Cyber security consultancy secures £1.5m loan to support growth plans
ECSC Group will use the funding from the independent asset manager BOOST&Co to take to market its well-invested, proven and highly commended cyber security offering
Cyber security service provider ECSC Group has secured a loan of £1.5m from the alternative lender BOOST&Co.The funds will be used primarily for growth and working capital, helping to increase the group’s headcount to support clients and maintain their commitment to continually evolve their offering.
The Bradford-based firm works with organisations to create a cyber security solution that works for all customers regardless of size and budget. Founded more than 20 years ago, ECSC supports its clients by detecting and protecting against potential breaches and by providing an incident response service if a breach were to occur.
BOOST&Co has chosen to work with ECSC as the group is a well-established cyber security provider with extensive industry experience and expertise. The business also operates in a sector with strong market drivers and has high growth potential.
BOOST&Co is a leading provider of growth capital for innovative, fast-growing UK SMEs.
The independent asset manager offers loans ranging from £1m to £10m, covering a wide range of sectors, with a strong track record in technology, media and telecommunications (TMT). It has funded more than £500m across more than 130 deals to date and provided close to £200m under the government’s CBILS initiative to support SMEs during Covid-19.
Ryan Sorby, head of the north and Scotland at BOOST&Co, says “ECSC has a fantastic commitment to the sector. The team knows it exceptionally well and has invested heavily in its product, which really suits the current market demands.
“Our funding will help accelerate the firm’s growth, including additional headcount into the sales and marketing functions of the group. ECSC has a great track record of winning high calibre customers and our funding will enable the business to showcase its capabilities and continue this success.”
Gemma Basharan, chief financial officer at ECSC Group, says: “BOOST&Co has provided additional funding to support the group’s overall organic growth plans and this funding will enable us to increase the size of our team and further establish our marketing activity.
“Ryan and the team demonstrated a thorough understanding of our business and sector throughout the entire funding process. This loan will support us in an exciting stage of growth and enable us to continue to provide the very best assistance to our clients, further cementing our reputation as a trusted cyber security provider to businesses of all sizes and needs.”
The advisory for this deal was provided by Damian McGann of Funding Friends Ltd.
https://wp.freedomhost.uk/fundingfriends/wp-content/uploads/sites/340/2025/10/comp-768x512-1.jpeg512768Hiran Panchalhttps://wp.freedomhost.uk/fundingfriends/wp-content/uploads/sites/340/2025/03/funding-friends-logo-v2.pngHiran Panchal2022-02-01 21:51:152025-10-15 21:58:22Funding Friends Ltd Supports ECSC PLC With Growth Capital Funding
As we approach the end of another turbulent and volatile year of travel plans – particularly overseas – we took the opportunity to speak with our friends at Graham and Sibbald and Cambridge & Counties Bank to get their take on the state and outlook of the UK holiday let market.
We started by asking Martin Davis Director Hotels and Leisure at Graham and Sibbald – How do you see the current market for UK holiday lets?
National and international lockdowns from the COVID-19 pandemic saw holiday plans cancelled overnight, forcing many holidaymakers to remain in their homes for the majority of the year. This has increased the appeal of holidays for many consumers, looking to make up for lost time and reconnect with family and friends abroad.
According to Mintel, 17% of UK travellers planned to take a holiday of a lifetime once the coronavirus pandemic is over (up from 10% pre-pandemic), 37% of domestic holidaymakers plan to take more staycations when the outbreak is over, 21% of those who typically took short-haul holidays before the pandemic plan to take more holidays in Europe and 30% of UK travellers plan to take a holiday with friends once the coronavirus outbreak is over, whilst 18% plan to take a multigenerational holiday.
Because of the restrictions throughout 2020 and 2021, people are now wanting to take the holiday they have always dreamt of, such as a round-the-world trip. However, due to the ongoing uncertainty about the lifting of international travel restrictions and the recent fears surrounding the OMICRON strain of the virus, staycations have started to feel like a much safer option for those that are keen to get away for a short break with VisitBritain forecasting a 10% rise in visits in 2021 to reach 11.3 million, although this represents just 28% of the 2019 level.
