Tower leases exceed £200 million in total accounts receivable
Tower Leasing, a UK-based asset finance provider, has announced its total accounts receivable exceeding £200 million through its own book lending.
According to a press release, the achievement marks a key moment in the evolution of tower leasing from traditional financial brokers to fully integrated hybrid funders. Since launching its direct funding capabilities in 2013, the company has steadily increased its share of contracts funded through its own book, which accounts for a large part of its current business.
“This number represents more than just financial success. It’s a testament to the resilience and dedication of the team over the past 30 years,” said Kerry Howells, CEO of Tower Leasing. She added that the launch of direct lending in 2013 was a pivotal step in shaping the company’s current model.
Tower’s growth strategy includes the introduction of Tower Extra, a unique tool that enables investments in technology and infrastructure, particularly real-time proposal tracking and credit automation, which, according to the company, “has significantly improved the fundraising experience” for brokers, vendors and end customers.
The institutional partnerships also strengthen the company’s funding capabilities. Tower has secured a total of £117.5 million in capital facilities, including £46.75 million from. Enables British Business Bank funding Programme, £25 million and £50 million integrated wholesale financing agreement from UK business investments Conister Bank.
“We’ve always been focused on growing sustainably and building something that continues,” Howells said, but he also believes in long-standing vendor relationships about their role in the expansion of the company.
Founded in 1989 and headquartered in Bracknell, Berkshire, Tower Lease specializes in vendor-led customer-based small business finance.
“Tower Lease Over £200 million in Total Accounts Receivable” was originally created and published Lifetime leasea brand owned by GlobalData.
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