Praetura Asset Finance has lent £20m since it was established in January 2014.

The company said the majority of business came from construction, manufacturing and print sectors, though it also offers finance for planet, equipment and vehicles.

According to Mike Hartley, managing director of Praetura Asset Finance, the £20m figure was far in excess of the company’s first year target.

He said: “Businesses are keen to capitalise on the surge in opportunities that they are now experiencing. However, some may lack the capital they need to invest in their business in order to expand and compete in a fast paced  marketplace.”

“Our model is different to that of many of our competitors, because we not only advise clients on the best funding option to meet their needs, but we also take a much more pragmatic approach to assessing their assets and balance sheet holistically, rather than focusing on profit and loss columns alone.”