UK asset-based lending (ABL) specialist Leumi ABL has provided leasing business Compass Business Finance with a £20m revolving facility as it eyes further expansion.

The facility is a flexible revolving funding structure that gives Compass the ability to grow its loan book and preserve cash as it scales. 

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The bespoke solution “bridges the gap” between a revolving facility and a wholesale funding structure, according to Leumi ABL, which specialises in structured ABL facilities up to £100m. 

Leumi ABL’s “consultative approach” and ability to structure a bespoke funding solution were critical to completing the transaction, along with its ability to fund loan agreements backed by government guarantee schemes, it said.

Compass provides finance solutions to the print and packaging, engineering, construction professions and renewables industries.

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“As we continue to broaden our reach across established and emerging sectors, this funding enables us to increase support for customers seeking flexible, competitive finance solutions to invest in their businesses,” said Mark Nelson, director of Compass Business Finance. “We were looking for a funding partner that understood both where Compass is today and where we want to be tomorrow, and Leumi ABL’s bespoke approach delivered exactly that. This partnership positions us to accelerate growth while continuing to put our customers at the heart of everything we do.”

“The bespoke revolving structure provides the flexibility to underpin the business’s future ambitions and demonstrates Leumi ABL’s ability to provide specialist funding solutions that evolve alongside our clients’ ambitions,” added Ryan Whitworth, head of London, sales team at Leumi ABL.

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