- OakNorth enters the trade finance asset class with a $25 million loan-on-loan facility to Trade Finance Partners (TFP), to support businesses trading across borders;
- The facility will support the continued scaling of TFP’s trade finance platform, while marking OakNorth’s expansion into specialist lending;
- TFP originates and structures short-term trade finance transactions across sectors, including energy, metals, and agriculture.
London, 25 March 2026: OakNorth, the digital bank for entrepreneurs, by entrepreneurs, has completed a $25 million loan-on-loan facility to Trade Finance Partners (TFP), marking its first transaction in the trade finance asset class.
The facility provides OakNorth with exposure to short-duration, asset-backed trade finance – an increasingly important segment within private credit – and will support the continued expansion of TFP’s lending activities.
The financing will be deployed across short-term trade payables transactions, supporting businesses in managing working capital and funding the movement of goods internationally.
Trade finance has attracted increasing institutional capital due to its short-term, self-liquidating structure and strong risk-adjusted returns. The transaction forms part of OakNorth’s broader strategy to expand into specialist lending verticals, building on its track record in the lower mid-market.
International law firm Reed Smith LLP acted as legal adviser on the transaction, while Aon advised on insurance structuring.
TFP is the independent credit platform that spun out from Trade Finance Global (TFG): a leading media, events, and data platform for cross-border trade with an origination network spanning over 1,000 financial institutions across 187 countries.
“We’re pleased to partner with OakNorth on this transaction,” said Robin Abrams, Chief Risk Officer at TFP. “There is growing institutional demand for short-duration, asset-backed exposure to global trade, and this facility reflects the increasing maturity of the market. We’ve built TFP to originate and structure these transactions at scale, and this partnership supports our continued expansion as we translate institutional capital into short-term trade finance across a growing range of global markets and trading businesses.”
Mohith Sondhi, Managing Director of Debt Finance at OakNorth, added: “This transaction marks OakNorth’s first loan-on-loan facility in the trade finance space, and an exciting milestone as we continue to expand into new specialist finance verticals. In an increasingly volatile global environment, access to flexible and reliable finance to support trade is more important than ever. TFG has built a highly differentiated platform at the intersection of technology, data, and trade finance, underpinned by a strong track record and disciplined underwriting approach. Combined with a fully insured structure and short-term, self-liquidating transactions, this represented a compelling opportunity for us. We see significant potential in this space and are excited to build on this momentum by supporting more platforms like TFP going forward.”
Patrick Sutton, Partner at Reed Smith, said: “It was a pleasure to advise OakNorth on this facility, particularly as it is their first trade finance transaction. It has been exciting to play a part in OakNorth’s and TFP’s continued success, and to demonstrate Reed Smith’s expertise at the intersection between trade finance, asset-backed lending, and private credit, which remains a key area of focus for us.”
Lloyd McTigue, Head of Client Partner Group at Aon, added: “We see a growing working capital need for payables, as this is an underserved area across our market. Having supported TFP on this journey, it’s exciting to see the origination and reach they have in making this a long-term, sustainable, and more importantly, scalable opportunity.”
ENDS
Notes to editors
About OakNorth Bank plc
Launched in September 2015, OakNorth is the bank for entrepreneurs, by entrepreneurs. It was founded to address the persistent funding gap facing lower mid-market businesses – a segment that accounts for a significant share of economic output yet remains underserved by traditional banks.
To date, OakNorth has provided over $20bn in lending to thousands of entrepreneur-led businesses across the UK and US, supporting the creation of more than 70,000 jobs and generating more than £40bn in economic value. Throughout multiple economic cycles, the bank has maintained a highly disciplined approach to credit, delivering performance metrics that place it among the top 1% of commercial banks globally.
It is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.
Learn more at www.oaknorth.co.uk
For press inquiries, please email: [email protected]
About Trade Finance Partners
Trade Finance Partners (TFP) provides payables finance and structured trade facilities to importers, exporters, and traders across OECD markets and Singapore. Partnering with institutional capital providers, TFP delivers reliable, transparent, and scalable working capital solutions that support real-economy trade. As an affiliate of Trade Finance Global (TFG), TFP bridges the gap between businesses and global sources of capital.
Learn more at www.tradefinancepartners.com
For press inquiries, please email: [email protected]
About Reed Smith
Reed Smith is a dynamic international law firm dedicated to helping clients move their businesses forward. With an inclusive culture and innovative mindset, we deliver smarter, more creative legal services that drive better outcomes for our clients. Our deep industry knowledge, long-standing relationships and collaborative structure make us the go-to partner for complex disputes, transactions, and regulatory matters.
Learn more at https://www.reedsmith.com
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About Aon
Aon plc (NYSE: AON) exists to shape decisions for the better – to protect and enrich the lives of people around the world. Through actionable analytic insight, globally integrated Risk Capital and Human Capital expertise, and locally relevant solutions, our colleagues provide clients in over 120 countries with the clarity and confidence to make better risk and people decisions that protect and grow their businesses.
Learn more at https://www.aon.com
For press inquiries, please email: [email protected]