Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

Non-bank lender White Oak pledges to lend £500M to UK SME’s in 2023

by January 18, 2023
January 18, 2023
Non-bank lender White Oak pledges to lend £500M to UK SME’s in 2023

White Oak UK, one of the UK’s leading non-bank lenders, has pledged to provide £500m to UK SMEs and mid-corporates in 2023, as it continues to support the growth plans of small and medium sized firms across the UK.

The pledge follows the firm delivering a record £465m of funding in 2022; businesses in London and the South East had the greatest demand for funding, closely followed by the North of England and Scotland.

White Oak supports businesses with a range of funding products to suit their financing needs. Tax lending – including VAT finance – assisted 1,300 clients with the spread of the cost of their tax bill over 12 months and reached a value of £200m over the year, with the firm able to approve 90% of professional customers who applied for loans. Asset based lending meanwhile reached £175m, accounting for 40% of total White Oak loans. The firm is looking to target tax lending of £225m and asset based lending of £200m through 2023.

White Oak data from 2022 shows that the professional services sector saw the largest funding allocation, reaching a total of £110m, which equates to 25% of White Oak’s lending book for the year, followed by the construction sector, reaching £65m, which is 15% of the firm’s annual lending total.

White Oak UK, an affiliate of White Oak Global Advisors, LLC, provides business loans, asset finance and asset-based lending solutions to help drive growth for SMEs and mid-corporates in the UK; through 2022, the firm attracted over 2,000 new clients.

Jean-Marc Torre, CEO of White Oak UK, said: “Despite economic headwinds, 2022 showed that there is demand for capital from businesses, which remain laser-focused on their long-term growth plans. Time and time again, SMEs and mid-corporates have showed that they are resilient and agile and with the right support, we expect UK firms will be well-positioned to push forward with their expansion plans which is why we’re upping our lending totals for this year.”

Andy Davies, Managing Director of White Oak Leases & Loans, said: “Our 2022 lending figures show a strong spread of uptake for growth capital across all sectors and regions of the UK, from both existing and new clients. While some funding partners pull back support in more testing economic times, we are well-positioned to be able to provide flexible solutions to fuel the growth plans of businesses, which is why we’re pledging to provide half a billion to firms up and down the country in 2023.”

Read more:
Non-bank lender White Oak pledges to lend £500M to UK SME’s in 2023

0
FacebookTwitterGoogle +Pinterest
previous post
Training Courses That Will Help You In Your IT Career
next post
Why is cyber security so important for businesses?

You may also like

Oliva secures €5m to expand workplace mental health...

June 22, 2023

Amazon-iRobot deal scrapped after EU competition challenge

January 31, 2024

Boost your getting a better Perch Mortgage with...

December 27, 2022

UK workforce set to hit record low as...

December 13, 2024

UK agrees landmark trade deals with Australia and...

May 5, 2023

Closing The Gap: How to improve Performance from...

November 10, 2023

History of cryptocurrencies before the launching of bitcoin!

August 15, 2022

What industries have been most profitable in 2022?

December 27, 2022

Blockchain Solutions in Finance, Law, and Gaming: Ali...

January 2, 2025

Firms set to retain four-day week after trial...

February 21, 2023

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • HMRC inheritance tax investigations surge 37% as treasury seeks to plug revenue gap

      June 9, 2025
    • Believ secures £300m to roll out 30,000 public EV charge points across the UK

      June 9, 2025
    • US and China hold London talks to ease trade war tensions

      June 9, 2025
    • British fathers urged to join landmark ‘dad strike’ over poor paternity leave

      June 9, 2025
    • IVF parents should have right to paid fertility leave, says GMB union

      June 9, 2025
    • Reform UK clashes with Bank of England over interest payments to lenders

      June 9, 2025

    Categories

    • Business (8,158)
    • Investing (2,019)
    • Politics (15,571)
    • Stocks (3,136)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved