Metro Bank, has launched a professional services offering, to provide short term funding for the sector.
The new offering includes asset finance, professional indemnity insurance (PII) funding, IT finance, and tax funding, and will initially be available to solicitors and accountants, before being extended to other professions.
Richard Saulet, director of Metro Bank Invoice and Asset Finance said: "Those within the professional services frequently face having to invest significant sums of money to enable them just to practice, let alone grow. We hope that our new funding line will relieve some of this burden, directly benefitting our customers."
The announcement followed Metro Bank’s successful completion of a £400m capital raise, together with its listing on the Main Market of the London Stock Exchange in March this year.