Around this time last year we were offering a select range of loan products that covered VAT & Tax obligations as well as regulatory fees and Insurance products specific to the legal sector. These products were only available through a small network of professions specific brokers but we quickly demonstrated to these providers that UTB had a product which will work for them and their customers. All of this was backed up by the Bank’s long standing reputation as a specialist lender which provides exceptional service and value for money through our valued partner network. Since then we’ve expanded our product range, the availability of our services and opened up our policy to accept many different types of clients.
Within the past year we have also launched our working capital facilities to all professional firms allowing them to continue to invest in case work by spreading the costs of their disbursements over the duration of the case. We’ve also launched our longer term funding to the sector which enables them to invest in their business to improve efficiency, increase their fee earners, invest in digital technology, improve marketing and distribution…the list goes on and on. One thing’s for sure, these firms are still struggling to obtain appropriate funding support from their existing bankers and continue to seek out specialist brokers and trusted advisors to introduce them to institutions such as UTB. We’re providing facilities from 3 to 36 months to all types of professional bodies for a wide range of borrowing purposes.
Most recently we’ve extended our offering to the medical sector which has been just as well received as our initial products for the paper professions. We’ve financed dentist chairs, refurbishment of vets reception and treatment rooms, partnership tax for a whole range of medical businesses and funded the conversion of a loft so that a GP practice could increase the number of treatment rooms for their nurses.
