Praetura posts record growth in 201723/01/2018
Praetura Asset Finance experienced record growth in 2017, with a 23 pct increase in lending and a 9 pct increase in the number of cases year on year.
Lending totals rose across all funding products offered, including a 26 pct rise in hire purchase facilities. There was also a surge in the amount of businesses being assisted by asset refinance, with the number of cases increasing by almost a third.
Regional highlights included growth of more than 50 pct in asset finance funding in the South and the Midlands. Last year, more brokers and business finance advisers worked with Praetura than in any previous year.
While haulage, construction and vehicle hire continue to command a strong proportion of Praetura’s book, 2017 saw the range of industries utilising asset finance expand, including triple digit growth in the amount lent to businesses in the arts and entertainment industry.
Mike Hartley, managing director at Praetura Asset Finance, said, "When we established Praetura just a few short years ago, we were very clear about what we wanted to do; which was to put the focus back on the SMEs we were providing funding for. And it’s working! As a ‘consultant-lender’, we’re not just here to tick boxes, press buttons and finance assets, we’re here to understand, to comprehend and to finance solutions which will enable business to grow.