Over the past 12 months Aldermore has agreed over £200m of new invoice finance facilities to companies across the country.

To support this, the bank has hired a dedicated and experienced team of senior business development and relationship managers.

The new team has focused on building strong and long lasting relationships, which are enabling the bank to provide funding into the private equity, acquisitions, back-to-back funding, asset based lending and specialist finance spaces, resonating with the advisory community.

In 2017 Aldermore supported businesses that required increasingly larger and more complex funding solutions ranging from £50,000 to £13m.

Aldermore’s Future Attitudes study found that 35% of SMEs now say that their business is financed through alternative forms of finance. Despite this, not all businesses can access the funding they need, with 23% missing out on at least one new opportunity in the last year.

Chris Meldrum, national business development director at Aldermore, said: “Reaching this milestone is testament to the work we are doing in providing alternative finance options to businesses across the UK.

“Getting the right people in place and building trust amongst our customers and intermediaries has enabled us to also offer increased funding to larger businesses.

“Through our expertise and the quality and consistency of service we can provide, we are making real headway in our core markets. We have a reputation for innovative and bespoke funding solutions. It is important that we continue to innovate and ensure that firms of all sizes across the UK are able to access vital funding.”