Specialist working capital, property development and bridging lender, One Stop Business Finance Limited has secured an extension of up to £4 million to its existing £6 million funding line from Shawbrook Bank.
The amendment to the facility, signed on the 13th of September – contributes to the alternative lender, One Stop Business Finance Limited continuing to grow its loan book and exceed lending targets for the year.
The facility has increased to £10 million on an uncommitted basis, which allows One Stop Business Finance Limited to continue to support SME businesses throughout England and Wales. This follows sustained profit growth and a successful recruitment campaign in the North-West, which saw two new Business Development Managers, Liam Killen and Ben Clarke join the group earlier this year.
The company typically funds secured property transactions, offering responsible, alternative funding solutions such as working capital, bridging, revolving credit facilities, and invoice finance.
This agreement is a strong endorsement of the development of One Stop Business Finance’s commitment to investing in business growth, operations and risk procedures and offering exemplary customer service.
Due to its proximity to its customers and the market, owner-controlled One Stop Business Finance has the flexibility, knowledge, and appetite to help businesses when their bank is unable to do so.
Andrew Mackenzie, Group Managing Director of One Stop Business Finance, commented on the facility increase: “I am delighted that we have been able to build further on the relationship that we began with Shawbrook in 2019. This additional funding line continues to sit well alongside our private money and ensures that we have sufficient cash availability to deliver our short-and medium-term plans. Shawbrook continues to be very easy to deal with and has wholeheartedly bought into our strategic growth plans.”
The Speciality Finance team at Shawbrook has an established track record in providing funding lines to non-bank specialist lenders across multiple sectors, including property, SME, and consumer finance.
Luke Randell, Associate Director of Speciality Finance, commented that “Shawbrook has proudly supported One Stop Business Finance since 2019 recognising the business’ success in providing flexible financial solutions. We were able to provide a bespoke funding solution increasing our facility to £10 million following years of successful prudent loan book growth. We value our relationship with One Stop Business Finance and look forward to remaining a key funding partner as the business continues to grow.”
