Aldermore hits £200m block discounting milestone
By Jordan WilliamsSpecialist bank Aldermore has announced that it has now extended over £200m in block discounting facilities to its clients
The bank launched its block discounting offering in 2011 and provided facilities ranging from £1m upwards to smaller UK finance companies.
These facilities allowed the finance companies to provide asset-finance funding to small- and medium-sized enterprises.
Lee Rhodes, commercial director, wholesale and structured asset finance at Aldermore, said: “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.”
Block discounting is part of Aldermore’s wholesale and structured asset-finance offering, which has seen new business originations triple over the past three years.
Lee added: “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.”
Keywords: Aldermore, block discounting, Specialist banking, SMEs, small and medium-sized enterprises, Wholesale and Structured Asset Finance, commercial finance, business lending,