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White Oak, one of the UK’s leading non-bank lenders supporting SMEs and mid-corporates, has today announced it is strengthening its executive team in the UK with the appointment of a new Chief Operating Officer and Chief Financial Officer.
Melinda Crocker has been appointed Chief Operating Officer after spending over four years at the firm as its Head of UK Portfolio Management. In her new role, she will oversee operational strategy across all of White Oak’s UK business lines. Melinda brings 30 years of financial services experience to the role, including senior banking roles managing analytics, project delivery and product design.
Pawel Lo Giudice has been appointed as Chief Financial Officer, following almost two decades of experience in senior positions at global consultancy firms in the UK and Australia, where he specialised in deal advisory services. In his new role, Pawel will oversee White Oak’s UK financial strategy, driving the firm’s commitment to support SME’s and mid-corporates across the country with tailored finance solutions to help them grow.
The two new additions to White Oak’s senior team come as the firm targets its biggest year for growth yet, following a record 2022. The lender recently pledged to provide half a billion pounds to UK SMEs and mid-corporates over 2023, as part of its commitment to help firms up and down the country fulfil their ambitions.
Melinda Crocker, Chief Operating Officer of White Oak UK said, “Since joining White Oak four years ago, I’ve been impressed by the ethos that drives the business and the wide breadth of support we provide to firms. I’m looking forward to pushing our vision for growth in my new role and putting strategies in place to ensure we can support our growth ambitions.”
Pawel Lo Giudice, Chief Financial Officer of White Oak UK said, “I’m excited to build upon White Oak’s growing momentum. In a challenging year for businesses up and down the country, White Oak’s finance solutions have helped their clients to thrive, and I’m delighted to be part of a firm which is focused on the growth ambitions of SMEs in the UK.”
Jean-Marc Torre, CEO of White Oak UK, said, “I am delighted that Melinda and Pawel are joining our executive leadership team. With Melinda’s outstanding portfolio management experience and Pawel’s deep knowledge of corporate finance, we will continue to improve the agility required to grow in the current landscape and better provide capital financing solutions to our customers.”
White Oak, one of the UK’s leading non-bank lenders, has provided recycling specialist Glazewing with a £712,000 asset-backed finance facility to support the purchase of new, efficiency boosting equipment upgrades, to help the business meet increasing demand.
As one of the leading metal recyclers in the East of England, Glazewing collects and disposes of unwanted metal, including end-of-life vehicles and scrap from demolition sites, which it then recycles and sells to customers in the UK and overseas.
The asset finance package provided by White Oak has enabled Glazewing to acquire two Liebherr LH40 17m machines – the world’s first in that specification – which enables quicker container loading for export, whilst reducing fuel consumption. The new machinery will enable the business to increase its loading capability by 20%, in line with a recent uplift in demand for its scrap metal product.
Having partnered with White Oak for over a year, Glazewing is already targeting further growth in 2023, with an additional £1m credit line facility in the pipeline to enable the business to ramp up its commercial vehicle and machinery upgrade plans.
This funding package rounds off a strong year for White Oak, which lent £465m over the course of 2022, a record that the firm plans to expand on after pledging £500m to support SME business growth in 2023. White Oak provides support to SMEs and mid-corporates through a range of funding options, including asset finance, invoice finance and working capital loans across all sectors and regions in the UK. The construction sector made up 15% of the firm’s portfolio in 2022, assisting companies like Glazewing with their growth plans.
Jason Minns, Director at Glazewing Limited commented: “With an uplift in demand for our recycling services, it was vital to be equipped with more efficient machinery to enable us to process metal at a faster and more energy efficient rate. Investing in new machinery gives us the capacity to recycle more metal and make our processes even more efficient for customers, and we already have exciting plans underway in the new year to help us further expand our business.”
Andy Davies, Director of Sales at White Oak commented: “In partnering with Glazewing, we have been able to provide tailored funding solutions so the business can pursue its ambitious expansion strategy. For Glazewing, this latest funding facility and the £1m in hire purchase facility earmarked for 2023 will give the business the firepower it needs to drive its growth plans. We are committed to backing companies like Glazewing in 2023 and beyond – believing in the strong underlying potential of UK SMEs, despite economic headwinds.”
- This follows a record year for White Oak UK, which lent £465m in 2022
- Last year saw 2000 new customers partner with lender, a 20% uplift year-on-year
[Chester 18 January] White Oak UK (“White Oak” and “the firm”), one of the UK’s leading non-bank lenders, has pledged to provide £500m to UK SMEs and mid-corporates in 2023, as it continues to support the growth plans of small and medium sized firms across the UK.
