Secure Trust Bank Commercial Finance has funded £1bn worth of customers in the last year, bringing the total to £4bn since its launch in 2014.
The commercial finance arm of the FTSE listed bank provides a full suite of asset based lending facilities to businesses across the UK ranging from £1m to £50m.
It provides funding for a range of scenarios, including management buy-ins, restructurings and turnarounds as well and service-led refinances.
The firm has achieved an average of 85% year-on-year growth since its establishment in Manchester five yeas ago.
John Bevan, managing director at Secure Trust Bank Commercial Finance, said: “The Commercial Finance business has completely transformed since our inception. When we started out, our maximum loan size was £15m, which has since risen to £50m, demonstrating our size and scale in the market. Not only this, but an average 85 per cent year-on-year growth is indicative of our strong proposition and credibility as one of the UK’s leading invoice finance providers.
“Our expansion into Yorkshire and the Midlands has also been a driving factor behind our growth. Having a base in each of the UK regions has enabled us to offer a better service to the businesses we work with which, coupled with our flexible approach to lending, has led to huge increases in facilities we fund. We’re confident this growth will continue into the future as we expect to see a record year in Commercial Finance,” he added.
Headcount has also increased from six to 30. The lender expanded its presence across the UK last year, opening offices in Yorkshire, London and the Midlands. This enabled the firm to offer a more personal service to its clients in the UK.
Secure Trust Bank revealed Commercial Finance had provided £220.7m worth of funding to UK businesses up to June 30, 2019. This was an increase of £33.2m in comparison to the same period last year.