Factoring specialist Alex Lawrie and leading invoice discounting provider, Lloyds TSB Commercial Finance, are embarking on a new integrated business strategy.
The combined operation provides in excess of Ј750 million of working capital to more than 5,000 SMEs. In addition to this, they also claim to have the largest network of regional offices in the UK and that they are the largest single providers of factoring and invoice discounting in the UK, financing nearly Ј10 billion of sales annually.
The new single company, Lloyds TSB Commercial Finance Limited, will continue to operate under both brand names to ensure that their clients continue to recognise both brands and their relative “specialisms”. It is hoped that together the brands will have the flexibility to provide finance solutions throughout the lifecycle of a business.
Lloyds TSB Commercial Finance Ltd. will continue to operate as an independent division of the Lloyds TSB Group.