Praetura Asset Finance has posted results of another record-breaking Q1, as the business goes from strength to strength.
A stand-out statistic is the growth of the number of SMEs using the tool of refinance, to either expand or stabilise their business. The number of completed cases grew by a third, with the funding provided increasing by 54pct year-on-year.
The total amount lent rose by 16pct, with strong growth across the UK. Highlights include double digit growth in the number of deals going live in the Midlands and Scotland and more than tripling the levels of funding provided in the South.
The variety of businesses now utilising asset finance as a funding source continues to diversify and the list of assets being funded gets longer. In the first quarter of 2018, alongside the ‘usual’ plant, machinery and vehicles, Praetura provided funding for classic cars and motorcycles, fairground rides and even an antique steam engine.
Mike Hartley, managing director at Praetura Asset Finance (www.praeturaaf.com) said: “Once again, we’re posting record-breaking numbers, which is testament to the service we offer, in partnership with our supporting brokers.
“We are a ‘consultant lender’ whose job is to listen and advise, then make decisions based upon understanding and experience. This can make a big difference to the businesses we are funding.
“Praetura was founded on firm principles: the needs of the SMEs must always come first!”
Praetura posts record growth in 2017 - 23/01/2018
Praetura promotes Simmons - 09/01/2018
Praetura performs strongly in Q1 - 06/04/2017
Praetura in £36m boost - 13/09/2016