White Oak lends £200m in CBILS support to 1,000+ UK SMEs

16 December 2020

Since the lender was accredited to the CBILS in May, it has provided tailored finance solutions for over 1,000 businesses with loans paid out from £75,000 to £750,000, and the ability to lend up to £5m under the terms of the CBILS scheme. The pace of lending has increased in the build up to the end of the year with £30 million being lent in just one week.

White Oak’s fast and flexible funding has allowed it to partner with a wide range of businesses to help them grow, including:

£34m to companies in the construction and manufacturing sectors
£53m to solicitors and business support services
£17m to retailers and wholesalers

With offices in London, Glasgow, Southampton, Manchester and Ewloe in Wales, White Oak benefits from national coverage, and its almost 200 UK-based professionals have approved loans for SMEs and mid-sized corporates around the country with 80% lent to SMEs outside of London.

White Oak has recently announced that for the first time in the lender’s history, it has hit a loan book of £250,000,000 and since then, the book has already surpassed £300m. White Oak is set to continue providing valuable support to SMEs and mid-sized corporates through the crisis, with ambitions to lend up to £300m before the scheme closes for new applicants on 31st January 2021.

Andy Davies, Managing Director of Leases & Loans at White Oak, said:

We recognise that no two businesses are the same, and it’s great to see that our hard-working team are able to provide flexible and tailored funding solutions to SMEs across the UK. The CBIL Scheme provides support to businesses affected by the Covid-19 pandemic, and at White Oak we are proud to be a partner for these businesses as they navigate the changing business landscape and look to the growth opportunities ahead.

Andre A. Hakkak, Chief Executive Officer and Co-Founder of White Oak Global Advisors, LLC:

It has been a challenging and unpredictable year for our customers around the world, and we’re proud to provide this essential CBILS funding to SMEs in the UK. As a company, White Oak has been funding UK businesses since 1986, and we look forward to continuing to support both large and small companies as they grow in 2021 and beyond.