"I’m delighted that we are able to provide an increased range of options to our customers through our new ABL offering."
The Bank will provide lending facilities of £2 million and up against a wide range of assets including debtors, stock, plant and machinery in addition to commercial property. The new offering is available to both existing and new customers.
ABL can be used for a number of business needs including refinancing of existing loans, growth both organically and via acquisitions, as well as transactional opportunities such as management buy-ins and buy-outs.
Alongside its new ABL offering, Metro Bank is able to provide a range of other financial support to customers. Lending options include cashflow loans, revolving credit facilities and overdrafts.
Alan Austin, head of asset based lending at Metro Bank, commented: “As a specialist lender, we’re thrilled to launch into asset based lending. Metro Bank’s focus will be on providing truly bespoke lending solutions that are tailored to each and every customer. When combined with our award-winning level of service – alongside the Bank’s comprehensive banking and lending offering – we’re looking forward to supporting many more businesses in the years ahead.”
Kevin Craven, director of invoice finance at Metro Bank, added: “I’m delighted that we are able to provide an increased range of options to our customers through our new ABL offering. Our unique, customer focussed approach helped us to grow at a market leading rate in 2021, and the ability to offer even more choice to businesses will help us to support even more new customers going forward.”
