IFA announces partnership with White Oak to offer SME finance support
The Institute of Financial Accountants (IFA) has announced a new partnership to provide capital support for SMEs. The leading professional accountancy membership body has partnered with White Oak, one of the largest FCA regulated non-bank lenders in the UK.
The innovative agreement will enable IFA members - SME accountants - to support their clients with access to non-traditional routes of funding through White Oak’s diverse portfolio of lending products. These flexible solutions will support all aspects of SMEs’ finance needs in excess of £25,000, providing VAT, tax and working capital loans, asset and invoice finance, as well as asset-based lending.
John Edwards, CEO and Group Executive International of the Institute of Financial Accountants (IFA) said: “SMEs often struggle to secure lending via banks, so it’s important to have access to the right expertise they need through an alternative, recognised lender. Accounting practitioners who support SMEs are great advisers to businesses and need to be able to direct to alternative options, where their clients seek or require funding.
“Our new partnership with White Oak will provide members with a raft of support, advice and alternative options geared towards their clients’ specific financing requirements. Leveraging White Oak’s industry experience, stemming back almost 40 years, means we are highlighting our commitment to provide the very best support and guidance to our members, frequently tailoring policies and recommendations to meet the unique challenges and trading relationships associated with smaller business.”
He continued: “This partnership underpins our core values created to continuously meet the needs of SMEs within the UK and throughout the international market by offering a range of relevant and innovative services and benefits that have been specifically chosen as part of our focus on supporting our members within the SME/SMP sector.”
Christian Elson, Head of Strategic Origination Partnerships at White Oak UK said: “We are pleased to be partnering with the IFA and look forward to supporting even more SMEs with fast and flexible funding solutions. In uncertain times like these, SMEs need support more than ever. While other lenders have started to pull back, at White Oak, we’re committed to helping businesses fuel their ambition and reach their full growth potential, even in testing times.
“Working closely with the IFA will help us to deepen our partnerships with expert accountants across the country so they can bolster their service offering to clients and we can reach even more businesses with tailored solutions to suit their specific financing needs. We’re primed to support the IFA’s client base with the funding
they need to thrive and look forward to continuing to drive growth for small businesses nationwide.”
About the IFA
The IFA is part of the Institute of Public Accountants (IPA) Group, the world’s largest SME-focused accountancy group, with more than 49,000 members and students in 100 countries. It is a full member of the International Federation of Accountants (IFAC) the global accounting standard-setter and regulator.
About White Oak UK
White Oak is a leading lending platform, authorised and regulated by the Financial Conduct Authority which provides capital to support SMEs and mid-corporates through an extensive suite of flexible lending solutions - including commercial loans, asset finance and invoice financing. Founded in 1986 and headquartered in Chester, UK, White Oak’s team of 170 supports over 20,000 businesses with their financing needs and holds a 4.9 Star rating on Feefo. White Oak is an affiliate of White Oak Global Advisors, a debt manager providing financing solutions for SMEs. Together with its affiliates, White Oak Global Advisors has deployed $10billion across product lines. More information can be found at https://whiteoakeurope.com.
About White Oak Global Advisors
White Oak Global Advisors, LLC (“WOGA”) is a leading alternative debt manager specializing in originating and providing financing solutions to support small and middle market enterprises at every stage of their lifecycle. WOGA and its financing affiliates optimize capital structure based on available assets and cash flow and provide over twenty lending products to the market that include term, asset-based, and equipment loans. Since its inception in 2007, WOGA and its affiliates have deployed over $10 billion across its product lines, utilizing a hands-on, disciplined investment process that focuses on delivering risk-adjusted investment returns to investors, while establishing long-term partnerships with its borrowers. More information can be found at www.whiteoaksf.com.