Funder allocates £20m to support businesses in the region

White Oak has announced it will allocate £20m of lending to businesses across Yorkshire. The funding is one of White Oak’s regional allocations with the lender set to provide at least a further £275 million to businesses across the year.

The pot aims to help businesses across the region as they look for growth in the wake of the pandemic and is accessible via a number of products including business loans and asset finance solutions.

In addition to the regional funds the lender has also allocated funds per sector with over £60m ring-fenced for solicitors, £25m for the construction sector and more than £20m for the manufacturing sector.

This new pot follows the business granting £33.4m in CBILS lending to Yorkshire businesses.

Andy Davies, managing director 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 in Yorkshire as we look to help them thrive and push us towards economic recovery.”