Independent business lender White Oak UK has allocated £276 million in lending to sectors and regions across the UK
-The funding is available to businesses through traditional business loans and asset finance
-White Oak UK is one of the UK’s largest non-bank lenders and provided close to £400 million via the Government-backed CBILS scheme
White Oak UK has announced it has allocated £275 million in lending to sectors and regions around the country as it looks to spur the economic recovery of SMEs
The lending will be available to businesses via a number of products offered by White Oak UK, including business loans and asset finance solutions
The specific sector allocations are targeted at a number of the areas that White Oak UK is most active in, including £60 million to UK solicitors, as well as:
– £25 million to the construction industry
– £20 million to support services sector
-£20 million to manufacturers
-£15 million to accountancy firms
White Oak UK benefits from national coverage with almost 200 UK-based professionals spread across offices in London, Glasgow, Southampton, Manchester and Ewloe in Wales. The lender has committed regional lending allocations to London and North West with £40 million being ring-fenced for each region individually. White Oak UK has additionally allocated:
-£35 million to the Midlands
-£30 million to the South East
-£30 million to Scotland
-£20 million to the South West
– £20 million to Yorkshrie
-£10 million to Wales
White Oak UK has been committed to supporting businesses throughout the challenging Covid-19 pandemic and has provided £396.6 million in Government-backed CBILS loans to over 2,200 businesses. The lenders loan book also recently passed the milestone of £500 million for the year so far
Andy Davies, Managing Director of White Oak UK Leases & Loans, said:
“We are very proud of the role we’ve played in supporting businesses across the UK through what has been the most challenging period in modern times. As we look towards a brighter future, it is important that small businesses continue to receive the funding they need. These lending allocations will allow us to provide vital capital support and ensure that small businesses can grow and drive the UK’s economic recovery.”
Andre A Hakkak , Chief Executive Officer and Co-Founder of White Oak UK Global Advisors, LLC:
“Across the globe, our clients are looking now looking to the future as the world economy continues to recover. We are proud to have provided critical support to UK SMEs throughout the pandemic and with these lending allocations we look forward to continuing our partnerships with SMEs as they contribute to the UK’s economic recovery.”
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