White Oak launches Business Ready loans
Independent business lender White Oak has announced that it is looking to support businesses looking to prepare for the return to work with a Business Ready Loans. The loans will range between £25,000 and £250,000 allowing the flexibility for small improvements and larger office refurbishments.
As the UK emerges from lockdown and the vaccination programme continues, more businesses are looking at their needs in terms of office space. Most businesses have underlined a commitment to more flexible working practices in a post-Covid world with offices needing to be adapted.
White Oak has responded to activity from clients looking at financing options to support the reopening of offices and workspaces across the UK. The new product is targeted across sectors at any businesses looking at their post-Covid future including traditional office space, retailers, and hospitality.
The firm has experience in supporting office refurbishments, recently supporting a Legal 500 Top Tier 2020 law firm with a £1.9m business development loan to enable the refurbishment of their London offices. The White Oak team acted fast, performing a site visit to confirm the usage of funds, and enabling the company to get the refurbishment under way while most employees are working from home.
With offices in London, Glasgow, Southampton, Manchester and Ewloe in Wales, White Oak benefits from national coverage and has supported businesses around the country. The firm has also been committed to supporting SMEs throughout the coronavirus pandemic as an accredited CBILS lender providing £350m in government-backed loans.
Andy Davies, managing director of White Oak Leases & Loans, said: “We pride ourselves on being responsive to the needs of businesses in the UK and this is a great example of that. We are hearing more and more from SMEs that they are looking at making changes to their workspaces to adapt to the new normal post lockdown. Financing options for these upgrades and refurbishments need to be flexible and efficient in order to the meet the needs of SMEs and this is what this delivers.”
