Secure Trust Bank (STB) Commercial Finance has opened a new office in Leeds as it continues its national expansion.
The 1,070 sq ft office – which is based at Minerva House on East Parade – will be headed up by John Gribbon, regional director at STB Commercial Finance.
John is joined by Victoria Conway, portfolio and structuring director, and Paul Goodchild, who was recently appointed as regional sales director for Yorkshire.
Paul joins the business from RBS Invoice Finance, where he spent six years writing large corporate asset-based lending transactions.
In his new role, he will be responsible for identifying opportunities and providing local SMEs with flexible finance facilities to support their growth and manage cash flow.
STB Commercial Finance has advanced £70m worth of loans in the Yorkshire and North East region in the last year, which includes a £2.3m facility for Twisted Automotive, a vehicle engineering firm which specialises in re-engineering new and used Land Rover Defenders.
STB Commercial Finance recently announced its interim results, which revealed that lending balances had doubled over the course of 12 months to £187.5m as of 30th June 2018, up on the £94.2m recorded the previous year.
During that period, it funded more than £1bn in customer invoices.
“We have completed some excellent deals in Yorkshire recently, and we’ve seen a surge in enquiries on the back of this,” said John.
“Naturally, the next step for us was to establish an office that will allow us to maintain close contact with businesses in the region and provide a base so we can bolster our sales team.
“Paul has recently joined us, and we expect to increase headcount further later in the year.
“With established offices in the North West, Midlands and now Yorkshire, we are now in a strong position for even further expansion.”
SIGN UP TO OUR NEWSLETTER TO RECEIVE MORE NEWS LIKE THIS STORY
Customers pay nearly £500 more than the advertised personal loan rate
Customers paying for an £8,000 personal loan over four years have paid on average £453 (2.61%) more than the advertised rate, according to the latest research...
Leek United appoints new Ashbourne branch manager
Leek United has appointed Abigail Bowden (pictured above) as the new manager of its Ashbourne branch in Derbyshire...
UTB enters specialist remortgage market
United Trust Bank (UTB) has launched a new residential remortgage product range...
FCA fines Bank of Scotland £45.5m for failing to report fraud suspicions at HBOS Reading
Bank of Scotland (BOS) has been fined £45.5m by the FCA for failing to disclose information about its suspicions of fraud...
N26 introduces MoneyBeam to UK users
N26 has introduced MoneyBeam to its UK users which will enable them to instantly send money to other users of the mobile bank...
NatWest names new CEO for Mettle
NatWest has named Marieke Flament (pictured above) as the CEO of its SME digital banking subsidiary Mettle...
CYBG to rebrand as Virgin Money and launch a new business current account
CYBG has revealed that it will rebrand to Virgin Money over the next two years with new Virgin Money-branded products...
New bank Chetwood Financial reveals long-term ambitions
Chetwood Financial is aiming to use technology to offer better deals to customers, having secured a banking licence late last year...
The opportunity for accountants to help businesses
In light of bank and building society branch closures, a new report published by Oxford Economics in partnership with Funding Circle has revealed that in the UK — despite the vast economic output generated by SMEs — small business lending accounts for only 2% of banks’ balance sheets...
Paragon Bank’s structured lending team passes £100m milestone
Paragon Bank’s structured lending team has passed its £100m milestone 18 months after launching...
Hanley Economic expands intermediary support team
Hanley Economic Building Society has appointed Kate McKeon (pictured above) as an intermediary sales assistant...