Lloyds TSB Commercial Finance has introduced its team of asset based lending specialists to an audience of professional advisers at a reception in London.
Ted Ettershank, managing director of Lloyds TSB Commercial Finance Limited, addressed an audience of over 150 and reinforced Lloyds TSB Commercial Finance's position as the only clearing bank with the capability to grow its share of the asset based lending market. In the past 18 months, it has carried out 70 corporate finance transactions using asset based lending and Ted foresees even more activity during the coming year.
Ted went on to draw synergies between growing popularity of asset based lending in the UK, with that in the US where there has been a gradual shift away from traditional bank lending. Ted stated that the UK is following the trends seen in the US, where over 71% of all lending to the middle market is made up of alternative lending products such as asset based lending.
