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.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
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."
