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Friday, November 24, 2017

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Secure Trust Bank issues over £20m to South West SMEs

Martin Greenland | 16:40 Wednesday 8th November 2017

Secure Trust Bank Commercial Finance has provided £22.25m of funding to 23 SMEs in the South West since launching in 2014.

This included a £2m funding package provided to Stage Electrics – a supplier of stage lighting and sound equipment to the entertainment industry – as well as funding lines to snooker equipment supplier BCE Distributors and IT consultancy Inspire.

The lender has advanced funding in excess of £150m to SMEs nationwide, supporting both organic and acquisitive growth strategies, including working alongside private equity houses to complete management buyouts, as well as enabling businesses to expand their reach and production in both the UK and overseas.

David Parsons, strategic development director at Secure Trust Bank Commercial Finance (pictured above), said: “Outside of London and the South East, the South West is one of the best performing economies in the UK, largely driven by the quality of the region’s SME community.

“A significant barrier to growth for many of these businesses is funding, but through the strength of our relationships with both management teams and the wider business advisory community, we have been able to provide flexible and tailored facilities that support SMEs as they look to reach their potential.”

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