White Oak hits £500m loan book milestone

White Oak has announced its loan book reached £500m for the first time since its inception in 1986.

This comes after the lender hit the £250m loan book mark at the end of last year.

Its total outstanding lending commitments show a strong year for White Oak, which passed £161m total lending to business earlier this year, including £130m from its own loan book in Q1.

Throughout the pandemic, White Oak supported 2,200 UK SMEs with loan totalling over £351m through CBILS, a record-breaking figure for the lender.

Out of the total money lent via the government support scheme, £56m were delivered to companies in the North-West, while SMEs in Midlands received £54m.

The milestones highlight White Oak’s commitment to support SMEs as they recover from the pandemic, and follows the announcement last month that it allocated £275m in lending to sectors and regions across the UK.

Andy Davies, managing director at White Oak Leases & Loans, said: “This £500m milestone demonstrates the support we’ve been able to provide to businesses up and down the country throughout this difficult year. 

“We are incredibly proud of our team who have been instrumental in achieving this result and look forward to continuing to support SMEs as we transition out of the pandemic.”

White Oak also recently announced its new headquarters based in Chester, expanding its national footprint across the UK. 

The lender is focused on deploying £200m per year in asset finance to help fund SMEs’ recovery across the country.

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