However, as a note of caution it was reported that of the 290 independently owned Best Western hotels in the UK, three-quarters have seen an increase in Christmas cancellations and 89% have expressed concern about the festive trading period. About 70% have seen a decline in bookings since the Omicron variant emerged. – (The Guardian)
Cambridge & Counties Bank added that it’s a potential boom time for the UK holiday letting sector.
The UK has experienced a significant boom in so called staycations over the past few years and the expectation is that demand for UK holidays will remain high even after the world normalises in the wake of Covid-19.
The continued growth of online platforms such as Airbnb and other increasingly sophisticated lettings platforms, are making it ever easier for people to search for and book accommodation. This further boosts the UK holiday sector from both UK nationals but also foreign holidaymakers and travellers.
Several market reports point to a healthy, competitive, and growing market for quality UK holiday property and accommodation.
Cambridge & Counties Bank itself commissioned research among both consumers and finance brokers on the subject to support our dedicated lending product for people looking to buy and invest in the UK holiday lets sector.
Our research, which was run in mid-2020, found that the majority (85%) of people expect to see an increase in their fellow Brits taking domestic, UK-based holidays across 2021 and 2022.
Cornwall (cited by 69%), the Lake District (65%) and Devon (53%) were the top three destinations set to see the biggest increases (see table below).
In terms of the types of properties expected to be the most popular, almost three quarters (71%) said they thought coastal properties will prove to be the most attractive for holidaymakers. This was followed by rural/ countryside properties (67%) and properties in National Parks or similar (47%).
UK staycations boom – top 10 destinations expected to see the greatest rise in UK staycationsover the next two years
Location
% of respondents
Cornwall
69%
Lake District
65%
Devon
53%
Peak District
40%
South Coast
40%
Scottish Highlands
35%
Dorset
33%
Cotswolds
30%
South West Wales
26%
Yorkshire
24%
Source: Cambridge & Counties Bank, May 2020
Indeed, as the market has grown and evolved, so too has the breadth, range, and sophistication of assets. There has been an increase in city and town properties, particularly flats, for instance, as people show a preference for self-catered accommodation which offer additional facilities such as cooking, lounges to relax and hot tubs, compared to most hotels.
Likewise, more and more holiday let owners are marketing properties with a link to an activity or theme, such as golf, with a focus on larger properties with, say, 10 beds plus. In many cases this is taking advantage of people no longer willing or keen to go abroad for their golfing holidays.
Given the dynamics driving the market, more investors have entered the sector, with many experienced property investors expanding outside of buy-to-let into holiday lets.
Martin agreed adding “Ultimately, the holiday let model can be a very attractive proposition to operators and investors, given the high profitability that these types of business can generate. The limited requirement for staff and other costs associated with running full service hotels and guest houses are a credible alternative to buyers looking to invest. As demand for this method of holidaying with friends and family becomes more popular, technology and booking platforms will become vital in winning market share to secure high occupancy and rate.
Carl Ashley, Director of North & Scotland at Cambridge & Counties Bank concludes: “We’ve seen strong demand for our Holiday Let lending and expect this to continue given the impact of the pandemic and the renaissance of the UK as a holiday destination.”
We asked Martin about his views on the medium-term outlook
It is likely that although there are many UK people that are keen to travel overseas as soon as it is considered safe, there are many people that have gotten used to the idea of having short UK breaks and it is felt that this is likely to continue. Furthermore, as worldwide travel re starts once again, our inbound tourism market is likely to pick up with more overseas visitors picking up on the more recent occupancy from the British guests that are keen to holiday further afield.
The speed at which the UK holiday market recovers will be heavily dependent upon when and to what extent overseas travel restrictions are fully relaxed. The continuation of enforced testing and quarantine measures remains a significant barrier for many, as well as the potential emergence of new vaccine-resistant strains of COVID-19 such as OMICRON which makes governments more hesitant to allow non-essential travel to or from the affected regions.
When restrictions are relaxed, reconnecting with family and friends will be a key travel and holiday motivation. The vaccine rollouts throughout 2021 have made travellers feel more comfortable about returning to popular or busy holiday destinations, providing optimism for hard hit segments such as cruises, group tours, and city breaks.
Holidaymakers in healthy financial situations will be looking to treat themselves by choosing more luxurious options than they usually do. However, nature-based, leisure and coastal breaks also have high growth potential, with many consumers opting for quieter areas to visit with operators such as Bike & Boot emerging successfully from the long period of lockdown.
