Asset-based lender opens new Midlands office
Secure Trust Bank Commercial Finance has opened a new office in the Midlands as it looks to expand its presence across the UK regions.
Headed up by regional managing director, David Parsons, the firm’s Midlands office is situated in the Cornwall Building on Newhall Street, Birmingham. In addition to the Midlands, the office will also work with businesses across Wales and the South West.
The firm has been particularly active in the Midlands over the last year, having lent £61.5m to businesses in the region in 2017. This comes amidst strong national growth figures, with Secure Trust Bank Commercial Finance doubling its lending balances for the second consecutive year, providing a total of £126.5m to SMEs across the UK.
The team has completed a number of deals in the region in 2018. In March, Secure Trust Bank backed Redditch-based Carpet & Flooring Limited with a £15m asset-based lending facility to support strategic acquisitions. More recently, the lender provided £35m to Dudley-based Meridian Metal Trading, one of the largest fully independent steel stockholders and processors in the UK.
The firm has also strengthened its team on the ground, appointing Alan Horton as the regional sales director. Alan joins the company from Santander, where he was a new business director and previously head of client management for the Midlands and Wales. Alan has worked within the Midlands for 20 years with HSBC, Liquidity and latterly with Santander. He brings over 12 years’ experience of working within the Midlands’ asset-based lending market.
The company will be appointing a new head of operations in the region, and will be recruiting for further client service roles and business development roles.
David Parsons, regional managing director at Secure Trust Bank Commercial Finance, said:
“After our stellar performance in the region over the last 12 months, it was an obvious decision to expand into the Midlands. We’ve seen a record number of enquiries from businesses in the area, and this new office enables us to meet with these companies a lot more conveniently. We’re happy to have Alan on board and bring his expertise to our newly established Midlands premise.
“Since the commercial finance arm of Secure Trust Bank was established in Manchester in 2014, we have continued to serve businesses across all of the UK regions. We now believe that, with an office in the Midlands, a sales team in the South and a Yorkshire office in the pipeline, we are able to offer a more complete service to all our existing and prospective clients across the UK.”
Alan Horton, regional sales director at Secure Trust Bank Commercial Finance, said:
“After a number of successful years at Santander, I am delighted to be given the opportunity to help grow Secure Trust Bank’s commercial offering in the Midlands. The Midlands is a growing, diverse economy and I truly believe our attitude to doing business and product suite can enable us to support Midlands companies and help them achieve their ambitions.”