The SME funder reported a year-on-year increase of 50% in own book lending, with receivables currently standing at £77m.
Meanwhile, Henry Howard’s asset-based lending divisions paid out more than £57m of funding during the last six months.
The announcement comes after Henry Howard sold its cash flow division to Advantedge Commercial Finance.
- Henry Howard Cashflow Finance acquired
- City of London Group aims to complete £50m of SME loans
- iwoca announces profitability
The lender plans to use the sale to enable further growth and investment within its asset finance, retail finance and vendor finance businesses.
“We have a great customer franchise, assisting SMEs of all sizes to fund business-critical equipment,” said Mark Catton, CEO at Henry Howard Finance Group (pictured above).
“We also enjoy fantastic relationships with our many hundred vendor partners.
“We continue to invest in our technology platform, which is highly rated by our vendors and allows credit decisions and documentation in minutes.
“We are also investing heavily in our funder platform and capabilities, backed and supported by the British Business Bank.”
Leave a comment