John Bevan

Secure Trust Bank's commercial lending surpasses £250m in 2019

Secure Trust Bank Commercial Finance’s lending balances increased by 33% to £259m in 2019.

This figure was up from £194.7m the previous year.

The commercial arm of the FTSE listed bank, provides asset-based lending and invoice finance products.

These range in size from £1m to £50m, for both SMEs and larger businesses.

The lender completed several large deals in 2019, including a £60m combined facility alongside RBS for Converse Pharma Group, a national pharmaceutical wholesaler.

The bank also provided a £12m structured facility to Expert Tooling, a prime solution provider for bespoke tooling and automation systems. 

John Bevan, managing director at Secure Trust Bank Commercial Finance (pictured above), said: “These figures reflect a strong performance across the commercial finance business last year. 

“Our continued expansion places us closer to our clients and to our introducers to support the opportunities this presents.

“During the current economic climate, we have been focussing hard on supporting our existing client base.

“We are also now an accredited lender through the British Business Bank for the Coronavirus Business Interruption Loan Scheme (CBILS) and Coronavirus Large Business Interruption Scheme (CLBILS) and are in an excellent position to support UK businesses by providing flexible facilities to meet their needs in the current business environment.”

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