One of the UK’s leasing asset finance firms is throwing its weight behind a national campaign to raise the profile of SME lending in Britain.
Praetura Asset Finance is backing #LoveLending Week, which launches this week and acknowledges the importance of alternative finance in lieu of traditional support.
The lender, which launched in January 2014, has so far unlocked more than £20m in funding for SMEs across the UK and aims to double this figure to £40m over the next 12 months.
Mike Hartley, managing director of Praetura Asset Finance, said: “With the high street banks tightening their purse strings, SMEs need to realise that there are a number of alternative providers who want, and are willing to, lend.
“Asset finance has risen fivefold over the past decade and #LoveLending Week is the ideal opportunity to shout about the superb work we do in helping SMEs to get on and grow.
“Small businesses in particular are often deemed ‘too risky’ by most of the big lenders, just like they did with Sir James Dyson. Yet as the founder of a £1.2bn enterprise, it’s crucial that more lenders recognise the determination and drive of Britain’s army of entrepreneurs.”
#LoveLending Week is the brainchild of the NACFB (National Association of Commercial Finance Brokers) a UK trade body that champions finance for SMEs.
Marcus Grimshaw, charmain of the NACFB, added: “#LoveLending Week celebrates the fantastic work that independent brokers and lenders are doing across the country to help small businesses access finance. SMEs often struggle when it comes to securing funding, so it’s really important to spread the message of where local businesses can look for help.
“We want to generate awareness about the range of finance options on offer for businesses in the UK and encourage institutions to keep on lending!”
To get involved, follow the campaign on Twitter using the hashtag #LoveLending.
Praetura Asset Finance provides funding to SMEs via the refinancing or freeing up of equity from capital assets.
Praetura is the first independently-owned asset finance company to enter the UK marketplace for 15 years. As they’re not tied to a bank, Praetura are increasingly flexible and faster at sourcing funding compared to the major banks and finance houses.
With offices in Manchester and Blackburn, Praetura specialise in hire purchase finance, finance leasing and refinancing agreements between the value of £10,000 and £1m, helping businesses to invest in new equipment or fund expansion.
Established in January 2014, Praetura’s common sense approach, gained from an average 20 years’ experience per advisor, enables the firm to offer bespoke funding solutions.
For more information, visit: www.praeturaaf.co.uk.