Bank celebrates as Leeds team tops £125m in new lending

Since opening its doors in late 2018, the Leeds-based team has provided more than £100m in asset-based lending to companies across sectors including automotive, pharmaceutical, food and drink, and manufacturing, and has offered an additional £21m in CBILS support since March 2020.

Clients include Thirsk-based Twisted Automotive, a specialist in re-engineering Land Rover Defenders favoured by celebrity petrolheads including Jamie Oliver, which received a bespoke finance facility.

Support was also provided to The Lakes Distillery, an award-winning Cumbrian whisky-maker with an artistic ethos, which received a full asset-based lending facility to help triple annual production.

Secure Trust Bank most recently supported Scunthorpe-based British Steel with a significant bilateral receivables facility to support the expansion of the leading European steel manufacturer as it looks to expand production and sales over the coming months.

The Commercial Finance division of the bank was one of the first alternative lenders accredited for the larger CLBILS loan scheme by the British Business Bank and also offers the smaller CBILS facility.

John Gribbon, regional managing director at Secure Trust Bank Commercial Finance, said: “We opened our Leeds office in 2018 because we knew of the outstanding entrepreneurial spirit in the Yorkshire and North East regions, and wanted to provide support to enable growth.

“In each deal we’ve completed, we’ve worked closely with our clients to gain an in-depth understanding of their business and used our experience and insight to ensure we’re carving out deals that are designed to meet their needs.

“The past two years have given us an opportunity to get closer to many interesting and innovative businesses across both Yorkshire and the North East, and better understand the markets within which they operate.

“We’ve worked hard to establish our own name and engage with our network of trusted and influential friends across the professional community, and with their help, we’re very proud to have reached this significant milestone and look forward to continued combined success.”