Wesleyan Bank, a specialist provider of commercial finance solutions and part of Wesleyan Group, has entered the wholesale finance market in a £20 million deal with small ticket finance house D&D Leasing.
D&D Leasing is an 18-year-old business, founded in Canada, and 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 £20 million wholesale line will be used by D&D Leasing to fund its growing client base.
Rev. Dr. K. Bill Dost, group CEO of D&D Leasing, said: “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. 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.”
Wesleyan Bank has more than 25 years’ experience in the equipment finance and professional loans market.
Steve Deutsch, chief executive of Wesleyan Bank, said that entering the wholesale finance market is part of a series of strategic initiatives to support its ambitious growth plans.
He added: “We are pleased to partner with D&D Leasing. In any business arrangement we seek shared values and good service to the end customer. We are confident that the excellent reputation of Bill and his team will give us the foundation of a successful relationship.”