Secure Trust Bank surpasses £200m of lending facilities in the Midlands

Added by Love Business East Midlands | 21 July 2022

UPDATED: 21 July 2022

Secure Trust Bank’s Commercial Finance team in the Midlands has delivered more than £200m in lending facilities since it opened its regional office four years ago. It has since delivered finance to over 20 of the region’s businesses.

Over the last year, facilities provided by the bank have included a £10m combined facility to 200-year-old ceramics manufacturer Denby Pottery, and a £20m structured working capital facility to specialist precision engineer Nasmyth, which services the aerospace and defence sectors. Most recently, the team supported burgeoning e-scooter specialist, Pure Electric, with a bespoke £10m inventory finance facility to support the businesses growth following its success in recent years.

Led by David Parsons, Regional Managing Director for the Midlands, the Commercial Finance arm of the bank first opened its Birmingham office in 2018.

Since then, it has gone on to develop its offering significantly, welcoming several new team members, such as Head of Portfolio, Mike Piggott, Portfolio and Structuring Director, Colin Muir and Regional Business Development directors, Matt Broomfield and Debbie Partridge, who are delivering greater levels of finance to regional businesses.

Clients include Birmingham-based litigation investigation company, Henderson & Jones, Leicestershire-headquartered specialist commercial vehicle provider, Go Plant, and Nottinghamshire pet retailer, Kennelpak Ltd.

Secure Trust Bank provides asset-based lending to businesses across the UK and has successfully funded more than £6bn of receivables since its launch to the market in 2014.

David Parsons, Regional Managing Director of the Midlands at Secure Trust Bank Commercial Finance, said:

“The Midlands is known for being a historic and innovative hub where businesses grow and succeed. When we opened our Birmingham office in 2018, there was a great opportunity and now, just four years later, we are working on facilities in excess of £200m.

“The team has worked hard from a standing start to becoming one of the largest independent players in the ABL market. We have built a reputation for being flexible, creative, and delivering on our commitments. We are proud to have supported the region’s most innovative businesses and look forward to continuing to do so for years to come.”

Lucky Sarai, Consultant at Lyte Ladders & Towers Ltd, said:

“Our experience with Secure Trust Bank Commercial Finance has been fantastic. Its team really took the time to understand our business and way of doing things, helping us to overcome any challenges through a bespoke approach. The team is both personal and professional, highly flexible and has always been easy to work with.”

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