Alternative funder enjoys strong Midlands growth
Secure Trust Bank Commercial Finance has increased its lending balances by 54%, with a total of £194.7m invested in businesses across the country last year.
The alternative finance provider hasfunded more than £3bn of client invoices since its creation in 2014.
Secure Trust Bank Commercial Finance is now the fifth largest independent operator in the invoice finance market.
During the 12-month period, Secure Trust Bank Commercial Finance lent a total of £70m to businesses in the Midlands. Notable transactions include Go Plant Fleet Services, which was backed by Secure Trust Bank with a £13.5m facility and a £5m asset based lending facility to Nottingham-based Kennelpak.
David Parsons, regional managing director at Secure Trust Bank Commercial Finance, said: “Expanding our geographical reach has played a significant part in the exceptional growth we’ve achieved over the course of the year. It has enabled us to make connections with businesses and intermediaries in the local area, and the effort put into building our national footprint has certainly bore fruit.”
Listed on the London Stock Exchange since 2011 and added to the main market in 2016, the wider Secure Trust Bank Group has also seen strong growth. Pre-tax profits rose to £34.7m in the last 12 months – an increase of 39 per cent on 2017 figures.
