Carl D’Ammassa, Group Managing Director of Business Finance at Aldermore, said:
“It’s disappointing to hear that manufacturers are reluctant to turn to external finance when funding growth despite the majority of them being confident that they could secure the funds needed were they to apply for them. By shunning the banks in favour of drawing on their own savings, there is a danger that manufacturers will invest less in their businesses than they might otherwise have done, resulting in lower overall levels of investment within the industry.
“Manufacturers need to remember that not all banks are the same and the market for business finance is much more competitive than it used to be as a result of large numbers of recent new entrants. There are now a greater range of products for businesses to choose from, with many lenders offering more flexible funding options than we’ve seen in the past.”
For further information, journalists can contact:
Ian Burge, PR Manager
Phone: 020 3553 4292
Mobile: 07767 794956
Constanze Ullmann, Cicero Group
Phone: 020 7297 5978
Mobile: 07741 313 878
Aldermore Group PLC is a specialist lender and savings bank offering straightforward products to Small and Medium-sized Enterprises (SMEs), homeowners, landlords and individuals, who we believe are often poorly- or under-served by the wider market.
Aldermore has no branch network but serves customers and intermediary partners online, by phone and face to face through its network of regional offices located around the UK.
Building on its core values of being reliable, expert, dynamic and straightforward, Aldermore aims to deliver banking as it should be.
Established in 2009, Aldermore has grown significantly. At the end of March 2016, lending to customers stood at £6.5 billion and customer deposits totalled £6.2 billion.
For more information, please visit www.aldermore.co.uk.
Aldermore Bank PLC is an operating entity of Aldermore Group PLC. In March 2015, Aldermore Group PLC’s shares (ALD.L) listed on the Main Market of the London Stock Exchange.
Aldermore Bank PLC is regulated by the Prudential Regulation Authority and the Financial Conduct Authority and is registered under the Financial Services Compensation Scheme.