Metro Bank, the specialist high street lender, today launches a new Asset Based Lending (ABL) proposition.
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-to-bank 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 which, when combined with the Bank’s range of current and savings accounts, ensure that customers receive a superior all-round banking and funding service.
Metro Bank is currently rated as the number one high street bank for overall service quality and service in stores for business customers1. The Bank also offers a dedicated relationship manager for every bank account customer, alongside expert industry support, 24/7 local contact centres and an easy-to-use online banking platform.
Alan Austin, Head of Asset Based Lending at Metro Bank, comments: “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”.
For more information on Metro Bank’s new ABL offering, please contact Alan Austin, Head of Asset Based Lending on 07717 653 083 / Alan.Austin@metrobank.plc.uk.
Notes to editors
1 Competition and Market Authority’s February 2022 rankings.