The pledge follows the firm delivering a record £465m of funding in 2022; businesses in London and the South East had the greatest demand for funding (32%), closely followed by the North of England (20%) and Scotland (15%).
White Oak supports businesses with a range of funding products to suit their financing needs. Tax lending – including VAT finance – assisted 1,300 clients with the spread of the cost of their tax bill over 12 months and reached a value of £200m over the year, with the firm able to approve 90% of professional customers who applied for loans. Asset based lending meanwhile reached £175m, accounting for 40% of total White Oak loans. The firm is looking to target tax lending of £225m and asset based lending of £200m through 2023.
White Oak data from 2022 shows that the professional services sector saw the largest funding allocation, reaching a total of £110m, which equates to 25% of White Oak’s lending book for the year, followed by the construction sector, reaching £65m, which is 15% of the firm’s annual lending total.
White Oak UK, an affiliate of White Oak Global Advisors, LLC, provides business loans, asset finance and asset-based lending solutions to help drive growth for SMEs and mid-corporates in the UK; through 2022, the firm attracted over 2,000 new clients.
Jean-Marc Torre, CEO of White Oak UK, said: “Despite economic headwinds, 2022 showed that there is demand for capital from businesses, which remain laser-focused on their long-term growth plans. Time and time again, SMEs and mid-corporates have showed that they are resilient and agile and with the right support, we expect UK firms will be well-positioned to push forward with their expansion plans which is why we’re upping our lending totals for this year.”
Andy Davies, Managing Director of White Oak Leases & Loans, said: “Our 2022 lending figures show a strong spread of uptake for growth capital across all sectors and regions of the UK, from both existing and new clients. While some funding partners pull back support in more testing economic times, we are well-positioned to be able to provide flexible solutions to fuel the growth plans of businesses, which is why we’re pledging to provide half a billion to firms up and down the country in 2023.”
White Oak, one of the UK’s leading non-bank lenders, has announced it has provided over £125m of funding to UK SMEs and mid-corporates during Q3, a record for the firm. It includes a remarkably strong September, which saw White Oak place £44m on their own book. This brings its total value funded year to date to £280m.
Professional services (29%), construction (14%) and administrative and support services (12%) were the sectors driving most of the demand for capital in the third quarter of the year.
White Oak, which has an own book value in excess of £500m, also provided a record £30m in asset finance lending in Q3, with firms in administrative and support service activities (21%) and construction (19%) showing the most appetite to invest for growth.
The £125m allocated in Q3 was used to support SMEs and mid-corporates across all UK regions, with the highest volume of lending activity in London (16%), Scotland (14%) and the North-East (13%).
The firm, an affiliate of White Oak Global Advisors, provides business loans, asset finance and asset-based lending solutions to help drive growth for SMEs and mid-corporates across the UK.
Jean-Marc Torre, CEO of White Oak in the UK, said: “When navigating a more challenging economic backdrop, businesses will often put the brakes on investing in their operations in favour of sitting tight with the hope brighter times are ahead. However, often it’s those that double down in more testing times that achieve great things. The robust growth plans we are seeing amongst our lending book is a testament to how resilient UK businesses really are, and we are committed to supporting them through their growth journey whatever the weather.”
Andy Davies, Managing Director of White Oak Leases & Loans, said: “It’s heartening to see a strong appetite from SMEs and mid-corporates looking to access capital to fuel their growth plans, in spite of operating in a challenging economy. What makes White Oak different is our ability to be nimble and support our clients’ needs quickly and effectively, and our Q3 results show we are committed to doing just that.”
– Independent lender White Oak has announced that it is moving its UK headquarters to Chester in a move that demonstrates its commitment to the North West region and a return to office-based work
-White Oak plans to hire up to 40 additional staff this year from the local talent pool across Chester, Manchester, and Liverpool
24 August 2021, Chester: Independent business lender, White Oak has announced its move to a 15,000+ sq ft. office in Chester city centre to accommodate its continued growth both in the region and across the UK. The 10-year lease reaffirms White Oak’s commitment to the North West as their home with a hiring drive taking place across the coming months.
The new office space on the 2nd Floor of the landmark HQ building has been fully refurbished to a very high specification and has views across the historic City of Chester and Chester Racecourse. Crucially, the new space houses all departments together on the same floor, creating a highly vibrant and dynamic working environment, allowing staff to collaborate more effectively.
As Covid-19 restrictions continue to ease amidst the UK’s successful vaccination programme, the new office move demonstrates White Oak’s long-standing commitment to office-based work as their permanent model. The move creates a highly dynamic, energetic, and professional environment best suited to supporting White Oak employees old and new, whilst delivering outstanding service for current and new clients.
