SME lender Allica Bank has handed the £500m milestone for asset finance lending.
The lender launched its asset finance division in January 2021, and it stated the variety of loans issued within the final 12 months was almost double the quantity Allica Bank lent within the earlier two years mixed.
Allica Bank stated it was receiving a mean of greater than 750 functions for asset finance each month, attributing the rise to its skill to supply quick selections to brokers.
The lender stated it additionally noticed development because of the growth of its product suite to incorporate mushy and medium belongings. It stated it had acquired almost £50m in functions for this proposition.
Brandon Hall, head of asset finance gross sales at Allica Bank, stated: “Allica has built a reputation among brokers for fast and consistent decision-making, supported by top-class customer service. You can see this in our broker satisfaction surveys, in which 89% rate our service as good or excellent.”
This follows the lender’s announcement that it lent greater than £2bn in business mortgages final yr.
Earlier this week, Allica Bank – which launched in 2020 – launched its full-year outcomes for 2023, which confirmed it delivered its first annual revenue of £16.1m. It additionally noticed its new natural lending attain £729.1m, up from the earlier yr’s complete of £565.9m.
Shekina is the deputy editor at Mortgage Solutions and business editor at Mortgage Solutions and Specialist Lending Solutions. She has almost eight years of expertise within the B2B publishing market, having beforehand coated the hospitality, retail, pet, accounting and jewelry sectors.
Shekina has labored for Mortgage Solutions and Specialist Lending Solutions for almost 5 years. Here, she covers the market’s breaking information tales, engages with professionals within the sector, and oversees any commercially agreed content material in partnership with mortgage-related firms.
This consists of presenting webinars and internet hosting roundtable discussions on creating themes within the mortgage sector.
She is an NCTJ-trained journalist and was nominated for the Headline Money Awards Mortgage Journalist of the Year in 2021.
In her spare time, Shekina likes to learn, journey, take heed to music and socialise with buddies.
She at the moment experiences on present occasions within the mortgage market and liaises with monetary shoppers to provide sponsored content material.
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