Metro Bank has collaborated with SME funder LDF to provide £30m of funding over the next 18 months to the professional services sector.
The announcement follows the launch of Metro Bank’s new SME lending offering, which also includes Professional Indemnity Insurance funding, tax finance, IT finance and asset finance.
The challenger bank also reported a 110% year-on-year increase in lending and 74% year-on-year increase in deposits in Q2.
Nathan Mollett, head of asset finance at Metro Bank, said: “The professional services are an integral sector in the UK economy and we’re delighted to be able to support it with an additional dedicated line of funding.
“We understand how demanding the sector can be and hope that by working closely with LDF we can enable more businesses to prosper.”
Andy Davies, LDF director of sales, said: “This exclusive partnership with Metro Bank enables us to develop our presence with the legal top 50 through their platform of innovative business finance solutions, enabling us to offer more to our clients, and we look forward to developing the relationship.”
Last month, the bank announced they were reducing its rates on five-year fixed rate residential and buy-to-let mortgages.
Leave a comment