Secure Trust ignores Solihull to base new CF arm in Manchester

SOLIHULL-based Secure Trust Bank has turned its back on its home town and chosen Manchester as the base for its new commercial finance arm, Secure Trust Bank Commercial Finance.

The aim of the new business, which is being headed by John Bevan, is to provide SMEs with a full range of Asset Based Lending products. It is targeting rapid growth over the coming months.

Bevan has 19 years experience within the invoice finance industry, with previous positions at Royal Bank of Scotland and head of trade and working capital UK and Ireland at Barclays.

Although the operation’s head office will be based in Manchester, it will have sales teams in Birmingham, Leeds, Bristol, the south coast and London.

 The challenger bank said the launch of the CF operation was an illustration of the growth potential within the sector, which it claimed had been hugely successful in providing an alternative to the dominant UK banks.

The parent group has seen impressive growth during the past few years. The bank’s H1 2014 results showed strong trading, with a 48% increase on the same period last year.

David Parsons, regional director for the Midlands at Secure Trust Bank Commercial Finance, said: “We are delighted to announce the launch of Secure Trust Bank Commercial Finance. Backed by one of the UK’s leading challenger banks, the business provides SMEs with a unique offering, providing all the benefits of fast, independent, local decision-making along with the backing of a major financial institution.

“The business has launched with an incredibly strong team, and I am confident that we will see enormous success in demonstrating our differentiated offering, providing businesses with the funding they need to secure their growth ambitions.”

He said the launch was taking place in an environment of huge opportunity as traditional debt finance remained difficult to obtain for many businesses.

“Companies are more aware of alternative forms of finance than they were several years ago, and have to some extent accepted the fact that the UK’s historic reliance on traditional funding cannot continue. We look forward to working with SMEs to help them understand the benefits of Asset Based Lending in financing the growth of their business, and providing an outstanding service,” he added.

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