by its customers. It arises from extending credit to customers who may default on their payment obligations. For businesses, managing credit risk is vital to maintain cash flow, minimize financial losses, and ensure sustained operations.

The Importance of Bad Debt Insurance
Bad debt insurance, also known as trade credit insurance or accounts receivable insurance, provides protection against non-payment by customers due to insolvency, bankruptcy, or other defined events. It acts as a safeguard, allowing businesses to recover outstanding debts and mitigate the negative impact of customer default. Here are key benefits of bad debt insurance:

  1. Enhanced Cash Flow: Bad debt insurance provides a safety net by reimbursing a percentage of the unpaid amount, thus improving cash flow and minimizing the impact on working capital.
  2. Risk Diversification: By transferring credit risk to an insurance provider, businesses can diversify their risk exposure and protect against potential losses from customer defaults.
  3. Confidence in Customer Relationships: Having bad debt insurance coverage enables businesses to offer more flexible credit terms to customers, fostering stronger relationships and increasing sales opportunities.
  4. Improved Financing Opportunities: Lenders often consider bad debt insurance as a positive factor when assessing the creditworthiness of a business. Having coverage can enhance the chances of securing favorable financing terms.

To effectively manage credit risk and leverage bad debt insurance, processing businesses should undertake the following steps:

  1. Customer Due Diligence: Conduct thorough credit assessments before extending credit to customers. Consider factors such as credit history, financial stability, payment track record, and industry reputation. This helps identify potential credit risks and determine appropriate credit limits.
  2. Credit Terms and Policies: Establish clear and well-defined credit terms and policies. Communicate them to customers and ensure they understand their obligations. Specify payment terms, credit limits, and consequences for late or non-payment.
  3. Regular Monitoring and Evaluation: Continuously monitor customer payment behavior and promptly address any red flags. Establish an effective accounts receivable management system to track payments, send reminders, and escalate collection efforts when necessary.
  4. Credit Insurance Evaluation: Assess different bad debt insurance options available in the market. Compare coverage terms, exclusions, and premium costs. Work with an experienced insurance broker who can guide you through the selection process and recommend appropriate coverage for your business.
  5. Claims Management: Familiarise yourself with the claims process of your bad debt insurance provider. Understand the documentation requirements, claim submission procedures, and timelines. Promptly submit claims for eligible unpaid invoices to maximise recovery
  6. Ongoing Review: Regularly review and update your credit risk management and bad debt insurance strategies. Reassess credit limits, terms, and insurance coverage as your business grows or market conditions change. Stay informed about the creditworthiness of your customers and adjust your risk mitigation efforts accordingly.

Managing credit risk is vital for the financial stability and growth of processing businesses. By implementing effective credit risk management practices and securing bad debt insurance coverage, businesses can protect their cash flow, enhance customer relationships, and minimize losses arising from customer defaults. Conducting thorough due diligence, establishing clear credit policies, and working with reputable insurance providers are key steps to safeguard your business against credit risks.

Recent credit insurance deals we’ve completed:

 

See latest deals.

If this sounds like something your business would benefit from, contact us today for a no-oligation chat at info@ccbsg.co.uk or use our contact form.