Funding is one of the company’s regional allocations, with the lender expected to provide at least an additional Â£ 275million to businesses throughout the year. It offers financial assistance through business loans and asset finance products.
The firm has also allocated funds by sector with over Â£ 60million earmarked for lawyers, the most active sector in the business. The construction industry has been allocated some Â£ 25million of the total, of which over Â£ 20million goes to the manufacturing sector. The accounting sector has received around Â£ 15million in support.
White Oak has nearly 200 UK-based professionals who have approved loans for small and medium-sized enterprises (SMEs) and midsize businesses, 80% of which have loaned to SMEs outside of London.
Andy Davies, Managing Director of White Oak Leases & Loans, said: âWe are very proud of the role we have played in supporting businesses across the UK during what have been the most difficult times in modern times. .
“This funding allocation underscores our commitment to businesses in Scotland as we seek to help them thrive and push us towards economic recovery.”
Derek Money, the aptly appointed Sales Manager at White Oak in Glasgow, added: âWith our boots in the field, we have a solid understanding of what Scottish businesses need to get the financial support they need and what they need. funds will help contribute to the economic prosperity of SMEs and the Scottish economy.