Wesleyan Bank marks £500m of commercial lending

WESLEYAN Bank has announced a milestone after it broke through the £500m commercial lending barrier four years after it started offering loans to law firms.

The specialist bank, part of the Birmingham-based financial services company Wesleyan Group, has also lent an additional £180m in personal loans.

Wesleyan Bank was founded 21 years ago and began offering commercial loans in 2010 when it acquired Key Business Finance. During the past 12 months the bank has moved into new commercial sectors, particularly the GP and dental markets.

Wesleyan Bank managing director Steve Deutsch said: “Wesleyan prides itself on being a specialist for specialists and we make a point of getting to know our customers personally and gaining real insight into their professions.

“Our lending to law firms has always been strong, especially for short-term finance needs, but in our 21st year we have increased our lending to GP and dental practices, providing them with funds for needs such as practice acquisition, new equipment and refurbishment to help them grow in increasingly competitive markets.”

Wesleyan Bank has also started using intermediaries to help bring in new business.