Secure Trust Bank Commercial Finance surpasses £700m limits of funding facilities
The Commercial Finance arm of listed specialist bank, Secure Trust Bank, has continued to build on its strong performance in 2021 in the first half of 2022, with lending balances growing by 14.8% to £359.8m, with limits now in excess of £700m.
Set against the backdrop of continued economic uncertainty, with high levels of inflation and global supply chain challenges, the commercial finance team continues to support new and existing clients with flexible facilities that support growth, as evidenced by the increase in facilities.
Recent deals for Secure Trust Bank include a £12m combined facility for leading hobby and toy specialist, Hornby Hobbies Ltd, a £13.4m total facility that allowed UK’s largest woollen yarn spinner, Lawton Yarns Limited, to return to private ownership, and a £43m funding package for Butcher’s Pet Care in partnership with Blazehill Capital, to allow the Northamptonshire-based pet food manufacturer to fund its next phase of growth.
The Commercial Finance division of the listed specialist bank provides a full-suite of flexible asset-based lending and invoice finance products, ranging in size from £3m to £50m, for both SME’s and larger businesses.
Originally established in 2014, the lender now operates across the country with offices in Leeds, Birmingham, London and Manchester. Using its network of regional offices, the team at Secure Trust Bank Commercial Finance works closely with management teams to provide flexible asset-based lending solutions tailored to each business.
John Bevan, managing director at Secure Trust Bank Commercial Finance, said: “We’re incredibly proud of the way we’ve been able to continue supporting clients, old and new, throughout what has undoubtedly been one of the most challenging times for businesses.
“Our lending balances have grown by nearly 15% and that’s a testament to the hard work of our team, and the relationships they build with our clients and their management teams – not just at the point of the deal, but beyond so we can continue to be flexible with our facilities and the support we provide.
“We look forward to continuing these relationships and establishing new ones in the next half of the year.”