£25m Allocated to UK Construction
White Oak has announced that is has allocated a minimum of £25 million in lending to business in the UK’s construction sector. The lender has also underlined its commitment to supporting construction companies with 10% of White Oak’s lending ring-fenced for the industry.
The £25 million in funding is aimed at helping construction businesses as they look for capital to help support future growth. This funding is accessible via a number of products offered by White Oak, including business loans and asset finance solutions.
The lender has also allocated funding to regions throughout the UK with more than £40 million ring-fenced for businesses in the North West, over £35 million for those located in the Midlands and over £30 million allocated to Scottish businesses.
White Oak has supported businesses throughout the COVID-19 pandemic, and has provided £396.6 million in Government-backed CBILS loans to more than 2,200 businesses. The businesses it has supported are spread across a range of sectors, with £76.5 million going to those in the construction sector.
Andy Davies, Managing Director of White Oak Leases & Loans, said: “We are very proud of the role we’ve played in supporting businesses across the UK through what has been the most challenging period in modern times. As we look towards a brighter future, it is important that businesses continue to receive the support they need. The construction sector will be vital as we look to rebuild the British economy and we are looking forward to providing capital that allows businesses in the sector to thrive over the coming months.”
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