Wesleyan Bank, a specialist provider of commercial finance solutions and part of Wesleyan Group, entered the wholesale finance market with small ticket finance house D&D Leasing, with the two companies signing a £20 million ($25.8 million) facility.
D&D, which was founded in Canada, has been in business for 18 years and has become a niche funder to professions and small businesses. The company has been established in the UK for nine years providing finance across the business loan, vehicle, equipment finance and leasing markets.
The facility, a £20 million ($25.8 million) wholesale line, will allow D&D Leasing to continue to fund and serve the growing and underserved professions business sectors.
“We’re excited for this partnership. The team at Wesleyan know who we are, what we are about and believe in what we’re trying to do,” Rev. Dr. K. Bill Dost, group CEO of D&D Leasing, said. “Together we have entered into a long-term arrangement that will continue to allow us to serve those who require a little extra assistance from their finance partner.”
UK-based Wesleyan Bank has more than 25 years of experience in the equipment finance and professional loans market. Entering the wholesale finance market is part of a series of “strategic initiatives to support the bank’s ambitious growth plans,” Steve Deutsch, chief executive of Wesleyan Bank, said.
“We are pleased to partner with D&D Leasing. In any business arrangement we seek shared values and good service to the end customer,” Deutsch added. “We are confident that the excellent reputation of Bill and his team will give us the foundation of a successful relationship.”