White Oak is enhancing its strong local community partnerships including a student programme with the University of Chester, Chester Aid to the Homeless and a continuing partnership with Chester Racecourse. The new office and increased staff numbers will allow White Oak to strengthen ties with the community with a focus on those who have struggled as a result of the pandemic.
White Oak have offices in London, Glasgow and Southampton, and the move will mean that the company will be able to continue to support businesses around the country to grow whilst cementing its presence in the North West. The company is one of the largest employers in Chester, with access to a valuable talent pool in the areas of Chester, Manchester, and Liverpool. White Oak plans to hire an additional 40 professionals in 2021.
White Oak is highly supportive of local businesses in the region having announced earlier this year that it had committed £40 million to businesses in the North West as well as supporting businesses throughout the UK during the Covid-19 pandemic by providing almost £400 million in Government-backed CBILS loans. Businesses in the North West benefited from receiving over £55 million from White Oak in CBILS lending.
James Felton, Chief Operating Officer of White Oak Europe, said:
“The new office move to HQ, Chester is a major statement of intent for White Oak’s continued growth and evolution. The relocation to Chester reaffirms our commitment to the North West as our home where we can continue to support our customers in the region and across the UK.
The move brings all our colleagues together helping to foster stronger working relationships and to deliver a highly interconnected and efficient service for our customers. The move also celebrates the recent successes of White Oak in doubling its lending to UK SMEs since the start of 2020 and looks to the future with space to accommodate a significant hiring initiative which will see up to 40 new staff join the business in the coming months.”
Councillor Richard Beacham, Cheshire West and Chester Council’s Cabinet Member for Inclusive Growth, Economy & Regeneration said:
“Cheshire West and Chester Council is investing in Chester to make it an even better place to live, work, learn and visit. This announcement that White Oak is relocating here is great news for our city and we hope that other businesses in the city will feel the benefit of having another large employer in the town centre.
This move has been aided by our Business Growth Team, so other businesses looking for support with relocation or staffing for example can contact them for advice too.”
Will Sadler, Director at Property Consultancy Legat Owen, the retained agent for HQ Chester, said:
“HQ Chester provided White Oak with the opportunity to have all of its team together in one space and be in the heart of Chester. It is encouraging to see businesses thriving and bringing a significant number of jobs to the city.”
-Independent business lender White Oak has allocated £276 million in lending to sectors and regions across the UK
-The funding is available to businesses through traditional business loans and asset finance
-White Oak is one of the UK’s largest non-bank lenders and provided close to £400 million via the Government-backed CBILS scheme
White Oak has announced it has allocated £275 million in lending to sectors and regions around the country as it looks to spur the economic recovery of SMEs
The lending will be available to businesses via a number of products offered by White Oak, including business loans and asset finance solutions
The specific sector allocations are targeted at a number of the areas that White Oak is most active in, including £60 million to UK solicitors, as well as:
– £25 million to the construction industry
– £20 million to support services sector
-£20 million to manufacturers
-£15 million to accountancy firms
White Oak benefits from national coverage with almost 200 UK-based professionals spread across offices in London, Glasgow, Southampton, Manchester and Ewloe in Wales. The lender has committed regional lending allocations to London and North West with £40 million being ring-fenced for each region individually. White Oak has additionally allocated:
-£35 million to the Midlands
-£30 million to the South East
-£30 million to Scotland
-£20 million to the South West
– £20 million to Yorkshrie
-£10 million to Wales
White Oak has been committed to supporting businesses throughout the challenging Covid-19 pandemic and has provided £396.6 million in Government-backed CBILS loans to over 2,200 businesses. The lenders loan book also recently passed the milestone of £500 million for the year so far
Andy Davies, Managing Director of White Oak Leases & Loans, said:
“We are very proud of the role we’ve played in supporting businesses across the UK through what has been the most challenging period in modern times. As we look towards a brighter future, it is important that small businesses continue to receive the funding they need. These lending allocations will allow us to provide vital capital support and ensure that small businesses can grow and drive the UK’s economic recovery.”
Andre A Hakkak , Chief Executive Officer and Co-Founder of White Oak Global Advisors, LLC:
“Across the globe, our clients are looking now looking to the future as the world economy continues to recover. We are proud to have provided critical support to UK SMEs throughout the pandemic and with these lending allocations we look forward to continuing our partnerships with SMEs as they contribute to the UK’s economic recovery.”
