UK-based consumer and asset lender Raphaels Bank has joined the asset finance division of the Finance & Leasing Association (FLA).

Through a network of commercial finance brokers, Raphaels Bank provides finance for hard assets including cars, commercial vehicles, plant and machinery.

The announcement, followed the appointment of Ashley Davies as business development manager for Raphaels’ asset finance division.

Carl Virgo, head of lending at Raphaels Bank said: "Membership of the asset finance division shows our brokers and their customers that we recognise the continued efforts of the FLA in both its strong representation of the industry sector and its contribution in driving forward the market. The asset finance sector is gaining momentum, particularly in schemes aimed at improving the availability of credit for SMEs. Asset finance division membership will help ensure Raphaels Bank is a key operator in pushing this sector forward."

Last month, the company rebranded its motor finance arm Southern Finance to Raphaels Finance.

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By GlobalData