York-based alternative finance lender One Stop Business Finance Group has exceeded £20m in lending for the first time, after a record month in February.
The lender reached £15.7m in entirely new deals over the 12-month period, representing a 34% increase compared with the previous year.
One Stop’s loan book increased from £14m to £21m in the year to February 2023, a 47% increase.
The firm also doubled the size of its team in 2022.
One Stop Business Finance Group supports small to medium enterprises (SMEs) with financial services, including invoice finance, working capital, development finance and revolving credit.
Andrew Mackenzie (pictured), founder and group managing director at One Stop Business Finance, said: “This milestone is reflective of the amount of funding that we can continue to offer businesses across the country.
“These record performances across all areas of our business are a demonstration that our ‘people first’ and responsible lending strategy continues to deliver strong results.
“We remain committed to supporting the ambitions of small to medium businesses [SMEs] and are proud that we offer bespoke funding solutions to meet the needs of a diverse selection of industries.
“SMEs are often the first to experience difficulties accessing finance during times of economic stress, yet by virtue of their size rely disproportionately on external finance for cash flow and investment opportunities.
“When the banks say ‘no’, our friendly flexible funding solutions can offer cost-effective solutions so that businesses can focus on their growth goals, development, and recovery.
“This milestone reflects the hard work of our whole team with the continued support of our private and institutional funders, as we push on towards the £30m target before entering our 10th operational year.”
Find out more about One Stop Business Finance at www.osbf.co.uk.
ENDS
Notes to editors:
15.7m in last 12 months for entirely new deals.
Loan book has increased from 14m 12 months ago to 21m in Feb-23 – this is a 47% increase in the loan book
83 deals done in 12 months – we did 62 the year before -34% Increase.
Image shows Andrew Mackenzie, Group Managing Director, One Stop Business Finance Limited
Best wishes, as always,
