New specialist lender launches for small businesses

New specialist lender launches for small businesses



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A new specialist lender providing asset finance facilities for small and medium sized businesses has been launched. 

Created from the recent merger of Ruffler Bank and Base Commercial Mortgages, Aldermore is said to be shunning the “big is best” approach adopted by larger banks, in favour of a “specialists succeed” strategy adopted by successful companies in other market sectors.

 

Phillip Monks, Chief Executive of Aldermore, explains: “Small and medium sized enterprises have had enough of dealing with banks which do not understand either their markets or needs. Aldermore intends to address this issue head-on, by providing a service which is unashamedly specialist.

 

“We will only operate in markets where we have a real understanding of their requirements. We believe that if we can construct financial deals based on a detailed understanding of the needs of specific market sectors, then we can succeed in areas where bigger banks have failed to show any real interest.”

 

The business banking services offered by Aldermore will include commercial mortgages, asset finance and leasing facilities, which will be funded via retail deposits raised via a range of fixed rate bonds, notice accounts and ISAs.

 

Mr Monks said: “Being small and specialist has proven time and again to be a successful strategy for many thousands of British businesses and I believe banking is no different. It is time for banking to get back to its roots and that is what Aldermore is setting out to do.”

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