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Praetura Asset Finance Group has increased its securitisation funding facility with NatWest, from £75m to £100m.
The agreement will allow the two companies in the group, Praetura Asset Finance in Blackburn and Kingsway Finance in Cheshire, to increase its funding capacity available to SMEs.
This news follows record figures across the whole of the Praetura Group in 2021, with the lending division’s loan book growing to more than £200m, with ambitions to increase that to over £300m in 2022.
Peadar O’Reilly, managing director of the Praetura lending division, said: “This is another milestone in the development of PAF Group and Praetura’s lending division, and an integral step in helping the group drive the ambitious growth plans we have in place for 2022 and beyond.
"SMEs are increasingly turning to lenders who are able to offer greater empathy and flexibility to their funding decisions, something Praetura has offered since its inception."
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