A NORTH-west business specialising in providing short-term finance is experiencing unprecedented demand.

Excel Securities claims the trend may be the result of the proliferation of a new breed of entrepreneur in the region. The firm was established just four years ago, but in the last 12 months has successfully completed more than 100 loans.

The amounts involved ranged in value from £100,000 to £2 million.

Excel managing director Laurie Hoffman said: "Increasingly, we are seeing entrepreneurs who need an immediate cash injection turn to us for funding to get their latest venture off the ground.

"They are commercially sophisticated and, even though they are paying that little bit more for the luxury of a quick loan, they're willing to take it on to avoid being slowed down by mainstream funding routes which may result in them losing out on the deal completely."