Secure Trust Bank Commercial Finance has now surpassed £4bn in total lending since launching in 2014.
The specialist bank has funded £1bn worth of customer invoices in the past year, achieved an average of 85% year-on-year growth since its establishment and seen its headcount increase from six to 30.
Secure Trust Bank’s commercial arm provides a full suite of asset-based lending facilities to businesses across the UK, ranging in size from £1m to £50m and also provided £220.7m worth of funding to UK businesses up to 30th June 2019 — a rise of £33.2m on the same period last year.
John Bevan, managing director at Secure Trust Bank Commercial Finance (pictured above), said: “The commercial finance business has completely transformed since our inception.
“When we started out, our maximum loan size was £15m, which has since risen to £50m, demonstrating our size and scale in the market.”
John highlighted that its expansion into Yorkshire and the Midlands was a “driving factor” behind the bank’s growth.
“Having a base in each of the UK regions has enabled us to offer a better service to the businesses we work with which, coupled with our flexible approach to lending, has led to huge increases in facilities we fund.”
SIGN UP TO OUR NEWSLETTER TO RECEIVE MORE NEWS LIKE THIS STORY
Metro Bank reduces BTL fixed rates
Metro Bank has announced it is cutting its fixed buy-to-let (BTL) interest rates by 0.2% for borrowers up to 70% LTV...
Metro Bank CEO to step down
Metro Bank has announced that Craig Donaldson (pictured above) — the bank’s CEO since 2009 — will step down at the end of the year...
Zopa Group announces £140m fundraise
Zopa has announced that it has raised £140m by signing its largest funding round to date...
PCF Bank targets £750m lending portfolio by September 2022
PCF Bank has revealed that it is aiming to achieve a £750m lending portfolio by September 2022...
Bank Leumi UK appoints Stephen Welch as senior relationship manager
Bank Leumi UK has announced the appointment of Stephen Welch (pictured above) to the hotel finance team as the new senior relationship manager...
Cambridge & Counties appoints relationship manager
Cambridge & Counties Bank has named Andrew Arnold as a relationship manager in its Cardiff-based property finance team...
Aldermore expands regional specialist finance team
Aldermore has strengthened its regional specialist finance presence with the appointments of Justin Nel (pictured above), as regional sales manager for the South East, and Jordan Bond, as regional sales manager for the South West...
An interview with Anand Subbaraman: Big tech companies edging into financial services will ‘take a chunk’ of the banking industry
In an interview with Specialist Banking, Anand Subbaraman, general manager of digital and retail banking products at Finastra (pictured above), discusses regulators’ attitude to cloud banking, and the prospect of challenger banks holding monopolistic power in the sector...
Recognise Financial Services makes two senior hires to executive team
Recognise Financial Services has appointed David Jenkins, as chief financial officer (pictured above), and Patrick Ferguson, as chief risk officer, to its executive team...
TSB sets out new growth strategy and puts focus on customers and competitiveness
TSB has unveiled a new growth strategy as it aims to focus on better serving customers and improving competitiveness...
nCino aims to partner with an additional ‘dozen’ European banks by end of January
nCino has revealed plans to partner with around a “dozen” European banks by the end of January as it puts a “concentrated focus” on larger banking markets in the continent...