Wesleyan Bank provided a £15 million ($19 million) asset finance facility to DND Finance.
The facility expands on the operating professions loan facility DND signed with Wesleyan Bank last year.
“I believe this speaks to Wesleyan Banks’ confidence in us and our ability to serve the SME marketplace. It will also now allow us to provide some fantastic asset finance solutions to the same marketplace,” said Reverend Dr. K. Bill Dost, group CEO of DND Finance.
Wesleyan Bank has more than 25 years of experience in the equipment finance and professional loans market. Entering the wholesale finance market is part of a series of “strategic initiatives to support the bank’s ambitious growth plans,” according to Sean Read, director of Operations at Wesleyan Bank.
Launched in 2000, DND Finance is a division of D&D Leasing UK, a multi-national finance company founded by Dost to fund the under-served SME arena in Canada. The company has provided financing in the UK across the business loan, vehicle, equipment finance and leasing markets. DND recently expanded into the charge card market, offering a Visa solution to both corporates and individuals.
Wesleyan Bank is a wholly owned subsidiary of Wesleyan Assurance Society.
