£25m funding line for asset based lender Haydock

A COMMERCIAL vehicle and asset finance specialist has agreed a new £25m funding line with a major lender.

Blackburn-based Haydock Finance, a family owned independent provider of asset  and commercial vehicle finance with a £50m lending book, will be able to offer extra facilities to customers after the three-year revolving facility with RBS.

Haydock, which was founded by Jon Wilkinson in 1980, was initially a motor finance provider but has evolved over the years into one of the largest independent finance companies in the country and operates nationwide through a selected panel of approved finance brokers.
 
The funding deal will alllow it to write more business for new hire purchase, leasing and refinancing proposals.  

Debt structuring was undertaken by Nick Parkhouse, Michael Murray and Jordan Blakesley from the RBS Speciality Finance Team with local relationship management provided by David Clarke and Carl Brian.

Michael Murray, associate director in the financial institutions group at RBS said: “Haydock Finance is a fantastic example of a family run UK business that is providing support to other businesses, particularly SMEs. The company is now in a great position to grow even further.”

Marcus Grimshaw, chairman of the National Association of Commercial Finance Brokers, added: “We are delighted to see the completion of this transaction between two members of the NACFB which can only further serve the needs of UK SMEs.”