– Independent business lender White Oak has provided £396.6m to UK SMEs via the scheme
– Demand for CBILS loans soared as the scheme came to an end with £80m in CBILS paid out in April and May
– Record demand overall saw White Oak’s 2021 loan book reach £500m
21 June 2021, London: Independent business lender White Oak has announced that it successfully provided £396.6m through the Coronavirus Business Interruption Loan Scheme (CBILS) to support UK SMEs through the pandemic. Demand for CBILS was strong right until the 31st March application deadline with White Oak paying out £80m in CBILS across April and May
Record demand across all products has seen White Oak’s 2021 loan book reach £500m for the first time, capping off a strong year for White Oak which has seen record lending figures. 31st March was White Oak’s highest day of lending on record with £9m provided from its own book whilst March alone saw record monthly figures, with £70m in lending provided to 724 SMEs
Since White Oak was accredited under CBILS in May last year, the lender has provided tailored finance solutions for over 2,200 businesses with loans paid out ranging from £75,000 to £750,000. These businesses are spread across a range of sectors with £109.2m going to the construction and manufacturing sectors, White Oaks’ most active sector. Solicitors also received over £56.5 million with more than £38.3m going to retailers and wholesalers
With offices in London, Glasgow, Southampton, Manchester and Ewloe in Wales, White Oak benefits from national coverage and has supported businesses around the country with CBILS loans. White Oak provided over £315m of support to businesses outside of London with the most, £55.9m going to companies in the North-West. Similarly, companies in the Midlands received £53.5m in support. Other regional allocations included: £52.3m to companies in the South-East; £23.4m to companies in the South-West; and £23.6m to companies in Scotland
Andy Davies, Managing Director of White Oak Leases & Loans, said:
“We are very pleased to have been able to provide essential support to businesses across the UK as they weathered the challenging environment brought on by the pandemic. With the UK’s economy beginning to recover, we are confident that this record lending will help SMEs around the country to drive the economic recovery. We are also looking forward to increasing support for SMEs as they continue to finance business growth through asset finance and other lending products.”
Andre A Hakkak , Chief Executive Officer and Co-Founder of White Oak Global Advisors, LLC:
“Undoubtedly, it has been a challenging time for our customers around the world, and we’re proud to have provided this crucial CBILS funding to SMEs around the UK. As a firm, we have supported UK businesses for over 30 years, and we look forward to continuing our partnerships with businesses across the country.”
Natasha will take the lead on managing the firm’s regulatory compliance risk framework as part of White Oak’s commitment to regulatory excellence. The role will involve identifying, assessing, and reporting on risks; providing oversight and challenge to the business’s execution and adherence to its regulatory obligations; and managing the firms ongoing relationship the UK Financial Conduct Authority.
With over 15 years’ experience in financial compliance and regulatory roles, Natasha is a key hire which strengthens the future of the company. Most recently Natasha headed up her own compliance consultancy firm advising European hedge funds, asset managers and prime brokerage firms on effective compliance strategy and framework implementation. Prior to working as a consultant, Natasha spent 10 years in senior compliance roles at RBS, Schroders and Barclays Capital. She also worked as a European regulatory policy expert at the Financial Services Authority now the Financial Conduct Authority.
Natasha Powell, Director of Risk & Compliance at White Oak Europe, said:
“Since working with White Oak last summer, I have been constantly impressed with the competency and attitude across the whole business, and the commitment to doing the right thing for the customer. In particular, White Oak’s wide range of products enable the firm to work alongside its customers to provide the most effective lending solutions tailored to each customer’s specific circumstances and needs.”
Andy Davies, Managing Director of White Oak Leases & Loans, said:
“We are delighted with the appointment of Natasha. At White Oak we believe that treating customers fairly is at the heart of our culture and practices. Over the last year, we have attracted over 1,000 new customers through our highly successful CBILS programme which provided £315m of funding to the UK economy. As these businesses begin to recover from the pandemic, they will need further support and White Oak is launching several new product initiatives in order to support, including asset finance, invoice finance, office refurbishment loans in additional to its full suite of working capital solutions.”
Independent business lender White Oak has announced record monthly lending figures in March, with £70m lending provided to 724 SMEs across the country, including £58m provided from its own book. 31 March was White Oak’s highest day of lending ever with £9m lent from its own book.
The record month capped off a strong Q1 for White Oak as it passed £161m total lending to businesses, including £130m from its own book. The strong figures throughout the quarter were boosted by soaring demand for CBILS loans as the scheme came to a close on 31 March.
