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Specialist bank on track to lend £15m to Midlands SMEs

Tom Belger | 13:14 Tuesday 3rd October 2017

Secure Trust Bank Commercial Finance is closing in on a milestone of £15m of funds lent to Midlands-based SMEs.

Since its launch in November 2014, the specialist bank has provided £9.3m to businesses in the West Midlands and £4.7m to those in the East Midlands.

Nationally, Secure Trust Bank has advanced business loans in excess of £150m to SMEs, supporting both organic and acquisitive growth strategies.

Recent deals in the Midlands included a seven-figure facility provided to Northampton-based XP Recruitment as well as finance packages for companies including Birmingham-based Electrical Distributors.

David Parsons, strategic development director at Secure Trust Bank Commercial Finance (pictured above), said the Midlands was a hotbed for entrepreneurial thinking, with Birmingham the leading UK city for start-up creation outside London.

“In order to ensure that these businesses become reality, SMEs need to find a funding provider that understands their needs, as well as offering the flexibility that recognises the potential for growth.

“This is the attitude that we have applied to all of our facilities, building strong relationships with management teams and the business advisory community across the region to boost growth.

“We look forward to working with more ambitious management teams across the Midlands in the future.”

The bank recently revealed that it had provided over £60m to North West SMEs.

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