It was announced recently that the number of new loans to small and medium-sized enterprises (SMEs) increased in the first quarter of 2018.

According to data from UK Finance, in total there were 73,971 approvals between the start of January and the end of March, as opposed to 72,272 for the same period of time last year.

Stephen Pegge, Managing Director of Commercial Finance at UK Finance, commented on this that the heightened demand in both the production and manufacturing industries played a part in the rise. He also said that as banks are currently approving eight in ten applications for finance, SMEs should rightly feel confident about applying for credit to grow and expand their organisations.

Though business loans are not suitable for every company here in Yorkshire and the North East, there are plenty of reasons why many consider them.

An organisation may be experiencing great success and need to upsize, for instance, yet does not have the funds readily available to move office. Likewise, it may require more equipment, have identified an opportunity that it is confident will outweigh the potential debt or be looking to invest in some new talent.

Despite the above, it must be noted that business owners can make mistakes when attaining a loan which is likely to have a knock-on negative effect in the future. Not understanding the terms and conditions, possessing incorrect knowledge of the financials and failing to fully explore options are just three examples of these.

In knowing the impact of financial pressure, the Leeds, Harrogate, Bradford and Darlington-based teams at Walsh Taylor are always on hand to advise you if your company is in a precarious financial position.

To read our case studies on how we have helped others to secure desirable outcomes, please click here.

Alternatively, for more information on our services, feel free to call us today on 03300 244 660.

Mary Taylor

Mary began working in insolvency for a national accountancy practice in Glasgow thirty years ago and worked in most divisions of the insolvency department.

She then moved to a smaller firm so she could advance her knowledge on a more hands on basis. She moved back to Leeds in 1987 and commenced working with a small firm of accountants and subsequently made partner.

She left in 1999 to set up her own practice, McCann Taylor.
McCann Taylor became involved with the consumer market both in England and Scotland.

Mary sold McCann Taylor in March 2007 and formed Walsh Taylor to concentrate on helping businesses experiencing financial difficulties.

Meg Heath

Meg has a background in supporting SMEs, including the raising of finance and advising on organisational change. She is a non-executive director of companies in the private and third sector, including Walsh Taylor.

Previously she was Deputy Fund Director of one of the largest CDFIs in the UK, and has experience of the social enterprise, charity and private sectors. Her experience of assisting companies to survive and thrive has been gained across a broad range of sectors and in companies of all sizes.

In addition to her work at Walsh Taylor she works for other private companies, including non-executive and trustee positions.

Emma Mifsud
Insolvency Practitioner

After graduating from Leeds University in 2005 with a BA Hons degree in Criminology, Emma worked for a regional law firm in both the property department and insolvency and banking department. Whilst doing so Emma gained a Graduate Diploma in Law at BPP University.

Emma then joined a national accountancy firm in 2009 gaining experience in personal insolvency before moving to a Leeds based firm. At this firm Emma specialised in bankruptcies, IVA’s and negotiating informal agreements with creditors. In 2013 Emma gained her CPI qualification.

Since joining the firm in December 2013, Emma has taken on a portfolio of personal and corporate insolvency cases to extend her knowledge and expertise in all areas of insolvency.

In December 2017 Emma become a licensed appointment taker under the Insolvency Practitioners Association, she is JIEB qualified.

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