White Oak’s fast and flexible funding has allowed it to partner with over 1,500 businesses throughout Q1 across a wide range of sectors, including:
- £44m to companies in the construction and manufacturing sectors
- £35m to solicitors and business support services
- £13m to retailers and wholesalers
With offices in London, Glasgow, Southampton, Manchester and Ewloe in Wales, White Oak benefits from national coverage and has supported businesses around the country in Q1, including:
- £21m to companies in the North West
- £3m to companies in the North East
- £25m to companies in the South East
- £10m to companies in the South West
- £22m to companies in the Midlands
- £16m to companies in Scotland
After being accredited as a CBILS lender in May 2020, White Oak lent over £325m to 1,593 businesses under the terms of the scheme, with loans paid out from £75,000 to £750,000. White Oak’s CBILS lending allocation was increased by the British Business Bank at the start of March, which offered increased capacity to support SMEs up to the end of the scheme.
Andy Davies, Managing Director of White Oak Leases & Loans, said:
We are very pleased to have been able to provide this essential support to businesses as they weathered a difficult quarter and continuing pandemic restrictions. With the UK’s economy set to bounce back over the coming months, we are confident that this record lending will help SMEs around the country to drive the economic recovery as restrictions are eased.
Andre A. Hakkak, Chief Executive Officer and Co-Founder of White Oak Global Advisors, LLC:
Our customers around the world are looking positively towards recovery this year, and we’re proud to have provided this critical funding to SMEs across the UK as they begin to gear up for the economic rebound. As a company, White Oak has supported UK businesses since 1986, and we look forward to continuing our partnerships with large and small companies as they look to future growth.
White Oak Leases & Loans has announced that it is strengthening its executive team in the UK with the hires of a Chief Risk Officer and Chief Credit Officer. The appointments see the lender build on the recent success which has seen £315 million in CBILS loans provided to SMEs across the UK.
Nick Isaacs has been hired as Chief Risk Officer of White Oak Leases & Loans and is responsible for the implementation and execution of lending strategies as well as sharing oversight over credit policies. He brings over 20 years’ experience having held senior roles at multinational and fintech lenders, most recently as Chief Credit Risk Officer at Future Finance.
Chris Heeley has been appointed as Chief Credit Officer. Chris is a White Oak Leases & Loans veteran having been involved in the business since 1999 and progressing through the ranks holding multiple roles across the credit function. Chris has been instrumental in the delivery of the CBILS programme and in his new role will oversee the credit function including its lending division, external funder support and internal underwriters.
With offices in London, Glasgow, Southampton, Manchester and Ewloe in Wales, White Oak benefits from national coverage. White Oak has almost 200 UK-based professionals who have approved loans for SMEs and mid-sized corporates around country with 80% lent to SMEs outside of London.
Nick Isaacs, Chief Risk Officer of White Oak Leases & Loans said:
In the time I’ve been at White Oak I’ve been impressed with the quality of teams across the UK dedicated to providing fast solutions to businesses with as much flexibility as possible. It’s exciting to be a part of that as we look at the lending strategy for what remains a challenging period for the UK’s SME community.
Chris Heeley, Chief Credit Officer of White Oak Leases & Loans said:
I’ve been at White Oak for over 20 years and remain committed to delivering the support our clients need to thrive. In the past 12 months we’ve come up against the most significant challenges the sector has ever faced, and I’ve been proud of the team’s ability to respond to quickly to get support to clients.
Andy Davies, Managing Director of White Oak Leases & Loans, said:
It’s great to be able to have both Nick and Chris in senior roles at White Oak and I’m confident that both will contribute to the bright future of the business. We are committed to supporting SMEs and trust is key to delivering that, which is what both appointments bring.
Independent business lender White Oak has now provided over £270m in CBILS support to UK SMEs through the pandemic.
Independent business lender White Oak has announced that it has successfully provided over £270m through the Coronavirus Business Interruption Loan Scheme (CBILS)to support UK SMEs through the pandemic.
The milestone comes as the British Business Bank increased White Oak’s lending allocation under the terms of the scheme, allowing it to continue supporting UK SMEs up to the application deadline on 31st March.
Delivered through British Business Bank accredited lenders, CBILS is designed to support the continued provision of finance to UK smaller businesses (SMEs) during the Covid-19 outbreak. The scheme enables lenders to provide facilities of up to £5m to smaller businesses across the UK who are experiencing lost or deferred revenues, leading to disruptions to their cashflow.
Since White Oak was accredited under CBILS in May 2020, it has provided tailored finance solutions for over 1,350 businesses with loans paid out from £75,000 to £750,000.
