North west lender Praetura Asset Finance has posted record-breaking Q1 figures for the fifth consecutive year.
The total amount lent rose by 30 per cent, which included a rise in hire purchase finance of more than a third and a 62 per cent surge 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 SMEs in the south of England and a rise of 68 per cent and 63 per cent respectively in funding provided to companies in the Midlands and the North of England.
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These results come on the back of a very newsworthy start to 2019 for Praetura Asset Finance; 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 expanded too, 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 news comes as Praetura launches a new product aimed at the bus and coach industry.
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Based in Manchester, Praetura Direct Finance will help firms find the right funding for their vehicles and equipment, as well as assisting with refinance for both consolidation and expansion purposes.
The new firm will be headed up by bus and coach finance specialists Guy Wadsworth, Scott Burke, Paul Ricci and Donna Street, who bring together extensive knowledge of the industry, having previously worked together at Mistral Group, where they were key players in the development of Mistral Asset Finance.
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