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Secure Trust Bank Commercial Finance passes £50m in CBILS and CLBILS lending

Secure Trust Bank’s Commercial Finance division has provided more than £50m in funding to support businesses across the country as part of the Coronavirus Business Interruption Loan Schemes (CBILS and CLBILS).

The bank was one of the first alternative lenders accredited for the larger CLBILS loan scheme, and also offers the smaller CBILS facility. Since being accredited for both schemes, Secure Trust Bank has been working closely with companies across numerous sectors to provide additional financial support, ensuring they can maintain relationships with suppliers and plan for recovery and long-term growth during this period of uncertainty.

Secure Trust Bank has supported a number of existing clients with CBILS and CLBILS facilities, providing £14m to businesses based in the Yorkshire and the North East. Businesses supported include Marble Building Products Ltd and Cavalier Marketing Ltd, both of which operate in the kitchen, bedroom and bathroom sector and are owned by investment company HLD Group.

The kitchen work surface specialist and bathroom and shower specialist each received support from Secure Trust Bank to provide working capital so they could maximise new business opportunities during the lockdown.

The Commercial Finance division of the FTSE-listed bank provides a full-suite of flexible asset-based lending and invoice finance products, ranging in size from £2m to £50m, for both SME’s and larger businesses.

Originally established in 2014, the lender now operates across the country with offices in Leeds, Birmingham, London and Manchester. Using its network of regional offices, the team at Secure Trust Bank Commercial Finance works closely with management teams to provide flexible asset-based lending solutions tailored to each business.

In July this year Secure Trust Bank Commercial Finance also passed £5bn of invoices funded with £1bn of invoices in the previous 10 months.

John Gribbon, regional managing director for Yorkshire at Secure Trust Bank Commercial Finance, said: “This has been a challenging period for many businesses and we’re pleased we’ve been able to support so many of our existing clients.

“Since lockdown was announced in March, we’ve been working with management teams within the region to create bespoke and flexible solutions that recognise the challenges that each business has faced and provide the best outcome.

“Although it’s been difficult, this time has given many businesses the opportunity to reassess and make strategic decisions about their future, whether that’s restructuring, exploring new routes to market or developing new products as they look to expand their offering and we’re proud to have been able to support them as they plan for the future.”

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