Allica Bank’s asset finance offering will provide access to capital for SMEs purchasing the equipment they need to drive productivity and expand.
SFI sat down with Mark Catton of Propel to discuss the business, its partnership with Barclays, and current market trends in asset finance.
The luxury asset lender reported that more than 200 intermediaries have signed introducer agreements.
Luxury asset backed short-term lender Suros Capital recently launched its proposition to the intermediary market.
Many mortgage and finance brokers are claiming that the traditional lending process is becoming slower and more difficult to negotiate.
This marks a significant milestone for the loans and leases business with the lender distributing over £120m of loans to SMEs since its accreditation to the government’s CBILS in May.
The fully subscribed deal of £200m Class A notes priced at 110 bps above Sonia were privately marketed to investors and made public on 17 September.
White Oak provides business loans, equipment finance and asset-based lending solutions to SMEs and mid-corporate clients across the UK.
Genesis will use the facility to continue supporting businesses under CBILS, as well as continuing its own growth ambitions.
Brandon Hall has 25 years’ experience in asset finance and banking.