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June 28, 2019

Wesleyan Bank signs £15m asset finance deal with DND Finance

Wesleyan Bank, a specialist provider of commercial finance solutions and part of Wesleyan Group, and DND Finance have extended an existing wholesale finance facility to include asset finance.

By Brian Cantwell

Wesleyan Bank, a specialist provider of commercial finance solutions and part of Wesleyan Group, and DND Finance have extended an existing wholesale finance facility to include asset finance.

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The additional £15m asset finance facility is in addition to the £20m wholesale finance facility that was agreed in August 2018.

DND Finance is a 19-year-old Canadian-founded operation and a niche funder to professions and small business in the UK. The company has been established in the UK for ten years providing finance across the business loan, vehicle, equipment finance and leasing markets. DND has also recently expanded into the Charge Card market, offering a Visa solution to both Corporates and Individuals.

The facility, expands on the already operating Professions Loan facility agreed between DND Finance and Wesleyan Bank last year.

Bill Dost, group chief executive of DND Finance, said: “I believe this speaks to Wesleyan Banks’ confidence in us and our ability to serve the SME marketplace. It will also now allow us to provide some fantastic Asset Finance Solutions to the same marketplace.”

Wesleyan Bank has over 25 years’ experience in the equipment finance and professional loans market. Entering the wholesale finance market is part of a series of “strategic initiatives to support the Bank’s ambitious growth plans”, commented Sean Read, director of operations at Wesleyan Bank.

In December 2018 D&D Leasing announced it would set aside monthly income from its lease contracts and originations to contribute to a humanitarian charity. Humanitarian organisation WE supports teachers in schools in the UK and North America and targets poverty in villages across developing communities in Asia, Africa, and Latin America.

In October 2018 Leasing Life caught up with Bill Dost to find out more about the Canadian lessor’s plans for expansion – both in Europe and closer to home – following its latest wholesale funding deal with Wesleyan Bank.

In August, the business had obtained a £20m (€22.5m) wholesale funding facility from Wesleyan Bank – the newly rebranded Syscap – gearing up for business among UK SMEs.

Free Report
img

2022: So far In Venture Capital

Global investment in 2022 has been majorly dominated by North America, Europe, and Asia Pacific, whereas the Middle East, and South and Central America have recorded low investments comparatively. In light of this, Europe and North America have been identified as the major destinations for Private Equity and Venture Capital (PE/VC) investments.   GlobalData’s whitepaper analyzes which sectors PE/VC firms have been investing in, looking at Technology, Media, and Telecom, with these sectors recording $356 billion and a deal volume of over 10,000 deals in 2022. Healthcare, Financial Services, Business & Consumer Services, and Construction sectors have also seen high investment activity by PE/VC firms, recording a deal value of over $70 billion each.   But what can this mean for you?   Understand how the Deals Database on GlobalData Explorer can be leveraged to:  
  • Track the Aggregate Investment Volumes in PE/VC-Stage firms across geographies and sectors, in addition to viewing the specific deals that drove these volumes
  • Identify the top investors already active in any sector-Geography combinations
  • Assess the Performance of Financial and Legal Advisors, supporting the Dealmaking in any segment of choice (Customizable League tables)
  • Understand what is driving the PE/VC fundraising (Deal Rationale)
  Consult our full report here and optimize your business strategy.
by GlobalData
Enter your details here to receive your free Report.

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