Of the total sum of new facilities delivered, £20m related to CBILS and CLBILS support to existing PE-backed clients.
Notable transactions include a £7m asset-based lending facility for Moda Furnishings, required to increase inventory and support cashflow to allow the business to meet demand from its online shop and continue to expand.
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The bank also completed a £5m working capital facility — that was approved in one week — to support Rcapital’s December acquisition of local newspaper publisher Archant.
John Bevan, managing director at Secure Trust Bank (pictured above), said: “We have strong, long-standing relationships with many of the PE houses we have supported last year, and we’re always happy to work flexibly and move quickly to support them in the acquisition of new businesses and provide funding that allow companies within their portfolio to continue on their growth trajectories.
“Towards the end of 2020, the sector saw more PE businesses looking for well-managed, robust companies looking to grow, and we look forward to supporting many more of these and their PE backers in the coming year.”
The commercial finance arm of Secure Trust Bank has a range of asset-based lending options including invoice and inventory finance and working capital.
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