Fast Facts with Reparo: Our Deals, Our Clients, Our 2024

The Reparo team have been reflecting on 2023 and some of the trends that came along with it, plus our focuses for 2024. Get to know more about us and our work.

Smallest deal: £50,000

Biggest deal: £1,000,000

Sectors most supported?

Pubs and hotels.

Sectors least supported?

Haulage, manufacturing and construction.

Happiest story?

The refurbishment of a thatched roof pub in Devon, run by a family who are a former doctor and naval officer. They’re turning the pub into a B&B for walkers and beachgoers. For us, it’s an ideal scenario as the loan is for growth and the management team is highly motivated!

Commercial vs. Resi?

Reparo focuses on commercial security, with a much higher LTV and higher credit appetite on commercial and BTL properties. This gives us a split of around 70% commercial, 30% residential.

When do SMEs turn to Reparo? 

It’s usually either good news or bad news that drives the customer! On the positive side, it could be a new contract they can’t fund. On the more challenging end, a business approaching liquidation.

In some cases, the businesses are in the early stages of being ‘distressed’ – usually servicing a number of unsecured loans that were provided without proper forecasting or due diligence (same day online application and payout, for example).

These options can be fine in isolation, but when an SME takes out five to ten of them from different lenders over the space of a few months, it can cause real cash flow problems.

Reparo will try to consolidate the debt using security, into a manageable monthly payment. And we won’t throw fuel on the fire with another unsecured loan – it’s just not a long term solution.

The Reparo team talks to SME owners every day and we truly admire them. There is always a reason behind every loan and it takes real character to share it all with a stranger in the hopes of getting support.

Deals converted?

Each year, we convert around 5% of our enquiries into funded deals. It’s perfectly normal for deal opportunities to fall away due to changing needs and circumstances – SMEs are ever-evolving and we understand that. Or clients are simply ‘window shopping’ which we always encourage them to do, to explore their options and make an informed decision.

2024 focuses? 

Reparo Commercial Director, Steve Richardson says: “In 2024, team Reparo are focused on three things…

1) Doubling our number of key brokers. These are brokers that work well with storybook lenders such as ourselves and are client focussed first and foremost.

2) Increasing our BDM team across the North and the Midlands (more news on this to come!).

3) Working with our partners to develop our products to suit new commercial realities in 2024.”