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White Oak UK, one of the UK's largest alternative providers of SME finance, has opened a new office in Glasgow as part of its expansion plans.

The move from its site in Stewarton, Ayrshire, follows a record year for the company as it passed £1 billion in lending.

The Glasgow office, managed by Derek Money (pictured), head of Glasgow sales, joins other White Oak UK offices in Manchester, Southampton, London and its head office in Ewloe, North Wales.

Previously known as LDF, White Oak UK was acquired by White Oak Global Advisors in June last year and rebranded in July.

As part of its expansion plans, 12 new staff have joined the company, with further hires expected throughout the year.

Peter Alderson, managing director of White Oak UK, said: “In 2018, White Oak UK arranged funding of approximately £520 million in advances giving thousands of businesses across the UK access to simple, unbureaucratic business finance solutions.

“The opening of our new office in Glasgow represents a significant milestone for White Oak UK in its objective to help businesses thrive while providing the highest levels of service and solutions. Our geographic footprint perfectly reflects our commitment to financing businesses across the UK with key offices in Wales, England and Scotland.”