Move sees the company exit the unsecured loan market
We have announced a strategic refocus of our product portfolio as we withdraw from the unsecured loan market to concentrate on further investment in our range of core asset-based solutions.
The decision enables a full focus on growing our market-leading Invoice Finance, Asset Finance and Bridging products, and aligning our depth of offering into bespoke structured solutions suitable for individual client needs.
Unsecured loans will no longer be provided on a standalone basis, although clients will continue to have access to cashflow loans alongside our secured products. We will continue to support and service existing unsecured loan clients until the end of their facility.
Commenting on the move our CEO, Josh Levy, said:
“We are committed to ensuring that our structure and strategy allows us to be responsive to market conditions and positioned to capitalise on our growth potential.
“By no longer offering standalone unsecured loans and solely focusing on asset-based lending, we are prioritising our core strengths and ensuring that our market proposition is clear and concentrated on our specialist areas of secured lending. We are committed to continuing to provide our clients, including those with existing unsecured loans, with high levels of service enabled by technology.
“The strength of our people and our focus on serving the funding needs of our clients in a personal and flexible manner, returned H1 growth figures that we were all proud of. Now evolution is needed to reach our long-term aspirations and to capitalise on the huge opportunity in front of us.”