Wilmslow-based Kingsway Asset Finance has been given a £12.5m funding package to assist with its growth plans.
The business has received a three-year committed revolving facility of £12.5m from NatWest that will help to diversify its funding sources and support its growth aspirations.
Founded in 1992, Kingsway Asset Finance specialises in providing asset finance and professional loans to small- and medium-sized enterprise borrowers across the UK, operating through a selected panel of approved finance brokers and equipment dealers.
Adrian Anthon, managing director of Kingsway Asset Finance, said: "Kingsway has an excellent longstanding relationship with Natwest and I am delighted that the bank has supported us with this new facility, which will be of great assistance to us in enabling us to increase our own lending to UK SMEs."
Michael Murray, director of the financial institutions group at the Royal Bank of Scotland, said: "NatWest is very pleased to continue to expand our longstanding relationship with Kingsway through provision of this new facility.
"Kingsway is a fantastic example of a business that is supporting SMEs across the UK, focusing on old-fashioned underwriting of a proposal as opposed to an automated credit-scoring approach. The bank is very focussed on supporting regional players such as Kingsway, which in turn helps to deepen the funding options available to UK SMEs."
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