South: RBS Invoice Finance reaches £1b ABL landmark

RBS Invoice Finance (RBSIF) has produced its strongest performance to date for alternative lending to the UK corporate and plcs by reaching the £1 billion mark for asset-based lending (ABL). 

The announcement is considered to be a tipping point for true ABL in the UK, and figures released from the bank reveal a number of UK sectors are using ABL loans which include manufacturing (£346.9 million), construction & plant (£204.9m), retail and distribution (£122.3m) and other services such as print and packaging (£117.5m).

Chris Hawes, director of corporate UK at RBSIF, explained: “Achieving a £1b ABL portfolio is a real milestone on the way to ABL's across-the-board recognition as a mainstream debt structure, not simply a product. We started the ABL business in RBS in late 2009 and have achieved this success from a standing start through our talented and diverse team.

"We have grown and strengthened this team to match the growth in the business over the years. It is very satisfying to see this new sense of awareness around ABL. Finance directors and business leaders are increasingly attuned to the flexibility it provides. They’re also finding it’s a prudent and agile way of financing a lot of the moves they want for their business – from strategic growth to M&A activity as well as exporting.”

John Nelson, head of corporate for the south, added: “Supporting the local business community is our priority and the demand for ABL is rising. RBSIF is already the UK’s leading player in the ABL field and we work with a number of high-profile clients across the region including Swindon-based Dynamatic and Walstead Investments, a leading UK magazine and commercial printing company with sites based across the south in London, Maldon, Roche and Southampton.”