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July 6, 2022

Hampshire Trust Bank relaunches HTB Syscap to offer short-term loans

Specialist lender Hampshire Trust Bank (HTB) has relaunched HTB Syscap, short-term loans provider, after buying Wesleyan Bank.

HTB Syscap allows professional firms and small and medium-sized businesses to borrow money for the short term to meet needs such as tax bills.

Initially, HTB Syscap will offer short-term working capital loans and asset financing.

Short-term working capital loans are designed for reoccurring annual expenses such as insurance premiums, Self-Assessment and Corporation Tax, VAT liabilities and practising certificates.

It is available for terms between three and 18 months.

Asset financing, which is available for terms between one and five years, can be used to fund purchases of various types of computer and telecom equipment, software, refurbishment, vehicles and plant and machinery.

HTB managing director Stuart Hulme said: “We are really excited about the relaunch of HTB Syscap, particularly at a time when small business groups are concerned that traditional lenders are pulling up the drawbridge for small firms.

“With this in mind, we are providing these two lending facilities so that professional firms and SMEs can gain a greater degree of control over their monthly outgoings by smoothing over the financial peaks and troughs throughout the year, enabling these hard-working small businesses to concentrate more of their time on the day-to-day.”

In February this year, HTB bought Wesleyan Bank for an undisclosed sum to scale its operations.

Before that, the lender made two senior hires to bolster its asset finance division.

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