Asset-based lender reaches £2bn milestone
Manchester-based Secure Trust Bank Commercial Finance has passed another significant milestone, having funded more than £2bn-worth of client invoices since its inception in 2014.
Having hit the £1bn figures in May last year Secure Trust Bank Commercial Finance has enjoyed a period of considerable growth to double this figure in 12 months.
This success is reinforced by its annual financial results, which revealed that customer lending balances had also doubled for the second consecutive year to £126.5m. This places them in the top 10 independent providers of alternative finance in the UK.
This strong performance has enabled Secure Trust Bank to expand its offering across the UK regions.
They have opened a new office in Birmingham, headed by regional managing director David Parsons, and are shortly opening a new office in Leeds under the regional managing director John Gribbon.
Both will have dedicated business development and relationship management operations in each of these premises.
The asset-based lender has been particularly active in recent months, having provided £15m to high-street fashion chain Jigsaw.
More recently, Secure Trust Bank Commercial Finance provided a £35m facility to Meridian Metal Trading, one of the largest fully independent steel stockholders and processors in the UK.
John Bevan, managing director at Secure Trust Bank Commercial Finance, said: “Having hit the £1bn milestone last year, to double this figure in only 12 months is a fantastic achievement.
“We have firmly established ourselves as one of the leading providers of alternative finance in the UK market, and the team has been pivotal to this exceptional performance.”
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