White Oak’s fast and flexible funding has allowed it to partner with a wide range of businesses including:
£73m to companies in the construction and manufacturing sectors
£64m to solicitors and business support services
£27m to retailers and wholesalers
Under the CBILS scheme, interest is covered by the Government for 12 months, and White Oak customers can additionally benefit from a payment holiday of up to 12 months. As businesses look ahead to recovery in 2021, White Oak’s CBILS offering is designed to enable business to recover from the crisis and look towards financial growth without the immediate burden of repayments.
With offices in London, Glasgow, Southampton, Manchester and Ewloe in Wales, White Oak benefits from national coverage. White Oak has almost 200 UK-based professionals who have approved loans for SMEs and mid-sized corporates around country with 80% lent to SMEs outside of London.
Andy Davies, Managing Director of White Oak Leases & Loans, said:
Over the past year, we are very pleased to have been able to provide essential support to businesses across the UK as they weathered the challenging environment brought on by the pandemic. With the UK’s economy set to bounce back this year, we believe that this increase in our lending allocation will not only allow us to continue providing a lifeline for businesses but also help them to grow and thrive.
Andre A. Hakkak, Chief Executive Officer and Co-Founder of White Oak Global Advisors, LLC:
It has been a difficult time for our customers around the world, and we’re proud to have provided this critical CBILS funding to SMEs across the UK. As a company, White Oak has supported UK businesses since 1986, and we look forward to continuing our partnerships with large and small companies as they endure the adversity of the pandemic and look to future growth.
The milestone has been reached for the first time in the independent lender’s history.
White Oak has marked the milestone with a donation to its charity partner, School of Hard Knocks which delivers life changing programmes to children and adults using rugby, boxing and one-to-one and group mentoring sessions.
Independent business lender White Oak has today announced it has hit a loan book of £250,000,000 for the first time in the lender’s history. This marks a significant milestone for the Loans & Leases business with the lender distributing over £120 million of loans to SMEs since its accreditation to the Government’s Coronavirus Business Interruption Loan Scheme (CBILS) in May.
White Oak has marked the occasion with a £5,000 donation to School of Hard Knocks, the lender’s chosen charity partner which delivers life changing programmes to children and adults using high impact sport and mentoring. White Oak’s donation will go towards SOHK’s schools programme in Scotland and will enable to charity to reach ten more children who need support and each child will receive group and one-to-one mentoring alongside tailored rugby sessions for an entire year.
White Oak has an office in Glasgow and has also distributed over £5.5 million in CBILS loans to Scottish firms over the course of the coronavirus pandemic. With other offices in London Southampton, Manchester and Ewloe in Wales, White Oak benefits from national coverage, and its 100+ origination force has approved loans for SMEs and mid-sized corporates around the country with 79% lent to SMEs outside of London.
White Oak provides business loans, equipment finance and asset-based lending solutions to SMEs and mid-corporate clients across the UK. Since the company was accredited as a CBILS lender it has quickly mobilised to support 580 businesses with loans paid out from £75,000 to £750,000, with the ability to lend up to £5m.
White Oak is set to continue providing valuable support to SMEs and mid-sized corporates through the crisis, with ambitions to lend the full £180m before the scheme closes for new applicants on 31st January 2021.
Andy Davies, Managing Director of Leases & Loans at White Oak UK, said:
We are also pleased to have passed this milestone and this reflects the dedication the team has shown our clients. We are always looking to support businesses that can drive our economy back to growth and are very happy that as a CBILS-accredited lender we have been able to do that.
We are so proud to also be able to give something back and support the fantastic work of the School of Hard Knocks and we are looking forward to continuing this partnership.
Rosa Innes, Director of Programmes for Scotland at SOHK, said:
SOHK’s values of teamwork, commitment, and integrity reflect those of White Oak’s and their work. On top of White Oak’s pledge to allocate funds to SOHK for every deal they broker, the company has done some brilliant in-house fundraising that has enabled SOHK to reach more individuals who need support – now more than ever. We are thrilled to have had the support of White Oak over this past year. These types of partnerships are integral to School of Hard Knocks’ work. We always strive to work with organisations and businesses that share our vision and goals so that we can work together to bring about lasting change.”
We are pleased to announce that White Oak UK has been awarded ‘Best Service from an Asset Based Finance Provider’ at this year’s Business Moneyfacts Awards.
The business was first nominated in 2014 for our service to customers and has received a series of ‘highly commended’ commendations in recent years, this was the first outright win for White Oak UK.
The process, driven entirely by votes over an 8-week period, follows White Oak UK’s Platinum Trusted Service status received by independent review site, Feefo, earlier in the year.
White Oak UK’s Managing Director of Leases and Loans, Andy Davies said:
“This win means a lot to the business and is testament to our ongoing commitment to delivering first class customer service, something we believe defines White Oak UK with our customers”.
