UTB launches asset finance arm to wider broker market

Stance Asset Finance, the asset finance branch of United Trust Bank has officially launched to the wider broker market.

The firm aims to provide asset finance funding solutions to SMEs with “imperfect credit”.

The firm began accepting business earlier this year through a selected group of Founders Club brokers.

Stance is offering hire purchase, leasing and refinancing solutions across various assets for those that fall out of “mainstream credit criteria”.

Brokers registered to UTB are able to access Stance via existing UTB trading agreements after an onboarding call with a Stance BDM to discuss alignment of credit appetite with proposals.

Astrid Michael, sales and marketing director of asset finance at UTB said: “What's particularly encouraging is that we're launching into a market where demand for asset finance remains strong, but brokers tell us that finding the right home for more challenging cases is becoming more difficult.

“As lenders consolidate or change their appetites, brokers need more options, not fewer.

"Stance gives them a genuine alternative. We have the financial strength and competitive funding you'd expect from a bank, but with dedicated underwriters who understand that a business isn't necessarily a bad credit just because its circumstances are more unusual.”