{"id":2028027,"date":"2019-04-01T08:23:08","date_gmt":"2019-04-01T07:23:08","guid":{"rendered":"http:\/\/www.thebusinessdesk.com\/westmidlands\/?p=2028027"},"modified":"2019-04-01T08:23:08","modified_gmt":"2019-04-01T07:23:08","slug":"alternative-funder-enjoys-strong-midlands-growth","status":"publish","type":"post","link":"https:\/\/www.thebusinessdesk.com\/westmidlands\/news\/2028027-alternative-funder-enjoys-strong-midlands-growth","title":{"rendered":"Alternative funder enjoys strong Midlands growth"},"content":{"rendered":"<p>Secure Trust Bank Commercial Finance has increased its lending balances by 54%, with a total of \u00a3194.7m invested in businesses across the country last year.<\/p>\n<p>The alternative finance provider hasfunded more than \u00a33bn of client invoices since its creation in 2014.<\/p>\n<p>Secure Trust Bank Commercial Finance is now the fifth largest independent operator in the invoice finance market.<\/p>\n<p>During the 12-month period, Secure Trust Bank Commercial Finance lent a total of \u00a370m to businesses in the Midlands. Notable transactions include Go Plant Fleet Services, which was backed by Secure Trust Bank with a \u00a313.5m facility and a \u00a35m asset based lending facility to Nottingham-based Kennelpak.<\/p>\n<p>David Parsons, regional managing director at Secure Trust Bank Commercial Finance, said: \u201cExpanding our geographical reach has played a significant part in the exceptional growth we\u2019ve 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.&#8221;<\/p>\n<p>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 \u00a334.7m in the last 12 months \u2013 an increase of 39 per cent on 2017 figures.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8216;Expanding reach&#8217; plays key role in jump in financial performance<\/p>\n","protected":false},"author":18,"featured_media":2028028,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"coauthors":[81],"class_list":["post-2028027","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest-news","tag-featured-story"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Alternative funder enjoys strong Midlands growth | TheBusinessDesk.com<\/title>\n<meta name=\"description\" content=\"&#039;Expanding reach&#039; plays key role in jump in financial performance\" \/>\n<meta name=\"robots\" content=\"index, follow, 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