This top service win follows White Oak UK’s Platinum Trusted Service status received by independent review site, Feefo, earlier in the year.
Supported by the NACFB, UK Finance and the Forum of Private Businesses, Business Moneyfacts is one the most prestigious awards of its type, recognising the efforts of finance companies and brokers over the last 12-months in offering consistently competitive products, delivered the best levels of service and shown the greatest innovation in the business and commercial finance world.
Lee Tillcock, Editor of Business Moneyfacts, said:
“All the finalists of this year’s Business Moneyfacts Awards have continued to offer value, choice and innovation across the commercial finance sector. A combination of methods helped decide on the final positions, and events of the last few months should in no way deter from the achievements of the past year, with hard work rightly celebrated.
“The finalists and eventual winners at this year’s awards should be rightly proud of their achievements and have offered a range of products and services that have best supported the sector, at a time when its success and growth remains vital.”
The Coronavirus Business Interruption Loan Scheme, delivered through lenders accredited by the British Business Bank, is designed to support the continued provision of finance to UK smaller businesses (SMEs) during the Covid-19 outbreak. The scheme enables lenders to provide facilities from £50,001 to £5m for businesses across the UK who are experiencing lost or deferred revenues, leading to disruptions to their cashflow.
It supports a wide range of business finance products, including term loans, overdrafts, invoice finance and asset finance facilities.
Update: We are now accepting applications for CBILS loans from White Oak UK. Check your eligiblity and apply now here.
Depending on your business’s size and turnover, you’ll be able to access loans of up to £5 million through White Oak UK, with a range of payment options available to customers. Businesses will pay no interest or lender levied fees for the first 12 months of the loan.
Andy Davies, Managing Director of Lease and Loan at White Oak UK said:
“White Oak UK has always worked hard to understand the financial challenges faced by small and medium sized businesses, and to deliver solutions to meet these head on. We’ve built our business on the provision of fast and effective funding, and our CBILS offering is no different.
“Customers applying for CBILS loans through White Oak UK can expect us to deliver as we always have done, working to ensure that customers get the service they need to keep their businesses moving during these difficult times. We’d urge any businesses thinking about a CBILS loan to get in touch and discuss how we can help.”
Our online eligibility checker allows business owners to check core CBILS eligibility and give an indication on whether your application is likely to be successful.
As news of the global outbreak of novel Coronavirus (COVID-19) continues to unfold, we wanted to take this opportunity to share the steps that White Oak UK is taking to maintain our commitment to customers, partners, brokers, and importantly, to protect the health and safety of our employees.
UPDATE: White Oak UK are now accredited on the Coronavirus Business Interruption Loan Scheme. Find out more here.
Over the last few weeks and days, we, like you, have been closely watching developments unfold, both in the UK and abroad with increasing concern.
This is unchartered territory for all of us; however, we believe that a measured and coordinated approach to this new, challenging reality is critical as we begin to navigate the coming weeks and months.
We remain very much ‘open for business’
Our business is built on ensuring that UK small and medium-sized businesses have access to the funding they need, when they need it.
We remain committed to providing a strong level of availability and maintaining business as usual to the best of our abilities.
We continue to operate smoothly, while keeping our people safe
We have been stress-testing our systems and technologies diligently over the last 2 weeks to ensure we are able to both maintain business continuity and to ensure that we can provide a continued, effective level of service and we are confident that we can.
We are taking ongoing guidance from trusted sources and are committed to keeping our people safe. Many of our teams are now operating from home and we will continue to scale this over the coming days, helping to achieve the social distancing that authorities believe is so critical to slowing the spread of the virus. Rest assured however, you can contact us via the same channels and in the same ways you always have.
We know things are changing and fast and we will evolve our approach as warranted to ensure that we can confidently support businesses with the right access to funding as we move forward.
Andy Davies
Managing Director – Lease & Loan
We work with thousands of small businesses every year and we’re proud to have been rated as a Feefo Gold Trusted Service provider for the last three years. This year however, we’ve gone one better and we’re thrilled to announce White Oak UK have been recognised with their highest accolade – the all-new Platinum Trusted Service status!
Introduced for the first time this year, the Platinum Trusted Service award recognises those businesses that go above and beyond to consistently provide excellent service.
To qualify for Platinum status a company must have received Feefo’s Gold Trusted Service status* for three or more consecutive years.
Carl D’Ammassa, Chief Executive UK & Ireland at White Oak, said:
“We are exceptionally proud that since we started asking our customers to rate our service, back in 2015, we’ve maintained a 4.9 out of 5-star rating with Feefo and as a business based on developing lasting and trusted partnerships with our customers, providing a first-class experience is vital to us.
