Aldermore Bank | Invoice & Trade Finance
Aldermore Bank is a retail bank, which has grown to be a ‘challenger bank’ in recent years and provides services to small and medium businesses in the UK. It is a finance provider that is listed on the London Stock Exchange after their initial public offering in 2015 and it now helps make up the FTSE 250 index.
Aldermore focuses on small and medium-sized businesses with its services including business and retail savings and their lending now includes asset and invoice finance, as well as commercial and residential mortgages.
Aldermore is a member of the Council of Mortgage Lenders and sponsors the National Association of Commercial Finance Brokers (NACFB). Their total net lending is now over £5.4 billion, with the figure of lending to SMEs being at £2.5 billion and homeowners at £2.9 billion. The total net deposits have increased to £5.0 billion, which is made up of SME deposits of £1.2 billion.
Helping you source the assets you need to grow your business, from tractors and trucks, to office equipment or solar panels, our asset finance products are tailored to suit you and can help you take your business to the next level.
Aldermore Bank – Benefits
- Aldermore Bank has an SME Rate Checker, which they see as uniquely innovative in relation to their savings business. An SME is permitted to check the interest rate that they are earning on their business savings accounts and compare the yield that they could be earning at Aldermore.
- Aldermore also have a customised fixed rate business savings account, which enables SMEs to maximise the return on their savings as they can select a maturity date and rate combination to meet their requirements. This is instead of choosing the best fit from a list of products with pre-defined terms. Aldermore were also one of the first financial institutions to offer a fully interactive customer service which allows clients to review their offering online. Their digital banking platform allows customers to find the bank, talk to them and transact.
- Continued winners of NACFB Awards
Aldermore is an alternative finance lender to both consumers and businesses. For businesses they offer:
General Business Banking:
- Invoice Finance
- Asset Finance
- Property Development Finance
- Bridging Finance
- Commercial Mortgages
- Buy To Let Mortgages
Aldermore offer import and export facilities ranging from £100k – several million.
Aldermore Bank is now a publicly traded bank and there is no stated upper limit on what can be raised.
Aldermore are winners of the ‘Invoice Finance Provider of the Year’ at the Credit Today Awards 2015 and the ‘Factor and Invoice Discounter of the Year’ at the 2014 NACFB awards.
Aldermore pride themselves on being flexible and offering a tailored finance solution to businesses which will be in line with the growth goals of an organization. They hold themselves out as being experts within the industry and having a straightforward approach with clear pricing structures, as they approve 9 out of 10 applications. Their customer support is integral to the business with relationship managers who look at building long term relationships.
My credit rating wasn’t the best so therefore I knew the High Street lenders would certainly reject me. My mortgage broker suggested Aldermore. The rates weren’t the best but were by far the best away from the high street lenders. I was offered a rate of 3.98% fixed over 2 years which I was happy with due to my credit scoring circumstances.
Aldermore were very quick and professional throughout; correspondence was excellent and I was updated sufficiently.
Valuation fee was paid and all in all the whole process was relatively quick. I had a cash buyer on my previous property and we purchased a new build; the whole process took between 6-8 weeks to complete.
If you’re credit rating isn’t the best the I cannot recommend Aldermore enough. They made it possible for my family and I to secure our dream home and our move possible.
Popular Types of Trade Finance
Private equity company – AnaCap Financial Partners LLP
Lynch Wood, Peterborough