Carl added looking forward, the expectation remains that the UK ‘staycation’ sector will grow in importance. The UK is a world-class holiday destination and boasts many excellent coastlines, cities, tourist sites and facilities. After the difficulties of the past two years, it is an exciting time to be investing in the sector for many people.
We also asked the teams why would a holiday let company be well advised to speak to an independent advisers?
Carl stated lenders such as Cambridge & Counties Bank are focused on working with landlords and brokers in helping more people invest in the lettings sector. We look for experienced, passionate, and focused investors active in key locations offering quality assets with a clear business plan. An understanding of the dynamics shaping the sector and how best to optimise buildings is vital to long-term success.
And while holiday lets can generate a higher yield, it is very important to stress there are inherent risks and assets need to be correctly managed and maintained. Location and quality are very important as bad reviews can impact future bookings, and there has also been a growing focus on second-home ownership and the impact on affordability.
As such, talking to independent specialists, including brokers, can be a great place to start – both for experienced investors as well as anyone interested in entering the sector for the first time.
Martin added “There is no doubt that buyers and investors should really do their homework and obtain professional and impartial advice when looking at acquiring any kind of holiday, hotel or B&B business. There are many potential pitfalls and all too often we have seen businesses fail where owners have let their hearts rule their heads. The team at Graham + Sibbald are well placed to provide considerable help and advice from valuation and agency brokerage through to planning, rating and even sustainability advice”
Damian McGann Director at Funding Friends added whilst the market is relatively buoyant it’s still critically important to find the right funding solution with sensible levels of gearing so that any downturns or short term shocks can be managed effectively.
We work with all the major lenders in this space and would be delighted to have a conversation to discuss what options the market currently has to offer.
https://wp.freedomhost.uk/fundingfriends/wp-content/uploads/sites/340/2025/10/holiday.jpeg622768Hiran Panchalhttps://wp.freedomhost.uk/fundingfriends/wp-content/uploads/sites/340/2025/03/funding-friends-logo-v2.pngHiran Panchal2021-12-13 21:57:152025-10-15 21:58:05Friends “In the Know”- The UK Holiday Let Market
The range of different types of funding available to SMEs may sometimes feel a little daunting, as there’s a plethora of options available from a wide range of different types of funders.
Gone are the days of a loan or an overdraft facility from your bank being the only options for your business. The variety of options available is a huge benefit to SMEs. The key is finding the right fit for your business at the right time.
Through a series of articles, we’ll be speaking with our funding partners to explain the key uses and benefits of the different business funding options out there. Starting with Asset Finance, in a Q&A with Praetura Asset Finance’s Commercial Director, Ric Simmons.
Q: First of all, let’s have a brief introduction to Praetura Asset Finance – who are you and what do you do?
A: Praetura Asset Finance (PAF) are an independent asset finance funder who were founded in 2014. We’d seen a gap in the market that we wanted to fill, bringing the personal touch back to asset finance, putting the focus back on the client and putting the needs of their business (not ours) first.
We’re not a ‘tick box’ lender. The decisions we make are drawn by looking to understand more about each business and working with brokers and their clients to specifically structure our funding to suit their specific circumstances. We are a growing company, but that ethos will never change.
Key decision makers are involved at an early stage, which can speed up the process immeasurably. We also have the added advantage of being part of the wider Praetura Group, so we work collaboratively with the other companies in the Lending Division (Praetura Commercial Finance, Praetura Invoice Finance and Kingsway Finance) and our equity arm (Praetura Ventures) too.
Q: How can asset finance help SMEs?
A: Put simply there are two ways for businesses to use asset finance: to either fund the purchase of a new asset or to refinance assets you’ve already got.
The first option, a way of funding purchases, allows a business to invest in new, or upgrade existing assets via hire purchase or leasing facilities.
So, if you need new machinery to help your business expand or diversify, you want to upgrade or add to your fleet of vehicles or you’ve a new contract to service so need a new tractor, digger or dumper (or something else), asset finance can help.
