Bank sets aside £100m for commercial product launch
By Tom BelgerSecure Trust Bank is continuing to support UK SMEs by allocating £100m to its Commercial Owner Occupier Mortgages product…
Secure Trust Bank is continuing to support UK SMEs by allocating £100m to its Commercial Owner Occupier Mortgages product...
The product will help business owners purchase or re-mortgage commercial properties and adds to STB’s asset finance division by extending the firm’s range of asset-based lending solutions.
The challenger bank has set aside £50m for its Rent to Own Fund which will allow trading businesses to use a COOM to buy their own premises, and £50m for the Refinance for Growth Fund which will help businesses refinance assets they already own.
Paul Marston, Managing Director at STB’s Business & Commercial arm, said he was pleased to be launching the product which he felt would have a significant impact for the clients and introducers they worked with.
“Owning your own trading premises, as opposed to renting, is hugely attractive and it acts as a sound investment.
“The benefits can include having a much stronger balance sheet over time,” said Paul.
“With our extended offering, we can now look to refinance existing premises and other physical assets, such as plant equipment and commercial vehicles.
“This can be used to help improve a business’ cashflow as it expands.”
Keywords: Secure Trust Bank, Residential Development, Government, Planning, Finance, Results, Loans, Commercial, Property