Investec Asset Finance block discounting division has passed the £100m (125m) milestone in lending to UK based SME finance companies.
Investec said its block discounting business had been lending for 20 months with its aggregate block discounting facilities at £150m and facility limits averaging £3m.
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The bank said draw down from block discounting facilities provides UK finance companies with an estimated £300m-£400m of funding a year for onward lending to UK SMEs.
Mike Francis, Investec head of asset finance, said; "Block discounting is an important part of the wider Investec strategy to create a broad loan portfolio that takes advantage of opportunities in the market while meeting the funding needs of SMEs and our network of finance brokers."
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