Independent asset finance provider Praetura Asset Finance, based in the North West, said 2019 has been “its most successful year ever”.
The company has not yet released details sums for 2019 but has provided year-on-year percentages against 2018. Praetura’s most recent figures on Companies House are for the full-year 2018.
In a statement, Praetura said in 2019 it wrote more deals, provided more funding and worked in partnership with more brokers than it has done ever before. This included:
26% increase in the number of deals done.
27% rise in the total amount of funding.
47% more brokers working in partnership with Praetura.
The company also witnessed growth in five out of the six regions of the UK, included:
57% increase in the level of funding for SMEs in the Midlands.
84% growth in the number of deals done for SMEs in the South of England.
Product highlights and people
Refinance was the second most popular product provided by Praetura Asset Finance (a position previously held by finance leasing), behind hire purchase.
Year-on-year the number of deals grew by 36% and the amount of funding given via this changing rose by 65%.
To maximise its growth potential Praetura said it has made new appointments to its sales team.
The company is doubling its business development resource for brokers in the South of England, with the additions of Dan Sellwood, previously at EFT Finance (and Liberty Leasing before that) and Alexander Fowler, who joins following three years at Amicus Asset Finance. Craig Thomas also began working for Praetua in December 2019 as a business development manager in the company’s new specialist print division.
Mike Hartley, managing director at Praetura Asset Finance, said: “2019 was a phenomenal year for us, there were lots of new things; a new corporate headquarters, new branding and a new multi-million-pound funding line, to name just a few.
“We are helping more SMEs across the country and providing more funding than we ever have before, proving that asset finance ‘The Praetura Way’ is a resource that adds value to each and every business with whom we’ve worked in partnership.”
Praetura Asset Finance was founded in 2013. The company’s head office is located at Ewood House, Walker Park, Walker Road, Blackburn, BB1 2QE.