East Yorkshire-based alternative funding provider One Stop Business Finance has exceeded £20 million in lending.
The milestone was passed in a record month for the specialist, with the loan book building by 47 per cent year on year.
One of the region’s fastest growing businesses, One Stop has doubled the size of the team in the past year, with new deals worth £15.7 million agreed in that time.
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Founder and group managing director, Andrew Mackenzie, said: “This milestone is reflective of the amount of funding that we can continue to offer businesses across the country. These record performances across all areas of our business are a demonstration that our ‘people first’ and responsible lending strategy continues to deliver strong results.
“We remain committed to supporting the ambitions of small to medium businesses and are proud that we offer bespoke funding solutions to meet the needs of a diverse selection of industries.
“SMEs are often the first to experience difficulties accessing finance during times of economic stress, yet by virtue of their size rely disproportionately on external finance for cash flow and investment opportunities. When the banks say ‘no’, our friendly flexible funding solutions can offer cost-effective solutions so that businesses can focus on their growth goals, development, and recovery.
“This milestone reflects the hard work of our whole team with the continued support of our private and institutional funders, as we push on towards the £30 million target before entering our 10th operational year.”
The Laytham-based business was established in 2014, and has concentrated on regional support through a range of financial services, including invoice finance, working capital loans, development lending, and revolving credit facilities.
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