June 24, 2014, 05:59 AM
Filed Under: International
D&D Leasing UK Ltd. announced that it has recently negotiated a funding facility to further its Professions Loan business. This will allow D&D to continue to strive toward serving the underfunded entrepreneurial and small and medium enterprise (SME) sector in the UK.
D&D Leasing Managing Director Bill Dost said, “I’m excited that last year’s pilot program was so well received. This facility gives us a solid runway to write a steady flow of business in this sector and to continue to serve our customer base. It also allows us to continue to serve those UK business owners who are continually ignored by the larger establishments.”
“We have one mandate, to provide funding in verticals where our customer base is active,” he added. The facility itself, which is geared only toward Professions Loans, is a three- year, £20 million pound facility through R. Raphael & Sons Plc. Transactions sizes will be a maximum of £50,000 initially with a potential to grow over time.
Raphaels Bank is the second oldest independent bank in the UK. It was founded in 1787 by Raphael Raphael, a young Dutch merchant who moved from Amsterdam to London. The Raphael family sold the Bank in 1983 and in 2004 it was acquired by Lenlyn Holdings plc.
D&D Leasing UK Ltd. is a UK-based company registered in London and offering finance to Entrepreneurs, and SME’s primarily through the broker channel. Its focus is on businesses with under £5 million in turnover, with average ticket sizes ranging between £15,000-35, 000 and a maximum size of £50,000.