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Aldermore to open a bank in Reading
NEW UK lender Aldermore will open another office to fuel its rapid expansion.
The new facility in Reading will enable the bank to roll out its operations providing SMEs with funds to invest in business assets.
The bank has gone from 24 staff to 300 in its first year of trading, in which time it has provided a total of £300m of funding to SMEs.
Chief executive Phillip Monks said: “Our asset finance team is having a great deal of success and that is partly because SMEs do want to invest in their businesses.
“We are getting a lot of creditworthy, well resourced companies looking for financing to grow either because their banks just can’t lend to SMEs or they don’t want to lend to SMEs.”