Contract for fund management services SWIG Capital

SWIG Capital wishes to appoint a suitably qualified fund manager (ideally with knowledge of the lending market in Cornwall) who has experience of dealing with lending to SMEs who cannot obtain their full lending requirement from normal commercial sources. The services include securing and monitoring of investment opportunities and monitoring and managing the portfolio during the realisation period. Promoting and marketing to potential applicants and promoting and developing relationships with partners. Locating and reviewing investment opportunities in line with the strategy and objectives of SWIG Capital. Dealing promptly and efficiently with applications for funding.

Perform initial review of applications, reject or proceed to full appraisal. Appraising and rejecting or approving investment opportunities, assessing commercial viability and potential for success, considering normal commercial factors, such as the applicant's business plan; quality of the management team; the track record of the business; potential risk; likelihood of success; The potential market for the product or service ensuring no displacement of activity. Negotiating the terms of lending and security and making recommendations to the Investment Committee or such other body approved by SWIG Capital designated to consider and approve lending proposals.

Managing the loan and due diligence process from start to legal completion. Monitoring the financial performance of the applicant for funding between sanction and legal completion and reporting to the Investment Committee any issues which may impact on the future viability of the investment including profitability or cashflow.

Monitoring the loans and collecting output data. Please see attached ITT and fund management agreement for more detail.