Raphaels Bank supports D&D Leasing with £20m Professions-funding line

Written by Brian Rogerson
Published: 30 June 2014
Created: 30 June 2014

D&D Leasing’s pilot program into Professions lending is proving a success.
Managing director Bill Dost told Asset Finance International: “Last year’s pilot scheme was well received and gave us a solid runway to write a steady flow of business in this sector. It also allows us to continue to serve those UK business owners who are continually ignored by the larger establishments.”

As a consequence, D&D Leasing has successfully negotiated a funding facility to expand upon its Professions lending. This comprises a three-year £20 million facility with R. Raphael & Sons (Raphaels Bank) which will be used to support transaction sizes of a maximum of £50,000 initially – but with a potential to grow over time.

Dost explained that Professions lending is geared up exclusively to assisting a wide range of professional organizations and firms including accountants, architects and lawyers by providing working capital loans. “We are noticing a significant demand for this type of product in the market at the present time,” he said.

D&D Leasing offers finance predominantly to entrepreneurs and small businesses mainly through the broker channel. Dost said that its focus is businesses with under £5 million in turnover with average ticket sizes ranging between £15,000 to £35,000 and a maximum of £50,000.

As for the future, Dost added: “Watch this space as we hope to make a few more announcements soon.”

www.assetfinanceinternational.com | Original article source | June 2014