Mettle Investments: UK’s SME lending arm is just Reward
Unfortunately things do not look as bright for Mettle’s SA businesses, spun out of Christo Wiese’s Tradehold
Specialist financier Mettle (https://www.sharenet.co.za/v3/quickshare.php?scode=MLE) – which was last year spun out of the Christo Wiese-controlled Tradehold (https://www.sharenet.co.za/v3/quickshare.php?scode=TDH) property listing – continues to tap a promising niche in the UK.
In the six months to end-August, Mettle’s 90%-owned specialist secured lending business, Reward – based largely in Manchester and Leeds – increased its loan book and invoice discounting book from R1.2bn (£63m) at the end of February to R1.3bn (£67.4m).
Reward targets the UK’s small and medium-sized enterprises market, with loans between £50,000 and £2m, that are not adequately serviced by the traditional banks...