The start of 2017 has seen Praetura Asset Finance record our most successful Q1 ever. The number of SMEs across the UK helped by PAF funding has risen by 17%, as more businesses take advantage of the options that asset finance can make available, to support growth and stability.
The total amount lent rose by 35% with strong growth across all regions of the UK. Highlights include more than doubling the total amount lent in the North and a 92% increase in the number of deals going live in the Midlands. Praetura’s growing business development team in the South also contributed to a 38% surge in the number of cases in that area.
Although the options of hire purchase and lease continue to command a strong proportion of Praetura’s book, lending on re-finance deals has increased by more than two and a half times, with a 56% increase in the number of businesses using this tool, compared with the same period in 2016.
The record figures are testament to the success of Praetura’s client-focused approach to lending, and the emphasis their dedicated team of experts place on understanding the needs of the businesses they are helping.
Mike Hartley, managing director at Praetura Asset Finance (www.praeturaaf.com) said: “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. We are people, dealing with people, not a faceless institution judging with a tick-box credit scoring mentality.
“The asset finance market as a whole is making an increasingly significant contribution to enabling small and medium sized businesses in this country realise their full potential. The advantages of utilising the resources of a ’consultant-lender’ such as Praetura, can only enhance that further.
“Praetura has already grown from a business that started with seven staff, to one with over 25 skilled specialists. 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”.
Anyone wanting to find out more about the solutions asset finance can offer to businesses, can speak to the experts at Praetura Asset Finance by calling 0333 323 7830 or visiting www.praeturaaf.com.
Analysis based on Q1 2016 and Q1 2017 sales statistics for Praetura Asset Finance.