White Oak UK has completed a £150m securitisation facility from Barclays Bank, with the independent lender to deploy the funds to SMEs and mid-sized corporates via asset finance solutions
- Completion of the facility comes as White Oak UK focuses on growing its asset finance business, supporting post-pandemic recovery
- White Oak UK funds a range of assets at competitive rates across different sectors including Agriculture, Manufacturing and Construction
16 November, London:
Independent business lender White Oak UK has announced it has completed a securitisation facility from Barclays Bank Plc (“Barclays”). The funds are set to be deployed to SMEs across the UK via asset finance solutions.
White Oak UK is committed to supporting the UK’s economic recovery, set on using this facility to enable SMEs and mid-size corporates to invest in their business and drive productivity and growth. This comes as the UK Government implements several measures to encourage businesses to invest, including the super deduction which allows businesses to cut their tax bill by up to 25p for every £1 they invest.
Our History
With a balance sheet of c. £500 million, White Oak UK is one of the largest non-bank SME lenders in the UK. The firm has been instrumental in supporting a range of SMEs and mid-sized corporates during the pandemic via the CBILS scheme as well as its existing lease and loans products.
Building on an established track record in the UK since 1986, White Oak UK is now to deploy significant capital into asset finance over the coming years. It continues to grow its loans business. White Oak UK will deploy support across a range of sectors including agriculture, manufacturing, and construction. Its team of consultants have a wealth of experience from across these sectors.
This specialist asset finance securitisation facility is the second that White Oak UK has put in place with Barclays. In September last year, White Oak UK set up a £150 million CBILS securitisation facility with Barclays.
White Oak UK recently announced a new HQ office in Chester to support continued growth for the business. With offices in London, Glasgow, Southampton, and Chester, White Oak UK benefits from national coverage. Its 100+ origination force has approved loans for SMEs and mid-sized corporates right across the country. 79% of lending so far has been deployed to businesses outside of London.
Daniel Werchola, Chief Strategy Officer at White Oak UK Europe, said:
“Having focused on supporting SMEs and mid-corporates through the pandemic with both CBILS and our traditional lending products, we now see a great opportunity to support the UK economic recovery by further deploying capital into asset finance products for our customers alongside our loan products. We are pleased to have worked with Barclays on this transaction, which will support our continued growth.”
Doug Banks, Treasurer at White Oak UK Europe, said:
“We are pleased to have successfully executed another significant transaction with Barclays, working together to develop this specialist facility. This adds another securitisation to our diverse funding mix that allows us to efficiently deploy funds into the SME and mid-corporate market.”
About White Oak UK
White Oak UK has been lending to UK businesses since 1986. Formerly LDF Group, White Oak Global Advisors LLC acquired the company in 2018, on behalf of its institutional clients.
The organisation provides business loans, equipment finance and asset-based lending solutions to SMEs and mid-corporate clients across the UK.
Moreover, the business lent over £1.5 billion from its own-book to UK businesses in the last five years. This has been over 45,000 customers.
White Oak UK currently supports over 20,000 SME clients in the UK. This includes a diverse number of sectors through its multi-product, multi-channel distribution model. There is a strong focus on building deep client relationships through its offices and field-based support services.
Talk to us
If you are looking to find the right finance for your business, contact us today.
Discover the right business products all in one place.
Tell us about your business.
