"White Oak and Spotcap will now work on a mutual referral basis, recommending each other to support a larger number of businesses."
White Oak UK’s offering includes asset finance, commercial mortgages and business finance, while Spotcap provides unsecured business loans without the need for a personal guarantee.
Keen to expand their offering, White Oak and Spotcap will now work on a referral basis when being contacted by businesses directly.
Kevin Vendel, head of sales at Spotcap, commented: “UK businesses need access to the right funding to thrive. But with so many different solutions out there, that can be challenging. If one lender doesn’t have the right solution, why not establish a partnership with another one to compliment the offering?”
Chris Heeley, credit director at White Oak UK, added: “As the relationship with Spotcap progresses, I’m certain that we will continue to work together to maximise the opportunities and facilities available to further build on the foundations we have already laid in respect of supporting UK SMEs.”
