CCR Magazine

You are here  :Home arrow News arrow Wesleyan Bank launches asset finance funding initiative for UK SMEs
Contact Us Newsletter Signup RSS Feeds

Latest News Headlines


Commercial Credit News


Wesleyan Bank launches asset finance funding initiative for UK SMEs PDF Print E-mail
Wednesday, 26 July 2017
Wesleyan Bank has today launched a new asset finance funding initiative as part of its drive to help small and medium sized firms grow and compete against larger, more established competitors.  

The specialist commercial finance provider, which has doubled its net lending to UK SMEs and professions since 2015, has pledged to make an additional £50 million of funding available to businesses who are specifically seeking finance for asset-related purchases. The new ‘Asset Heroes’ initiative will run from today until 31 December 2017 and UK SMEs from any industry sector are eligible to apply for funding.

Wesleyan Bank offers flexible short-term and long-term finance solutions to enable SMEs to invest in IT software and hardware, plant machinery, office equipment in addition to building refurbishments and relocations, by spreading the cost over a period from one to five years. This ensures ambitious firms can quickly access the equipment and technologies they need, when they need them, without impacting their cash flow or working capital by paying for new assets upfront.

Wesleyan Bank’s asset finance commitment follows on from the company’s second annual SME Attitudes to Finance research which surveyed 538 SME owners, from first time and experienced business owners to serial entrepreneurs. The report covers a wide range of topics including levels of optimism following the official beginnings of Brexit, growth and profitability, planned areas of investment and perceptions around external finance.

The findings reveal that almost a third of firms (30 per cent) who are planning future investments in the next 12 months are most likely to implement new IT software and digital technologies to increase efficiency. This is followed by purchasing specialist equipment (24 per cent) and a wide range of remaining answers which included expanding their firm’s business premises, staff recruitment and training and acquiring another business.

But despite stating their desire to grow their business, only 21 per cent of SMEs said they intend to borrow more money this year compared to 2016. Explanations cited for their apparent fear of borrowing were risk of being in debt (57 per cent) and experiencing greater financial pressures due to rising operating costs during the past few months (40 per cent).

Steve Deutsch, Chief Executive of Wesleyan Bank, said: “Given the uncertainty surrounding Brexit, it’s only natural for small businesses to be cautious about making a financial investment. However, investing in new assets can often be the best way to boost revenues, attract and retain customers and strengthen a firm’s competitive position.

“As a bespoke provider of commercial finance solutions, UK SMEs can be reassured that we are committed to assisting them to access the assets they need to grow and prosper as quickly, efficiently and painlessly as possible.”

 Forums International Ltd

Forums International Ltd

 Attendance at your first meeting is free of charge, and please quote reference 'CCR2016' to receive the special 10% discount off of your first annual subscription.

Find out more here.

latest issue

CCR Cover

The latest edition of CCR Magazine, the leading editorial publication in the UK credit industry, is out.

Read the latest issue online


CCR is the premier magazine for consumer and credit professionals. It provides an independent voice to the industry, breaking major news stories and running in-depth features.

As a magazine, it works with and campaigns on behalf of the credit industry to promote its importance as a centre of potential profit and business development to the wider business world.

Subscribe to CCR Magazine

CCR World Magazine


Providing information and analysis for thousands of senior credit professionals worldwide, every quarter.

Find out more

GTS Media Ltd
81 Cambridge Road

Registered in England No: 05483197