New Aldermore finance proposition to be backed by a dedicated construction finance team
The finance proposition will help address the challenges faced by construction businesses – such as growth, innovation and operational efficiency – and offers solutions to switch to more sustainable working practices.
Aldermore will fund a wide range of assets from the smallest excavator up to the most complex, structured, multi-asset transactions.
The specialist construction finance team will comprise:
- Chris Smith, head of specialist equipment, oversees the team and looks to continually develop the business proposition.
- Paul Morse, business development manager, specialist equipment.
- Jon Burrell, business development manager, specialist equipment.
- Tin Lau, Derri Skip, Sarah Rampton and Christina Montoya have also joined the team as Sales Analysts to enhance customer service and relationship management capabilities, streamlining processes and facilitating seamless interactions with clients.
Lee Rhodes, commercial director of asset finance at Aldermore said: “The construction sector is one of the largest in the UK economy, employing over 9% of the UK workforce(1).
“The sector is fundamental to our economy and will play an important role as we invest in our future, whether that’s building the homes we live in, or the schools and hospitals we rely on.
“These businesses have shown their resilience throughout the pandemic and many of them are now looking to invest in and grow their business. Our research(2) shows that construction SMEs plan to invest on average £119,114 in growth strategies over the next 12 months.
“Yet access to finance can be significant barrier to growth, as cited by one in five construction SMEs, so we are delighted to be expanding in this space, to better support businesses in their growth ambitions as they help level up the UK.”
References
- Policy paper, Construction Sector Deal, Gov.uk
- Research conducted by Opinium on behalf of Aldermore between 3 – 15 February 2023 of 1,000 SME Senior Decision Makers.
