The Glasgow-based lender is backed by the commercial finance team at Bank of London and the Middle East PLC (BLME).

BLME will be Carrick’s key funder, which will allow the latter to help SMEs release capital tied up in assets or acquire business critical assets through a range of products and services, including hire purchase, finance lease and sale and lease back.

Fred Yue, head of corporate banking at BLME (pictured above, right), said the asset finance market was buoyant in the UK and there were opportunities for asset finance companies.

“With our funding, the experienced team at Carrick will be well placed to access these opportunities by providing customer-focused asset finance to customers directly and via brokers.

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“We look forward to working with the management team and believe they will provide a much-needed source of lending to the SME market.”

Carrick’s management team will include Gerard Moon (left) and Iain Corbett, who combined have worked in the leasing sector for over 50 years and at asset finance start-ups.

They will be supported by a leadership team with extensive asset finance expertise and knowledge of start-up operations.

“The relationship with BLME has been established for a number of years and we welcomed the opportunity to develop a partnership with them,” said Gerard.

“They have been proactive and helpful throughout the negotiations and we are pleased with their flexibility and the breadth of the BLME funding arrangement.

“Our priority now is to get out there and let our broker contacts hear about all that we have to offer.”

Iain added that its overarching objective was to be much more than “just another funder”.

“We will work with a small, targeted group of brokers, where we will invest time and effort to really understand their financing needs, building a strong partnership with them.

“Our team in Glasgow will work to a high level of service, providing a personalised approach to each and every customer and transaction.”