Amicus Asset Finance has reached an agreement with its senior debt providers to grow its book to over £50m in the next 12 months.
Amicus Asset Finance said it enjoyed excellent support from its bankers and senior debt providers and its very active introducer network.
Robert Keep – managing director Amicus Asset Finance Group said: “This further reinforces our commitment to the asset finance and business loan market following our return to private ownership. We look forward to a great year in 2019 with committed funding allowing us to support our SME customers. We have strong appetite to write transactions with SME’s in the value range of £50k to £2m”. Amicus Asset Finance does asset finance through hire purchase and leasing and secured business loans.
Amicus Asset Finance Group has entered back into private ownership after three years under the ownership of Amicus Finance.
Recently Amicus Finance said it had suspended new property lending, but Amicus Asset Finance said it had significant capital available to lend, and to develop its business.
Amicus Asset Finance issues asset finance through hire purchase and leasing and secured business loans.
In 2015, short term UK loan provider Amicus Finance acquired London-based brokerage, Norton Folgate Capital Group Limited, including Norton Folgate Capital Consulting LLP.
Amicus, previously known as Capital Bridging Finance, secured an initial stake of 75% in Norton Folgate Capital Consulting LLP with the remaining 25% being held by the incumbent partners.
Norton Folgate then rebranded to Amicus Asset Finance in December 2016 and appointed Jeremy Guilfoyle as its chief operating officer.
Founded in 1996, Norton Folgate’s ownership has changed hands and been developed several times since 2007. Originally sold by Robert Keep to General Capital in 2007, Norton Folgate was bought back by Keep in 2009. The business then grew into wider asset finance provision, before Keep set up the limited partnership in 2011. Norton then underwent a management equity stake buy-in in 2013, admitting five of his executive team into the partnership.