Secure Trust Bank Commercial Finance has provided facilities of £750,000 (1,040,000) to Faith Furniture, a business that supplies kitchen furniture to retail trade across the UK.
According to Faith furniture, the funding line will be used to increase its stock, as it looks to branch out into both the bedroom and bathroom markets. In addition, it will boost the company’s cashflow.
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Dave Green, regional sales director at Secure Trust Bank Commercial Finance, said: "Faith Furniture is another great example of a British manufacturing business in a highly profitable market that, with its specific needs, would struggle to access traditional bank lending. As such, we are pleased to provide this funding line, aiding the business to keep ahead of the game in terms of funding stock and maximising its growth potential."
The UK Challenger bank’s commercial arm, Secure Trust Commercial Finance, was launched in September last year. It has recently backed the management buyout of a UK heating and plumbing company as well as an acquisition of a signs manufacturer.
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