The asset finance lender reported strong growth across the UK as it doubled the total amount lent in the North and experienced a 92% increase in the number of deals going live in the Midlands.

Praetura saw hire purchase and lease options continue to command a strong proportion of its loan book, however, lending on refinance deals increased by more than two and a half times.

•   P2P lender breaks funding record
•   Octopus Property breaks record with £80m month
•   Roma strengthens bridging team after record months

“The growth we’re experiencing proves the way that Praetura works, in partnership with our brokers, is what SMEs up and down the country need,” said Mike Hartley, managing director of Praetura Asset Finance (pictured above).  

“We are people, dealing with people, not a faceless institution judging with a tick-box, credit-scoring mentality.” 

Mike added that the asset finance market as a whole was making an increasingly significant contribution to enabling small- and medium-sized businesses in the UK realise their full potential.

The lender also revealed that its expanding business development team in the South contributed to a 38% growth in the number of cases in that area.

“Praetura has already grown from a business that started with seven staff, to one with over 25 skilled specialists,” added Mike. 

“And we’re not stopping there.

“We have tripled our business development team in the South already this year and are bringing in a dedicated Scottish sales team too.”