Commercial Financial Services: About us
CFS was established in 2004 by Simon Purdom following a 26 year career in banking which covered a variety of client facing disciplines including well over a decade as a senior commercial lender.
This experience in banking and being aware of how business is transacted made Simon understand how difficult it could be for clients to get an adequate response from their bank and how important having all the detail is when considering loans for either property portfolios or the expansion of a trading business. This realisation ultimately led to Simon’s decision to leave his senior position and set up CFS with a strong desire to help clients with a focused client centric approach.
The advent of the “Credit Crunch” reduced the capacity for clients to borrow particularly from Clearing Banks as the banks struggled with higher cost of funds and a lack of available capital. Whilst by mid/late 2013 this started to ease many businesses can still find it difficult to access funding for their projects.
There was one silver cloud from the recession namely it opened up the lending market for new banks/lenders to come to market increasing options for clients; the recession also brought more focus on professional brokers and how they can assist in arranging loans for clients.
The approach CFS as a Credit Broker (CFS is not a lender) takes is to assess a client’s current position and plans, ensure they are realistic, achievable and then provide a range of options which are suitable to meet the client’s needs both in the immediate and medium/long term. Our clients range from sole traders, to partnerships, limited companies and LLPs as well as Trusts and other corporate entities.
The experience gained from many years as a lender has helped Simon to establish excellent professional relationships with the lenders on the CFS lending panel; this panel of lenders is reviewed regularly with the goal to provide a range and variety of lending products for property investors/developers, businesses seeking to purchase their own premises and simple working capital or asset finance requirements.
The client’s experience is important to us and we seek the most appropriate options whether these are from a Clearing Bank, Challenger Bank or specialist lender. This approach enables CFS to provide (subject to the Client’s specific position) a range of choices and maintain open communication and transparency in the transaction.
CFS is appreciative that many of our clients repeatedly use our services.