outstandings
State Securities, the UK asset based lender specializing in the
subprime market, reports reaching £150m in outstandings.
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The company, part of the Five Arrows Group, described it as a
“milestone” in its development since its establishment in 1980, and
represents considerable growth since three years ago when its book
size totalled £100m.
Andrew Bullard, State’s sales director, said: “The majority of
business generated comes via State Securities’ network of finance
brokers based around the country with whom we have built up
excellent open and honest relationships.
“Unlike some other financiers, we can boast a ‘one-stop-shop’
approach to finance supported by our own in-house services,
including legal and asset valuation teams. This enables us to put
together smooth transactions with swift turnaround times.”
State’s pre tax profits at year end 2006 totalled £5.6m. Its head
office is in Southampton and it has regional offices in Birmingham,
Glasgow, Leeds and Preston.
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