Independent finance company reports record June and July

A Yorkshire based independent business finance company has reported a record four weeks during June and July, with loan deals agreed worth in excess of £2.8m.

One Stop Business Finance, based near York, supports the SME funding market by being able to provide solutions from its own funding capability, backed by private lenders. The company said it was experiencing strong growth as it provided a funding source for SMEs increasingly finding it difficult to secure finance from the mainstream banks.

During June and July, One Stop Business Finance agreed SME funding deals across the UK, including for clients in Leeds, Grimsby, Gloucester, Selby, Chesterfield, Newark, Birmingham, Scarborough and Halifax, totalling almost £3m. These businesses are spread across many market sectors, from private housebuilding and property refurbishment to food processing, a bakery and a chocolate retailer.

Andrew Mackenzie, Managing Director at One Stop Business Finance said: “June was a record month for our lending team, with £1.2m worth of deals agreed, surpassing our previous peak and loans valued at £1.6m were provided to SMEs in July. This latest cluster of transactions from our own funds means that we have more than doubled our turnover for the third consecutive year, and trebled our loan book over the same twelve month period.

“The resultant continued profitable growth will allow us to make a number of additional business development appointments before the end of the calendar year. As we approach four years of lending on our own book, we proudly maintain an exemplary non-enforcement record.

“We are already planning ahead for a significant increase in demand for our services as we seek to support more businesses over the next twelve months. We will be reviewing our funding mix, which may involve the business taking on bank or institutional finance, alongside our existing funding, as we continue to grow.”

 

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