Business lender allocates over £35m to region’s businesses

Business lender White Oak will allocate £35m to businesses across the Midlands.

The funding is one of White Oak’s regional allocations with the lender set to provide at least a further £275m to businesses across the year.

The £35m pot is aimed at helping businesses in the Midlands as they look for growth.

The funding is accessible via a number of products offered by White Oak including business loans and asset finance solutions.

White Oak has also allocated funds per sector with over £60m ring-fenced for solicitors, the business’ most active sector. The construction industry has been allocated over £25m with more than £20m going to the manufacturing sector. The accountancy sector has been allocated over £15m in support.

Andy Davies, managing firector of White Oak Leases & Loans, said: “We are very proud of the role we’ve played in supporting businesses across the UK through what has been the most challenging period in modern times. As we look towards a brighter future, it is important that businesses continue to receive the support they need. This funding allocation underlines our commitment to businesses across the Midlands as we look to help them thrive and push us towards economic recovery.”