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14/11/2011

Andy Traynor to spearhead FW Capital’s push into Lancashire and Cumbria

FW Capital, the company which manages the North West Fund for Business Loans, has expanded its team in the North West. Former business banker, Andy Traynor has joined the company as an investment executive.

FW Capital has already lent over £2.5 million from the Fund since its launch in December 2010 and Traynor will now spearhead the push into Lancashire and Cumbria from the company’s Riversway office in Preston.

Traynor is a well-known face in the local business community and his banking career spans some 31 years. This includes a number of roles in his 27 years at Barclays as well as a stint at Dunbar Bank more recently.

Welcoming Traynor to the team, Fund Manager Gary Guest said: “Demand has really taken off since we started lending in the North West and we’ve been really impressed by the vision and commitment of some of the businesses we’ve met.

“We now need to increase our focus in Lancashire and Cumbria and Andy is well placed to do this. He’s an experienced banker who’s worked with SMEs before so he understands the pressures they face and how to structure the loan finance they need to achieve their plans.”

Traynor spent his last 7 years at Barclays in its Lancashire-based lending team working with a range of SMEs, including those in the area’s established manufacturing sector.

Traynor is excited at the prospect of working with SMEs again: “Both Lancashire and Cumbria have a distinctive mix of businesses, including SMEs operating in a range of sectors. Many are well established and their management teams very committed.

“I’m looking forward to working with many of my old contacts as well as making some new contacts. I’m keen to explain that the North West Fund for Business Loans has different lending criteria to the banks and to see how a loan could help their or their clients’ plans.”

The £35 million North West Fund for Business Loans can make loans of between £50,000 and £250,000 to viable small and medium-sized businesses (SMEs) based in the North West of England.

The North West Fund for Business Loans is supported by the European Regional Development Fund and the European Investment Bank.

Guest is excited about FW Capital’s expansion into Lancashire and Cumbria: “We’ve already built up a strong network of banks and advisers in the North West who regularly refer clients to us and the banks continue to be a particularly strong source of referrals for us.

“The North West Fund is already making a real difference to SMEs in the North West, so it’s good news that we’re expanding our reach into Lancashire and Cumbria. I’d urge SMEs, banks and advisers in the area to contact Andy on 07879 690468 to chat through the options that are available.”

Andy Leach, chief executive of North West Business Finance, the not-for-profit company set up to deliver The North West Fund welcomed the appointment: “In the current economic climate, Andy’s extensive experience in banking and lending to regional SMEs will, I’m sure, prove to be invaluable in further building the momentum that FW Capital has already created since The North West Fund for Business Loans was established 10 months ago.”

*The North West Fund for Business Loans has now been replaced by The North West Fund for Loans Plus.

North West Fund Loans Plus