York-based One Stop Business Finance has agreed an extended deal with Shawbrook to sustain its work in lending to SMEs.
The increased facility provided by Shawbrook will allow One Stop Business Finance to keep delivering flexible funding to its clients and grow their loan book, helping in delivering services to an increased number of small businesses, UK-wide.
Established in 2014 in York, One Stop Business Finance offers bespoke funding options to SMEs. From working capital solutions to invoice finance and development lending, the specialist lender offers clients a personal service which includes access to a dedicated ‘trusted advisor’ who works one-on-one with business owners.
Shawbrook and One Stop Business Finance’s relationship first began in 2019, when Shawbrook provided a £3m facility funding their bridging and development finance book. This has since increased in line with business needs and growth, most recently having grown from £10m to £15m in June this year.
Shawbrook is now the firm’s largest funding partner, with Shawbrook’s deep understanding both of One Stop Business Finance’s business and the wider market being a key driver behind the relationship.
Andrew Mackenzie, Group MD at One Stop Business Finance, said: “This additional funding line continues to sit well alongside our private money and ensures that we have sufficient cash availability to deliver our plan to become a nationwide lender.
“As conditions remain precarious across the country, it is important that we continue to strive in delivering our friendly flexible funding solutions to fund business growth for those who may struggle to access cash through the traditional routes.”
Luke Randell, Associate Director of Structured Finance at Shawbrook, said: “One Stop Business Finance offer much needed support to the UK’s SMEs, and we’re pleased to be assisting them with their next stage of growth. The senior team’s professionalism and strategic management skills have been particularly impressive throughout our relationship with them, and we’re excited to see where they take the business next.”
