An East Yorkshire-based alternative lender has significantly increased its financing capability, allowing it to provide further support to SMEs.
One Stop Business Finance has secured a £4 million addition to its funding line with retail and commercial bank Shawbrook. The 66 per cent uplift from the £6 million existing cap will allow the growing team to build its loan book and exceed lending targets for the year.
A specialist working capital, property development and bridging lender, the uncommitted agreement follows sustained profit growth and a successful recruitment campaign, which saw eight new team members join the group earlier this year. It has also entered the invoice finance market earlier this year.