“The fact that this award comes directly from our customers feedback makes it even more special to us.
“It is testament to the hard work our employees put in every day to consistently deliver the best service possible, something we believe sets us apart.”
The importance of online reviews
There are three key reasons that underline the importance of online reviews to businesses:
- Improved customer service. Listening to what your customers say about you, good and bad helps you embrace development.
- Increased credibility and social proof. Potential customers like to know someone else has had a good experience before making an important decision on whether to use a service or brand.
- Review sites are becoming more commonplace. According to Feefo’s Consumer report 2019, 96% of people read or use reviews in some way before making a purchase or selecting a service. It’s an essential part of the decision process across multiple sectors.
Can you trust reviews?
In a lot of cases, the answer is no! As well as being a forum for honest reviews, some sites are open to non-customer reviews which can reduce their validity. At White Oak UK, we choose to work with Feefo, an independent reviews provider, to ensure our reviews are the real opinions of real businesses.
Feefo are committed to collecting legitimate customer feedback on our behalf.
To prevent people from leaving dishonest or fake reviews, Feefo contact customers directly following their experience with us and invite them to leave a review. That review, whether good or bad, is then uploaded to the White Oak UK Feefo page for all to see.
You can find all our latest reviews here.
A big thank you
Being a successful recipient of the Feefo Platinum Trusted Service Award is only possible thanks to all the many thousands of customers who have reviewed and rated our service over the last 5-years and for that, we are exceptionally grateful.
*To qualify for Gold Trusted Service each year, a company must have collected at least 50 reviews between January 1st and December 31st in 2017, 2018 and 2019, and achieved a Feefo service rating of at least 4.5 out of 5.
The 15th annual European Leasing Life Conference & Awards took place at the Hyatt Sofia in Barcelona on Thursday 28th November, bringing together a broad cohort of key decision makers across the worlds of asset finance, leasing, banks, technology and law firms.
Top of the discussion agenda at the conference itself was inspired digitisation, asset lifecycles and a service-led approach, following a view that banks and financial institutions across Europe continue to wrestle with the challenge of “re-defining the conventional role and perception” of leasing and finance.
Indeed, the takeaway message was a need to adapt and thrive in a digital age has never been more important for the finance industry.
The day-long event culminated with the Leasing Life Awards, celebrating the “very best in the industry” across 12 unique categories, in which White Oak UK was shortlisted.
On the night, we were ecstatic to be recognised as winners of the SME Champion (UK) award, an accolade that we believe is testament to our continued focus on providing small and medium sized businesses across the UK with access to fast, effective finance solutions, for a multitude of evolving needs.
In an environment where more and more small businesses are struggling to access the funds they need to sustain, invest and grow.
Commenting on the win, White Oak UK CEO, Carl D’Ammassa said:
“I’m delighted and incredibly proud that the business has been recognised as SME Champion (UK). Ensuring access to finance for SME’s in a continually challenging environment, where they remain largely underserved is something we remain committed to.
“Our focus on developing and delivering the best solutions and experiences for our small business clients is key to our success. This is a great accolade for the business.”
The 15th annual European Leasing Life Conference & Awards took place at the Hyatt Sofia in Barcelona on Thursday 28th November, bringing together a broad cohort of key decision makers across the worlds of asset finance, leasing, banks, technology and law firms.
Top of the discussion agenda at the conference itself was inspired digitisation, asset lifecycles and a service-led approach, following a view that banks and financial institutions across Europe continue to wrestle with the challenge of “re-defining the conventional role and perception” of leasing and finance.
Indeed, the takeaway message was a need to adapt and thrive in a digital age has never been more important for the finance industry.
The day-long event culminated with the Leasing Life Awards, celebrating the “very best in the industry” across 12 unique categories, in which White Oak UK was shortlisted.
On the night, we were ecstatic to be recognised as winners of the SME Champion (UK) award, an accolade that we believe is testament to our continued focus on providing small and medium sized businesses across the UK with access to fast, effective finance solutions, for a multitude of evolving needs.
In an environment where more and more small businesses are struggling to access the funds they need to sustain, invest and grow.
Commenting on the win, White Oak UK CEO, Carl D’Ammassa said:
“I’m delighted and incredibly proud that the business has been recognised as SME Champion (UK). Ensuring access to finance for SME’s in a continually challenging environment, where they remain largely underserved is something we remain committed to.
“Our focus on developing and delivering the best solutions and experiences for our small business clients is key to our success. This is a great accolade for the business.”