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|Lloyds Bank strengthens support available to mid-market firms|
|Thursday, 07 January 2016|
Lloyds Bank has appointed Kelly Henney as director, business development, to its growing Trade and Working Capital team in the Midlands and South West, to bolster its Asset Based Lending offering to mid-market firms.
Kelly joins the bank’s Global Transaction Banking division after 16 years at RBS, where she originated and completed new business opportunities and helped small and medium sized firms drive efficiencies and optimise their operations.
She will be providing funding solutions to new and existing clients with annual turnovers in excess of £25million.
These include invoice finance, which allows a business to borrow against the value of its unpaid sales invoices, and asset based lending, where assets such as inventory, plant and machinery and property are used as collateral to helps firms leverage their balance sheet to support growth. By utilising its trade finance expertise, the bank can fund all aspects of the working capital cycle for businesses whether they be UK centric, importers, or exporters.
Kelly’s appointment follows the latest ABFA figures that show the popularity of asset based finance has continued to grow, with a record £20bn lent to UK and Irish SMEs over the last year (four per cent increase year on year).
Kelly joins the 20-strong trade and working capital team led by regional head Mark Parsons, who said: “Kelly understands the type of product solutions that businesses need to accelerate their domestic and international growth. She complements our team well and her appointment is part of our on-going strategy to strengthen the support and experience we can offer clients, which has seen the team grow by a third since the beginning of the year.”
Kelly added: “I am pleased to join a dynamic and forward thinking team that places the needs of its clients above everything else, so it can deliver a high quality service and help build the region’s economy further. Using asset based finance to unlock working capital is a flexible, speedy solution that can help businesses expand into new markets, and I am looking forward to working with the ambitious mid-market firms in the Midlands and South West to help accelerate their growth strategies.”
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