White Oak, an alternative business lender, is reporting that its loan book has topped £500 million for the first time. White Oak noted that its loan book surpassed £250 million at the end of last year. The lender says it has experienced a record level of lending.
White Oak says it supported 2,200 UK SMEs through the pandemic with loans totaling over £351 million, a record-breaking figure for the lender. Through CBILS, White Oak provided over £315 million of support to businesses outside of London with £56 million going to companies in the North-West. Companies in the Midlands received £54 million in support.
Andy Davies, Managing Director of White Oak Leases & Loans, said the £500 million milestone demonstrates the support they have been able to provide to businesses in the country throughout this difficult year.
“We are incredibly proud of our team who have been instrumental in achieving this result and look forward to continuing to support SMEs as we transition out of the pandemic.”
White Oak also recently announced its new headquarters based in Chester, expanding its national footprint across the UK. As one of the largest employers in Chester, White Oak is focused on deploying £200m per year in asset finance to help fund SME’s recovery across the country.
