Tower Leasing, an asset finance provider in the UK, has announced that it has exceeded £ 200 million in gross receivables by its own book borrowing, a large milestone that the company says it reflects “over a decade of strategic transformation and ongoing growth.”
According to a press release, the achievement marks a key moment in the evolution of Tower Leasing from a traditional finance broker into a fully integrated hybrid cashier. Since the launch of its direct funding capacity in 2013, the company has increased the proportion of gradually funded agreements through its own book, which now includes the majority of its business.
“This number represents more than financial success, it is a testament to the resilience and dedication of our team over the last 30 years,” said Kerry Howells, CEO of Tower Leasing. He added that the launch of the 2013 direct borrowing was a central step in producing the company's current model.
Tower's growth strategy has included investments in technology and infrastructure, in particular the introduction of Tower Extra, a proprietary tool that allows real -time motion tracking and credit automation, and has “significantly improved the funding experience” for brokers, vendors, and final customers, according to the company.
Institutional partnerships have also strengthened the company's funding capabilities. Tower has secured a total of £ 121.75 million in capital facilities, including £ 46.75 million from British Business Bank Enabling Finance Program, £ 25 million from British Business Investments, and a £ 50 million integrated wholesale funding agreement with Conister bank.
“We have always continued to focus on growing sustainably and building something that lasts,” said Howells, while also crediting long -standing seller relationships for their role in expanding the company.
Founded in 1989 and headquartered at Bracknell, Berkshire, Tower Leasing specializes in direct SME finance-under seller guidance.
“Tower leasing exceeded £ 200m in gross receivables” was originally created and published by Leasing lifeBrand owned by Globaldata.
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