Home Lancashire News Rosebud fund makes two senior appointments

Rosebud fund makes two senior appointments

GC Business Finance has made two senior appointments to manage the £11.25m Rosebud fund created by Lancashire County Developments Ltd, with Matthew Robinson joining as Fund Manager and Jonathan Nelson taking the role of Senior Loan Account Manager.

As Fund Manager, Matthew will be managing an existing portfolio of around 30 companies based in Lancashire. As well as business development, he will be overseeing funds on a strategic level and reporting this to Lancashire County Developments Ltd, providing updates on how investee businesses are performing. Matthew’s previous roles include business development at Bibby Financial Services and relationship management at RBS.

Jonathan Nelson’s role will be similar to the Fund Manager – overseeing funds and supporting investee businesses. His background includes over 20 years-experience as a relationship manager for RBS in Lancashire, while more recently working with Access to Finance as a finance specialist, identifying and supporting businesses that were seeking funding.

GC Business Finance was appointed by Lancashire County Developments Ltd to the £11.25m Rosebud Fund in July 2019. The aim of the fund is to create 150 jobs per year across 12 local authority areas in Lancashire, with the fund providing finance solutions ranging from £10,000 to £300,000. The fund will be invested in a variety of sectors, including manufacturing, digital and creative, and professional services.

GC Business Finance was established in 2002, providing alternative finance options for growing businesses that have been unable to obtain funding through a mainstream lender.

Chris Hutchinson, Head of Lending at GC Business Finance said: “We are excited to be welcoming both Jonathan and Matthew on board to manage the Rosebud fund and are confident that they will deliver the funding to support business growth across Lancashire, aided by their combined 50 years of experience in the banking sector.

“The Rosebud fund aims to make a positive difference to the county – helping SMEs in their growth, creating jobs and strengthening the local economy. We look forward to seeing Rosebud’s investments and the effect that this will have throughout Lancashire.”

Amin Vepari, Business Finance & Scale Up Lead at Lancashire County Council, said: “The Rosebud fund plays a key role in boosting the Lancashire economy with a strong focus on creating high calibre employment by supporting the growth ambitions of some of our most innovative businesses. Both Jonathan and Matt have significant experience of working in the business finance arena and understand the unique challenges that businesses face when it comes to finding accessible and appropriate investment.

“This will enable them to provide the funding that will unlock Lancashire’s business growth potential, and I look forward to working with them closely over the coming months.”