Facility deal boosts SME lender’s financial firepower
One Stop Business Finance, a lender which offers solution-led and responsible funding options to SMEs, has continued its partnership with Shawbrook bank.
An increased facility of £15m provided by Shawbrook will allow One Stop Business Finance to keep delivering flexible funding to its clients and grow its loan book, helping in delivering services to an increased number of small businesses, UK-wide.
Established in 2014 in York, One Stop Business Finance offers funding options to SMEs, ranging from working capital solutions to invoice finance and development lending.
Shawbrook and One Stop Business Finance’s relationship first began in 2019, when Shawbrook provided a £3m facility funding One Stop’s bridging and development finance book.
This has since increased in line with business needs and growth, most recently having grown from £10m to £15m in June 2023.
Shawbrook is now the firm’s largest funding partner.
With this new funding injection, One Stop Business Finance says it will be able to expand its remit further, supporting more SMEs with their funding needs.
Andrew Mackenzie, group managing director at One Stop Business Finance, said: “I am pleased that we have been able to further build on the relationship that we began with Shawbrook in 2019.
“This additional funding line continues to sit well alongside our private money and ensures we have sufficient cash availability to deliver our plan to become a nationwide lender.”
“As conditions remain precarious across the country, it is important that we continue to strive in delivering our friendly flexible funding solutions to fund business growth for those who may struggle to access cash through the traditional routes.”
Luke Randell, associate director of structured finance at Shawbrook, added: “One Stop Business Finance offer much needed support to the UK’s SMEs, and we’re pleased to be assisting them with their next stage of growth.
“The senior team’s professionalism and strategic management skills have been particularly impressive throughout our relationship with them, and we’re excited to see where they take the business next.
“Indeed, their management experience, overall track record, and security structure are all key to this continued partnership.”
Fieldfisher acted for Shawbrook during the deal. Gosschalks acted for One Stop Business Finance.
