Asset & Invoice FinanceNews

Aldermore reaches £200m in block discounting

Aldermore has extended over £200m in block discounting facilities to its clients.

The bank launched its block discount offering in 2011 and provides facilities ranging from £1m upwards.

Hywel Prewett, business development manager of wholesale and structured asset finance at Aldermore, said: “Our block discounting business has achieved strong growth in recent years.

“We’re keen to continue developing our offering to specialist lenders, helping us to extend our reach to the UK’s SMEs.”

The block discount offering enables smaller UK finance companies to support small and medium sized enterprises (SMEs) with asset finance funding.

Lee Rhodes, commercial director at wholesale and structured asset finance at Aldermore, added: “We have made great strides in expanding the reach of our wholesale proposition over the past three years and block discounting has played an important part in this success.

“We are now looking to drive our next phase of growth and will be aiming to achieve this by increasing our customer base, supporting the wider Aldermore business and developing our product offering to enable us to continue to support the ambitions of the UK’s fast-growing SMEs.”

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