When we’re talking about assets, this falls into two categories too – hard and soft. PAF offer hard asset funding facilities for vehicles and machinery for a wide variety of industries (including manufacturing, engineering, farming and forestry, haulage, couriers, printers, builders, plant hire contractors and more). If you’re looking for funding to purchase something like IT equipment, shop fit-outs, media and entertainment, healthcare or catering equipment (and more), that would fall into the soft asset category which our sister company Kingsway Finance (also part of the Praetura Group) provide funding for.
The second way to use asset finance is asset refinance funding, where you can unlock cash from the value of the assets your business already has. In essence, it’s a way to release equity from your business’ vehicles or machinery to help your business, or consolidate existing agreements to reduce monthly outgoings.
Q: What would you say are the key benefits of assets finance?
A: There are many! If we go back to the two ways to use asset finance, we’ll start with hire purchase and leasing… the most obvious benefit is avoiding the huge dint in your cashflow that an upfront purchase can make. Instead, the costs are spread in manageable monthly payments across a period of time and the asset is making money for your business while you’re paying for it. This way of purchasing your business assets means that you can stay up-to-date with the latest tech, production methods and preferred vehicle types and there are tax benefits for your business too (with hire purchase, the interest and charges are offsetable against pre-tax profits and with leasing the payments can be deducted from income as a trading expense).
From the point of view of asset refinance, I’d say the simplicity of this funding tool is the first thing that stands out: you’re using something your business already has, to provide you with the funding to expand and grow, to bolster cash reserves or to help consolidate debts. You’re not taking on any additional risk, and if you already have assets that are on finance, refinancing them could reduce your monthly outgoings too.
Q: Are you seeing any interesting trends in the SME landscape at the moment?
A: We are seeing a noticeable increase in the number of mergers and acquisitions at present, which is a trend that we expect to continue. As this happens, you’ll see another raft of businesses utilising asset refinance to assist with the capital raising needed for MBOs and MBIs (often alongside invoice finance facilities and other asset-based lending that our colleagues at Praetura Invoice Finance and Praetura Commercial Finance can assist with).
Consolidation I also expect to be a key watch word, both consolidation of companies and consolidation of debts. Due to a whole host of different circumstances combining including lockdowns, Brexit regulations, driver shortages, supply chain issues, fuel price increases and the rising cost of raw materials, huge pressure has been placed on the cashflow of SMEs across the country. The government-backed assistance through CBILS and BBLS has offered lifelines and cushions to many, but the interest-only payment period for the majority has now ended, or is due to soon, so there’s another set of monthly payments that the money now needs to be found for. And yes, asset refinance could help businesses in these situations too. Brokers and funders will work with businesses to review their options, reduce their monthly payments and release an injection of working capital (what at Praetura Asset Finance we call the ‘Refinance 3 Rs’).
Q: Do you have any top tips for SMEs when it comes to investing in assets?
A: Consider all the angles to ensure you’re getting the right type and right level of funding. This is where ‘consultant lending’ is key, which is something we pride ourselves on at Praetura: looking at the whole picture rather than just the immediate circumstances. For example, if you’re wanting to invest in a new truck to service a new contract, have you considered when the income will start being generated from the new work, has that been factored in, or does a deal need to be structured to take that into account?
Damian McGann Director at Funding Friends said
Its important that businesses look at their medium term cashflow position and whilst sometimes tempting to buy assets for cash structuring repayments over the likely useful life of an asset is often advisable to smooth out the likely peaks and troughs in company cashflows.
This is particularly prevalent at the current time when many companies are in growth / expansion mode as despite some short term challenges the medium term economic position looks encouraging. As such working with relationship brokers who can advise on what is available in the marketplace and advise both the best solutions and lenders to provide them is a sensible strategy.
Damian McGann Director of Funding Friends Ltd said “We are all delighted for Andy on this well deserved recognition – I’ve been lucky enough to work with Andy previously and its no surprise to me that the skills which he crafted in his banking career have enabled him to quickly add value to our clients in his next chapter”
Funding Friends Ltd – the FCA authorised debt advisory and brokerage business are delighted to have assisted Air Control Entech Ltd with the financing of Elios 2 Confined Space drone equipment.
Operating in potentially hazardous confined spaces, often at height and with limited visibility, this expansion of its robotic inspection fleet will ensure Air Control Entech Ltd customers have a safe and reliable experience that also minimises costs.
