Aldermore Business Finance Exceeds Commercial Lending Targets

aldermore Aldermore has lent £360 million to small and medium sized businesses over the past 12 months.

This takes the total value of loans on its books to more than £800 million and total assets to more than £1 billion.

Ian Wilkins, group managing director of commercial finance at Aldermore, said: “At a time when the big banks are falling short of their business lending targets, Aldermore is exceeding all expectations.

Aldermore offers specialist financial support to SMEs which enables them to purchase assets such as plant and equipment, improve their cashflow and acquire business premises.

In July, Aldermore’s Invoice Finance business made over £130 million of funding available to SMEs which is an increase of 42% over the same period last year (the invoice finance market has grown by less than 10% over the same period). At the same time, its Asset Finance business, which only started lending last year, boosted the bank’s balance sheet by £100 million, with £32 million of new loans being written last month.