Asset finance firm posts record figures for first quarter

Independent asset finance funder Praetura Asset Finance has posted record-breaking first quarter figures for the fifth consecutive year.

The total amount lent by the Blackburn based firm rose by 30%, which included a rise in hire purchase finance of more than a third and a 62% increase in the funding provided to SMEs, to facilitate consolidation or growth, through asset refinance.

Other highlights include more than doubling the number of deals going live for small and medium sized businesses in the south of England and a rise of 68% and 63% respectively in funding provided to companies in the Midlands and the North of England.

These results come on the back of a busy start to 2019 for the firm having also announced its first acquisition, new funding, new branding and a move to new headquarters in the first three months of this year.

The team has also expanded with two new appointments.

Gabriella Dandy joined as the company’s new financial controller in February and Kristina Bradley took up a newly created business analyst role in March.

Mike Hartley, managing director at Praetura Asset Finance, said: “These are exciting times at Praetura Asset Finance; we’re continuing to go from strength to strength and what we’ve seen in the first quarter of this year is surely a sign of things to come.”

The firm was founded in 2013, with a team of directors with over 100 years’ experience in the asset finance sector.