Andrew Robertson appointed representative at Funding Friends Ltd stated “I have known Derek for many years and having a long involvement with the energy services market, I was delighted to be able to secure this asset financing of key equipment for them.”
Derek Smith Director at Air Control Entech stated “We were delighted that Andrew at Funding Friends was able to secure the funding package for us on the terms we had requested. Funding assets that many funders deem unusual because of their relatively bespoke nature can be both time consuming and challenging and working with Andrew who has access to the entire finance market unlocked the opportunity for us.”
https://wp.freedomhost.uk/fundingfriends/wp-content/uploads/sites/340/2025/10/Air-Control.jpeg240394Hiran Panchalhttps://wp.freedomhost.uk/fundingfriends/wp-content/uploads/sites/340/2025/03/funding-friends-logo-v2.pngHiran Panchal2021-09-30 22:03:492025-10-15 22:04:10Funding Friends Ltd supports Air Control Entech Ltd With Drone Financing
Welcome to the next in our series of blogs where we look at hot topics in the lending markets.
This blog focuses on the UK hotel sector and we discuss the marketplace outlook for the sector.
We asked our friends at Bank Leumi UK and Hospitality Options for their perspectives on the matter.
Louise Gillon who is the head of hotel finance at Bank Leumi UK told us:
“As the UK’s vaccination scheme continues at pace, it’s time to think about a vacation. With the latest figures revealing that households saved over £45 billion more than during the same period in April 2019, this would suggest much of the population may currently be able to afford a holiday. However, with countries going from green to amber to red faster than dodgy traffic lights, it is little wonder a staycation boom is imminent as people enjoy a well-deserved break.”
“Following on from ‘freedom day’, there’s much to be optimistic about for the leisure and hospitality sectors, providing new variants and case numbers of Covid-19 remain under control and restrictions don’t return through ‘overenthusiasm’ over caution. Coupled with the fact that close contacts of people in England who test positive for Covid-19 won’t have to self-isolate if they have received both vaccinations or if they are under 18, the UK looks set for a ‘staycation boom’.”
“However, subprime city locations reliant on foreign and business travellers may continue to struggle this year, as domestic tourists look to coastal and country locations for their summer sun and dose of nature. City-breakers and domestic business travellers will be attracted to prime, trophy hotels as luxury and comfort rockets up their list of priorities. Without wealthy foreign tourists, these hotels are having to re-position themselves in the market to attract a greater share of domestic guests.”
“In the absence of clarity, the hotel sector may be reliant on domestic tourists to prop up the market until international visitors can return to our shores. From a financing perspective, hotel projects should always be undertaken with a long-term viewpoint – so this is unlikely to impact reaching stabilisation, providing Covid-19 case numbers stay under control.”
Mark Butler who is the managing director at Hospitality Options Ltd had very similar views from a marketplace perspective – he commented:
“The hotel sector closed overnight and has been in and out of lockdown ever since. It is still in hibernation in many locations however there are many reasons to be optimistic”
“Rural hotels are experiencing good growth and the staycation market is seeing a boom through the summer and this is widely predicted to continue into autumn and beyond.”
“The corporate hotel market remains heavily exposed to the current constrictions of government COVID policy, but consensus is building that there will be a strong bounce back as restrictions are lifted and confidence grows. Our view is that many people have an innate desire to return to ‘in person’ conferences, meetings, events, concerts etc and hotel room revenues will rebound strongly over the next 12 to 18 months.”
“The jury is out on when and how strongly international travellers begin returning to the UK, but they have been a very significant contributor to the larger Cities hotels market, and we expect government to do what it can to restore confidence.”
“In many respects, the ‘trading week’ has been inverted, with the Monday-Thursday corporate market disappearing, whilst lots of families and couples have decided to ‘get away from the house’ and enjoy themselves with friends and family over the weekend.”
We asked Louise and Mark what their thoughts are in this market from a lending and operational perspective and any tips for those in the sector.
Louise added “As a boutique lender with specialist knowledge and the ability to be flexible, we think there is a real opportunity right now to step in and fill the gap left in the market by other players. High street banks are largely still not lending, meaning there is more demand for boutique lenders like ourselves. The volume of business crossing our desks, from both new and existing customers, is testament to this and the hard work of our experienced and dedicated teams at Leumi UK.”
