Independent business lender White Oak, has announced it has completed a securitisation facility from Barclays Bank, with the funds set to be deployed to SMEs across the UK via asset finance solutions.
White Oak is committed to supporting the UK’s economic recovery and will use this facility to enable SMEs and mid-size corporates to invest in their business and drive productivity and growth.
This comes as the UK Government implements several measures to encourage businesses to invest, including the super deduction which allows businesses to cut their tax bill by up to 25p for every £1 they invest.
With a balance sheet of c. £500 million, White Oak is one of the largest non-bank SME lenders in the UK. The firm has been instrumental in supporting a range of SMEs and mid-sized corporates during the pandemic via the CBILS scheme as well as its existing lease and loans products.
Building on an established track record in the UK since 1986, White Oak is now set to deploy significant capital into asset finance over the coming years while continuing to grow its loans business. White Oak will deploy support across a range of sectors including agriculture, manufacturing, and construction with its team of consultants having a wealth of experience from across these sectors.
Read the full article at: White Oak grows asset finance business with £150 million facility – Scottish Financial News