Secure Trust Bank Commercial Finance has now provided more than £60m of facilities to the North West’s SME community, demonstrating the increased demand from businesses for alternative forms of funding.
Since launching in November 2014, Secure Trust Bank’s asset based lending arm has worked with 35 of the North West region’s SMEs, providing £64m of limits.
This includes providing Preston-based Independent Inspections Group, the provider of assessment and restoration services, with a £1.75m funding line. The group, which houses three distinct brands with a turnover of more than £45m, used the funding to assist in a private equity transaction, as well as providing working capital to drive further growth.
Secure Trust Bank has also provided tailored facilities to Manchester-based asbestos and environmental compliance services provider Winsulate, as well as Ventilation Surveys and Services, headquartered in Liverpool.
Nationally, the funder has now advanced asset based lending facilities in excess of £150m to SMEs, supporting both organic and acquisitive growth strategies. This includes working alongside private equity houses to complete management buyouts, as well as enabling businesses to expand their reach and production both in the UK and overseas.