“Hotel development projects have really been undertaken a lot by investment funds following the outbreak of the Covid-19 pandemic. There’s money waiting to go there, just not from traditional high street lenders at present.”
“Another unique factor coming out of the Covid-19 crisis is significant competition among active mezzanine providers and emerging debt funds to sweep up the opportunities out there. That said, the type of debt offered is different, banks offer facilities usually around three to five years, whereas debt funds act on a considerably shorter timescale. How we structure our facilities therefore ensures we offer sufficient support to both existing and prospective clients rather than be opportunistic, given that our core approach to lending is to be relationship-driven with a long-term mindset.”
“From a risk perspective, the threat of long-term systemic risk to the banking sector seems unlikely. Most lenders have operated sensibly since the return to business following the Global Financial Crisis (GFC) with a clear demarcation between debt and equity risk.”
“However, the nature of the Covid-19 crisis and economic fallout was nothing that we’ve ever witnessed before, and so certain elements of the real estate sector look likely to either never fully recover from the impacts of Covid-19 or will emerge from the pandemic with an entirely different investment offering tailored to the new environment.”
“That said, debt fund and bank debt are not the same. Banks generally offer 3-5 year funding, debt funds considerably short. So the watchword is buyer beware.”
Mark added:
“To survive and prosper, hotels must thoroughly review their operating structure, to ensure their cost base is commensurate with forecast sales income. Tough decisions may be necessary on costs and management will need to work hard on renegotiating terms with their suppliers and challenge themselves on the staffing structure.”
He also went on to talk about operational excellence in which he stated:
“It is critical for operators to understand in detail its revenue streams, and objectively review the broader customer offering and service levels. To try and become “best in class”, hotels that just rely on bedroom income will suffer for the foreseeable future. City centre hotels have been severely affected by people working from home, however those with leisure facilities and a good food offering are experiencing growth, particularly at weekends.”
With regard to lenders/creditors and investors he stated:
“Banks are concerned at the level of debt taken on by borrowers, largely as a result of the CBILS/ BBL schemes and across the property sector there is a mountain of rent arrears to resolve.”
“It is vital that hotel operators communicate openly with banks and creditors to try and reach a good outcome for all. Key to this is building confidence in the borrower’s business plan.”
“Management/ operators must have a well thought through set of financial projections that can be reasonably justified and defended. Clearly, trading performance of the last 16 months or so cannot rationalise the forecasts for the future, but we are seeing some evidence that those customers who have been communicating with their lenders/ creditors, having taken decisive action to bring in new sales, marketing and digital initiatives are receiving a fair hearing. If not, all is not lost.”
“In general terms the private investor and private equity market is awash with cash and new investment will be available to operators that can justify the quality and location of their facilities/ offering and are willing to agree a good rate of return to those investors…..the right investors will not be afraid to support the business through a process that involves certain creditors having to settle for less than they are owed, if it means the business can survive and prosper.”
Damian McGann – Director at Funding Friends stated that hospitality was a key sector and one that the team at Funding Friends have deep experience in. Our view is that the UK market will remain strong in the medium term following the inevitable short term bounce and as a result will remain an attractive asset class for banks to lend into.
Winners in the sector will have a good brand and positioning as well as a sensible cost structure relative to the experience they are attempting to create.
Strong location will remain a factor however the city / tertiary / rural debate is more polarised in opinion long termfollowing the pandemic and time will tell how that plays out.
He concluded that having the right financing structure is key and we are happy to advise on refinances / new borrowings and hotel developments.
Bank Leumi (UK) plc is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority (www.bankleumi.co.uk)
Funding Friends Ltd is a broker not a lender and is regulated by the FCA and a member of the NACFB (www.fundingfriends.co.uk)
Hospitality Options Ltd are strategic advisors to hospitality businesses and happy to provide a “healthcheck” to management teams (www.hospitalityoptions.co.uk)
https://wp.freedomhost.uk/fundingfriends/wp-content/uploads/sites/340/2025/10/download.png200200Hiran Panchalhttps://wp.freedomhost.uk/fundingfriends/wp-content/uploads/sites/340/2025/03/funding-friends-logo-v2.pngHiran Panchal2021-08-06 22:05:152025-10-15 22:05:37Friends “In the Know” – What’s the future for hotel funding?
