STB

STB Commercial Finance sees lending balances grow to £313m




Secure Trust Bank (STB) Commercial Finance has seen a 35.8% increase in lending balances, reaching £313.3m in 2021.

Revenues at the firm have also seen a 14.5% rise to £17.4m in the calendar year (2020: £15.2m), while clients’ undrawn availability ran at historically high levels for the bank.

According to STB Commercial Finance, the performance was driven by healthy levels of new business and lower levels of client attrition, as it provided additional support to SMEs in the aftermath of the pandemic.

Notable deals completed by the firm in the first half of the year include a £16m invoice discounting facility for dash cam manufacturer Nextbase, and a £21m asset-based lending facility to support the growth of fresh fruit company Orchard House Foods. 

The company also delivered a £17m boost to furniture retailer Moda Furnishing and a £10m funding deal for international exporter and manufacturer Denby Pottery.

John Bevan, managing director at STB Commercial Finance (pictured above), said: “It’s been a positive year of recovery for SMEs across the UK, with access to finance a vital tool as many sought to adjust to new market forces. 

“Throughout this period of adjustment, our focus has been on supporting our clients with flexible funding packages that are tailored to their needs and conducive to success — taking the time to thoroughly understand a business and its unique challenges has been vital. 

“The growth in our lending balances and revenues is testament to the strong partnerships we’ve developed this year, as we look to deliver the best outcomes for the businesses we work with.”

 

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