Challenger bank Metro Bank has provided Noumed Life Sciences with a £4.5 million asset finance facility to support the acquisition of new pharmaceutical manufacturing equipment.
In addition to the asset finance package, Metro Bank has also become the company’s full commercial banking provider.
Metro Bank finance will support Noumed’s production of pharmaceutical products to support the UK domestic market as well as exporting worldwide, including Australia.
Rajat Mehta, managing director at Noumed Life Sciences said: “Metro Bank applied a collaborative approach to our banking and funding requirements, which in today’s complex financial market is refreshing.
“Its friendly, approachable and ‘can do’ attitude meant the credit approval process was quick and we were able to complete the financing of our manufacturing machinery within the agreed timescales. We are very pleased with the smooth operation of our day-to-day banking services, and when we need assistance our named contacts are available to support us.”
Metro Bank’s asset finance team funds projects across UK industry including transportation, construction, waste management and manufacturing.
Mark Stokes (pictured), managing director of commercial banking at Metro Bank said: “By getting to know Noumed Life Sciences and the people behind it, we have been able to provide them with a bespoke asset finance and banking solution to meet their needs. We look forward to strengthening our partnership with the team over the years to come.”
