Funding lifeline for small firms

Seneca Investments, which is part of the Seneca Partners Group, has been set up to provide funding and services to companies in distress or needing help with turnaround strategies.

Seneca Investments is being led by Melanie Hird and Patrick Bywater and operates from bases in Leeds and Wakefield.

Ms Hird spent several years in the corporate restructuring market before founding Frontline Investment Opportunities in 2008 with her business partner Mr Bywater.

Ms Hird said yesterday: “There is increasing demand from SMEs (small and medium-sized enterprises) experiencing some form of financial distress for the financial and business support that myself and Patrick have been providing for many years. 

“Becoming part of the Seneca Partners Group will open the door to so many more solutions for companies throughout our region.”

Seneca Investments will provide investment funding up to £2m per transaction, with a typical deal size of £200,000 to £500,000.

Funding is to be provided by SenOne, which is managed by the Seneca Group. 

Ian Currie, who heads Seneca Partners, said “With market conditions the way they are, and the continued restricted availability of credit there will be an increasing number of companies who are seeking the support and financial investment that we can offer. 

“We are committed to expanding this part of the Seneca Group in short order and I am delighted that Melanie and Patrick have agreed to join the team to develop this business.”