Record year for Praetura Asset Finance
East Lancashire Chamber member and independent asset finance funder, Praetura Asset Finance has posted record-breaking Q1 figures for the fifth consecutive year.
The total amount lent rose by 30%, which included a rise in hire purchase finance of more than a third and a 62% 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 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 very newsworthy start to 2019 for Blackburn based, 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; 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.
“It is unquestionable that, as a country, we are living in times of tremendous uncertainty, but it is in such times, that consistency is key. The principles on which Praetura Asset Finance was built have never wavered; we will always endeavour to add value to every transaction we handle and we will always put the needs of the clients first. This will never change.
“I am very proud of the team of knowledgeable professionals we have assembled and the exceptional relationships we have with our partner brokers and introducers. We have exceeded the expectations we set down at the beginning of this journey and are now looking forward to taking Praetura Asset Finance to the next level; continuing to do what we always have done, but much, much more”.