Liberty Leasing has increased its block discounting facility with United Trust Bank (UTB) by £3m, bringing the total to £10m.

The enlarged facility will allow the independent lender to extend its support for small and medium-sized businesses across sectors such as construction, engineering, transport, agriculture and printing.

The Hampshire-based asset finance company said the additional funding will help more UK firms secure tailored finance solutions. Unlike many lenders, Liberty Leasing retains full control over its lending decisions, enabling it to consider each application on its individual merits through a human-led underwriting approach.

UTB launched its block discounting activities in 2024 to provide funding to non-bank lenders that do not have access to retail deposits.

The specialist bank has since developed relationships with a number of independent asset finance providers funding lease, hire purchase and loan contracts.

Alan Cooper, finance director at Liberty Leasing, said: “We’re delighted to announce an increase in our United Trust Bank block discounting facility to £10m.

“UTB has supported us since early 2024 with our provision of asset finance to UK SMEs, providing them with much needed asset finance to grow their businesses.

“We believe that this additional facility will enable us to further extend our support of British industry by providing asset finance to even more SMEs across the UK.”

Julian Mellors (pictured), head of wholesale financing at United Trust Bank, added: “We’re very pleased to augment our block discounting facility for Liberty Leasing, one of the leading independent asset finance companies in the UK.

“Liberty has been active in supporting UK SMEs for many years, and we’re keen to support independent finance providers like Liberty with the sources of funding they require to operate.”