Lloyds Bank Commercial Banking has launched a dedicated UK broker team to increase the volume of new lending to businesses.
The nationwide team of invoice finance specialists will be dedicated to serving commercial finance brokers and their clients and it will be overseen by head of broker channel Karl Leitelmayer.
It comes following a rise in demand from brokers since the bank launched its new invoice finance commission structure in 2017.
Brokers who refer their clients to Lloyds Bank can now receive a 40% share of the invoice finance service fee for the lifetime of the bank’s relationship with the client.
Since the new proposition was launched, the number of broker deals completed by Lloyds Bank has more than doubled.
Leitelmayer, who was previously East Midlands and East England area director for global transaction banking, SME at Lloyds Bank, will report directly to national sales director Andrew Charnley.
He will work closely with Claire Boswell, who leads the direct sales team and the newly-created, Manchester-based broker support team that provides dedicated operational support to Lloyds’ broker network. Boswell also reports directly into Charnley.
Leitelmayer said: “The intermediary market is growing at pace and we need to make sure that we are aligned to how our clients are reviewing their funding requirements.
“This dedicated team of invoice finance specialists, spread across the length and breadth of the UK, will help us deliver this while enhancing the level of service we can provide our clients.”
Charnley said: “Since we brought our broker proposition to market last year, we’ve seen a significant rise in demand and strong feedback from brokers and clients alike. This new channel will allow this momentum to continue and help us build our wider broker offering moving forward.”