With thousands of SMEs benefitting from £1.2 billion of Reward Funding’s support since it first launched in 2010, the alternative lender has played a pivotal role in driving forward the alternative finance industry and supporting economic growth across the UK.

The landmark milestone follows a recent rebrand, the expansion of Reward Funding’s product offering and accelerated regional growth.

Nick Smith, group managing director of Reward Funding, said: “We have seen significant growth in recent years, and to increase the loan book by a further £100m in less than 15 months reflects our determination to be at the forefront of the lending market. It also shows that we will continue to drive it forward far into the future.

“With over 14 years in the industry we are the original alternative finance provider, and we still stand by our goal of supporting entrepreneurial people and helping their businesses thrive. Our team approach each deal individually, tackling the unique challenges they present and finding the best solution.

“This milestone achievement comes at a time where SMEs face ongoing economic uncertainty, compounded further by the challenging landscape. But our message is clear, we are here and we are ready to provide funds for businesses looking to put ambitions into motion.”