UTB provides £900,000 finance facility to support SME expansion

United Trust Bank (UTB) has agreed a £900,000 asset finance facility to help a plant hire SME expand its fleet of scissor lifts in response to rising customer demand.

The bank worked with an introducing broker to finalise the deal, which will allow the business to scale up its operations and increase availability of equipment for hire. UTB said the long-standing relationship it had built with the broker enabled it to streamline underwriting and move quickly to confirm funding.

The transaction was led by UTB relationship manager Kerry Pickering and senior underwriter Rob Irving, who collaborated closely with the broker to structure a package that met the customer’s requirements.

Pickering said the deal demonstrated UTB’s ability to support a wide range of asset finance proposals.

“We understand that strong broker relationships are the key to successful outcomes, especially on larger and more complex deals,” she said. “We value the knowledge and skills a broker brings to a transaction and the trust they place in us to deliver a great solution for their customers.”

The funding will enable the SME to grow its fleet and strengthen its position in a competitive hire market, UTB said.