Independent business lender White Oak has announced that it has completed its securitization facility from Barclays, with funds set to be rolled out to SMEs across the UK through property finance solutions.
White Oak is committed to supporting the UK’s economic recovery and will use the facility to enable SMEs to invest in their businesses while boosting productivity and growth. . This comes as the UK Government has implemented a number of measures to encourage businesses to invest, including a superannuation deduction that allows businesses to cut their tax bill by up to 25p for every £1 they pay. investment.
With balance sheet c. 500 million pounds, White Oak is one of the largest non-bank SME lenders in the UK. The company has played a key role in supporting a wide range of SMEs during the pandemic through its CBILS program and its existing lending and rental products.
Building on an established track record in the UK since 1986, White Oak is now set to deploy significant capital into property financing in the coming years while continuing to grow the business for his loan. White Oak will deploy support across many areas including agriculture, manufacturing and construction with a team of consultants with extensive experience from these fields.
The professional asset finance securitization facility is the second White Oak has placed with Barclays after the £150 million CBILS securitization facility last September.
White Oak recently announced a new HQ office in Chester to support the continued growth of the business. With offices in London, Glasgow, Southampton and Chester, White Oak benefits from nationwide coverage and over 100 established entities that have approved loans for SMEs across the country, with 79% of loans to date have been rolled out to businesses outside of London.
Daniel Werchola, Chief Strategy Officer at White Oak Europe, said: “With a focus on supporting SMEs through the pandemic with both CBILS and our traditional lending products, we now sees an excellent opportunity to support the UK economic recovery by further deploying capital into client asset finance products in addition to our lending products. We are delighted to have worked with Barclays on this transaction, which will support our continued growth. ”
Doug Banks, Treasurer at White Oak Europe, said: “We are delighted to have successfully completed another significant transaction with Barclays, working together to grow this specialist base. This adds another securitization process to our diverse funding mix, allowing us to efficiently deploy capital into the SME market. ”
