The challenger bank will now provide the household brand’s main financing facilities, replacing JML’s previous 10-year relationship with GE Finance.
The £15m asset-based lending transaction will combine a £12m invoice discounting line and a £3m stock facility.
“Since launching in 2011, Shawbrook Bank has gone from strength to strength, and our new agreement with a major brand such as JML is testament to this,” said Tim Hawkins, managing director of Shawbrook Bank.
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“I see our partnership being an important component of an exciting future for both Shawbrook and JML.”
JML sells products in many retail chains in the UK and Ireland and is renowned for its TV advertising as it also runs its own 24-hour TV home shopping channel.
The company exports to distributors in over 80 countries and Ken Daly, CEO of JML (pictured above), said it had very ambitious growth plans, making the move to Shawbrook a good cultural fit.
“JML has a strategic plan to double the size of its business over the next three years.
“Shawbrook will be instrumental in helping us to achieve this.
“We are [very much] looking forward to working together and are confident that this will be an excellent partnership.”
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