Bira bank celebrates 60 years of supporting independent retailers next month, coinciding with record levels of lending to independent retailers.
The only trade association-owned bank in the country, bira bank specialises in finance for members of the British Independent Retailers Association (bira).
The association says its members are continuing to experience growth, with a year-on-year sales increase of 2.35% revealed by bira’s latest quarterly survey of independent retailers from a number of different sectors.
Frank Burton of bira bank said: “Thanks to members, bira bank has continued to go from strength to strength, recording a turnover of over £1million in June, on the back of unprecedented growth in equipment loans.
“This is the second time turnover has gone over the £1million barrier this year and I believe this is testament to the service provided to members, who are paramount in all we do. I’m delighted that members are turning to us as their first port of call.”
bira bank is aiming for another record-breaking year after introducing new member-only services such as mortgages. It has teamed up with The Mortgage Broker Ltd (TMBL) to offer members free tailored advice and access to exclusive mortgage deals which will help those looking to expand their premises.
John Collins, managing director of bira bank, said: “This is a real first for bira bank and it’s something that our members have been asking about for some time. So we’re thrilled that we are now able to offer a mortgage service.”
He added: “There have been some tough economic times in our 60-year history. But we’re proud to have weathered the storms and emerged stronger than ever. It’s our privilege to serve independent retailers and offer support where other banks have failed to do so.”