Wesleyan Bank, a specialist provider of commercial finance solutions, and DND Finance expanded their existing wholesale finance facility to include a £15 million ($18.9 million) asset finance facility.
DND Finance is a 19-year-old, Canadian operation and niche funder to professions and small business in the UK. The company has been established in the UK for ten years, providing finance across the business loan, vehicle, equipment finance and leasing markets. DND has also recently expanded into the charge card market, offering a Visa solution to both corporates and individuals.
The facility expands on the already operating professions loan facility DND signed with Wesleyan Bank last year.
Rev. Dr. K. Bill Dost, group CEO of DND Finance, said, “I believe this speaks to Wesleyan Banks’ confidence in us and our ability to serve the SME marketplace. It will also now allow us to provide some fantastic asset finance solutions to the same marketplace.”
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,” according to Sean Read, director of Operations at Wesleyan Bank.
Launched in 2000, DND Finance is a division of D&D Leasing UK, a multi-national finance company founded by Dost to fund the underserved SME arena in Canada.
Established in 1993, Wesleyan Bank is a wholly owned subsidiary of Wesleyan Assurance Society, providing tailored personal and commercial banking solutions to the professions, education and SME markets that span short and long-term loans and savings.
