United Trust Bank has launched its first ever short-term professional lending product for businessmen who have been trading at least three years.
The product, which offers loans from £10,000 to £300,000, is available for a range of professionals such as solicitors, accountants, architects, barristers, doctors, dentists, opticians and pharmacists.
Kevin Flowerday, head of professional lending and technology finance at United Trust Bank, who developed and manages the product, said: “Prudent cash flow management is critical to any organisation but there are often instances where a successful business requires additional working capital to satisfy large outlays.
“Whether a two partner accountancy practice, a global architect or a thirty partner legal firm, there are frequently VAT, tax and other significant expenses that can fall due when cash reserves are low.
“Factor in costly insurances and regulatory fees and even the most diligent of businesses can require some short-term financial assistance.
“United Trust Bank can now offer its considerable expertise and outstanding customer service to our broker partners who represent professional businesses which require quick and decisive funding solutions.”
To ensure brokers’ enquiries are addressed quickly UTB will have dedicated account managers.
Flowerday added: “We understand the professions sector; how professional businesses are funded, partner requirements for equity and performance, and the regulatory requirements in a constantly evolving marketplace.
“With United Trust Bank, brokers and borrowers have the assurance that there’s a reliable and professional funder working with them.”