As a consequence, D&D Leasing has successfully negotiated a funding facility to expand upon its Professions lending. This comprises a three-year £20 million facility with R. Raphael & Sons (Raphaels Bank) which will be used to support transaction sizes of a maximum of £50,000 initially – but with a potential to grow over time.
Dost explained that Professions lending is geared up exclusively to assisting a wide range of professional organizations and firms including accountants, architects and lawyers by providing working capital loans. “We are noticing a significant demand for this type of product in the market at the present time,” he said.
D&D Leasing offers finance predominantly to entrepreneurs and small businesses mainly through the broker channel. Dost said that its focus is businesses with under £5 million in turnover with average ticket sizes ranging between £15,000 to £35,000 and a maximum of £50,000.
As for the future, Dost added: “Watch this space as we hope to make a few more announcements soon.”