Meet the lender – Neil Wade, Finance For Enterprise

In the latest instalment of our Meet the Lender series, we speak with Neil Wade, senior business lending manager at Finance For Enterprise. With decades of experience in commercial lending, Neil discusses current market trends, how brokers can add real value and why alternative finance is more vital than ever for UK SMEs.

What trends are you currently seeing in the market?

Experience is rapidly disappearing from high street banks, leaving many business owners without access to someone who truly understands their business, can act as a sounding board for their ideas and can work with them to bring those ideas to life. Increasingly, small businesses are directed to call centres, with no direct contact at all with their bank. In this environment, a high-quality finance broker can play a crucial role. At Finance For Enterprise, the majority of deals we handle come through our broker network – but the quality of these introductions varies significantly. The strongest deals typically come from brokers with a background in the finance sector who understand what makes a proposal fundable.

What advice would you give to businesses seeking financing for the first time?

Before approaching lenders, it’s essential to have a well-prepared business plan supported by the right documentation. This should include your financial accounts, up-to-date management information and forecasts that clearly show the expected impact of the funding on your business. Approaching funders with a vague idea and little to no supporting evidence is unlikely to result in success. An experienced finance broker can guide you through this process, helping you present a strong, well-structured case to potential lenders and significantly improve your chances of securing funding. Remember, your business plan isn’t just for the lender – it’s a vital tool for you, too. Regularly reviewing it will help you stay on track and measure progress against your goals.

Do you foresee the lending landscape changing in the next few years and if so, how will this impact finance?

The retreat of mainstream lenders in recent years – most notably Lloyds’ recent decision to exit the factoring market – has paved the way for a surge in alternative finance providers. However, navigating this complex and varied landscape can be overwhelming for business owners. With lenders offering everything from bridging and trade finance to asset finance, invoice discounting and unsecured loans, understanding who provides what – and on what terms – can be a real challenge. This is where a high-quality finance broker can make a significant difference, saving business owners valuable time and increasing the chances of securing the right funding solution for their specific needs.

What motivates you personally in your work as a lender?

I’ve worked in the finance industry since 1988, when I landed my first job with TSB – and as odd as it may sound, I’ve genuinely loved it ever since. There’s something incredibly rewarding about supporting businesses and watching them succeed as a result of the funding we help provide – whether it’s for an acquisition, new premises to support growth or simply to boost working capital. Over the years, I’ve had the privilege of working with businesses at every stage of their journey – from start-up through to multi-million-pound exits. Seeing entrepreneurs reap the rewards of their hard work and knowing we’ve been there to support them every step of the way, is what makes it all worthwhile.

How long have you been working with Evolve Business Finance and how has the partnership benefited your business?

I’ve known Stef since his days at Siemens – more years ago than I’d care to admit! What’s always stood out is that Stef and the team at Evolve share a genuine commitment to helping businesses secure the right funding to support their success, rather than simply chasing the most profitable deals for themselves. Evolve has access to a wide range of funding sources but more importantly, they truly understand each lender’s products and appetite. That knowledge saves valuable time for both their clients and funders by ensuring deals are directed to the most suitable providers. They also make sure we receive all the necessary information upfront, which allows us to respond quickly – even if the answer is no. Unfortunately, we can’t approve every deal but our biggest frustration is being asked for a quick decision without having the full picture. With Evolve, that’s rarely the case.

Can you share something about yourself that people might be surprised to learn?

Most of my spare time is dedicated to being a puppy raiser for Guide Dogs. We’re currently working with our fourth pup – a black Labrador named Faldo (yes, after Sir Nick, the golfer!). The question I’m asked most often is: “How can you bear to give them back?” And yes, it’s always a bittersweet moment when they leave for their next stage of training. But then you receive a letter from someone whose life has been transformed by that dog – someone who has regained their independence – and it’s genuinely overwhelming. Without question, it’s the most rewarding thing I’ve ever done. I’m also incredibly fortunate to work for an organisation that supports and encourages this kind of commitment.