Aldermore is proud to announce the launch of its new finance proposition specifically tailored for the UK construction sector. The proposition will be backed by a dedicated team that bring a wealth of experience in the sector and will leverage our existing expertise whilst offering a refreshed customer experience.
The proposition aims to address the unique challenges faced by construction businesses in their pursuit of growth, innovation and operational efficiency and will offer solutions for businesses looking to switch to more sustainable working practices across the sector. Aldermore will fund a wide range of assets from the smallest excavator up to the most complex, structured, multi-asset transactions. This program will empower construction businesses to optimise their financial resources, fuel expansion and grow sensibly with a partner they can trust. Clients will also benefit from direct access to a dedicated point-of-contact within Aldermore’s sales team as well as an experienced in-house support team to ensure a simple and rapid route to funding.
Aldermore has made a number of strategic hires in recent months in anticipation of establishing this new team. Their specialist knowledge of the construction sector will support the bank’s growth in this market. The team will comprise:
Lee Rhodes, commercial director of asset finance at Aldermore said: “I am thrilled to have Chris, Paul, Jon and the rest of the team join to lead our new construction finance offering. The construction sector is one of the largest in the UK economy, employing over 9% of the UK workforce1. 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 research2 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.”
Aldermore will be launching their new construction proposition at Plantworx, the UK’s largest working construction equipment exhibition, from 13-15 June in Peterborough.
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1 Policy paper, Construction Sector Deal, Gov.uk
2Research conducted by Opinium on behalf of Aldermore between 3 – 15 February 2023 of 1,000 SME Senior Decision Makers
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