White Oak UK, one of the UK’s largest alternative providers of business finance, today announced it has broken through £1.5 billion in lending on its own book.
Carl D’Ammassa, CEO of White Oak UK, said:
“This milestone comes at a time when SMEs are finding it increasingly challenging to secure business funding through more traditional methods, a sign of a changing tide in SME finance and importantly, a more favourable move towards alternative providers.
"This achievement is a testament to White Oak UK’s commitment to supporting businesses with access to simple and accessible finance solutions.”
Breaking down the £1.5 billion number:
- Since White Oak UK’s book started in 2014, the business has helped fund over 30,000 businesses
- In the last 12 months, White Oak UK has written almost 8,000 deals at an average loan size of £36,000
- Deals have originated from a mix of direct, introduced, brokered, marketing & aggregated channels
One business who took White Oak UK past the £1.5 billion mark is Willow Tree Interiors, a design firm who create unique, handmade English kitchens for homes across the UK. Luke Stanger, Managing Director commented:
“White Oak UK has aided the much-needed growth within the business, allowing us to expand in what are challenging times.
"We now have our high street showroom in Heathfield, East Sussex with a growing list of projects planned, something we would not have been able to achieve without their support."
White Oak UK, which rebranded from LDF in July 2018, has been providing flexible business finance solutions in the UK for more than 30 years.
In 2018, the firm provided £520million in funding to businesses, having also broken the £1billion mark on its own book in 2018 since its launch four years prior.