Secure Trust Bank, a UK-based challenger bank, has launched its new commercial finance business Secure Trust Bank Commercial Finance for small and medium enterprises (SMEs) in the UK, according to a statement.
Secure Trust Bank Commercial Finance will be headed by John Bevan, who has 19 years’ experience within the invoice finance industry at Royal Bank of Scotland and as head of trade and working capital UK and Ireland at Barclays.
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The asset finance head office of the bank will be based in Manchester, with sales teams in Birmingham, Leeds, Bristol, the south coast and London.
Secure Trust Bank is headquartered in Solihull and incorporated in 1954; the bank said its core business is the provision of banking services, including a range of lending solutions and savings products. AIM listed, it has been a subsidiary of the Arbuthnot Banking Group since 1985.
John Bevan, head of Secure Trust Bank Commercial Finance, said: "We launch in an environment of huge opportunity – traditional debt finance remains difficult to obtain for many businesses, and may not be the right fit. Companies are more aware of alternative forms of finance than they were several years ago, and have to some extent accepted the fact that the UK’s historic reliance on traditional funding cannot continue.
"We look forward to working with SMEs to help them understand the benefits of asset-based Lending in financing the growth of their business, and providing an outstanding service."
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