Bank’s commercial finance arm surpasses £700m limits of funding facilities
The commercial finance arm of listed specialist bank Secure Trust Bank has has reported a strong first half with lending balances growing by 14.8% to £359.8m, with limits now in excess of £700m.
Recent deals for Birmingham-based Secure Trust Bank in the Midlands include a £43m funding package for Butcher’s Pet Care in partnership with Blazehill Capital, to allow the Northamptonshire-based pet food manufacturer to fund its next phase of growth.
The team also supported specialist precision engineer Nasmyth, which services the aerospace and defence sectors, with £20m of new long-term debt facilities, as part of its acquisition by private investor Rcapital.
David Parsons, regional managing director at Secure Trust Bank Commercial Finance, said: “We’re incredibly proud of the way we’ve been able to continue supporting clients, old and new, throughout what has undoubtedly been one of the most challenging times for businesses.
“Our lending balances have grown by nearly 15 per cent and that’s a testament to the hard work of our team, and the relationships they build with our clients and their management teams – not just at the point of the deal, but beyond so we can continue to be flexible with our facilities and the support we provide.
“We look forward to continuing these relationships and establishing new ones in the next half of the year.”