(Manchester/Blackburn-based) Praetura Asset Finance has expanded into Northern Ireland after joining forces with two financial organisations.
Launched in January 2014 (with offices in Manchester and Blackburn and operating nationally,) Praetura offers funding options to assist with cash flow and is the first truly independently-owned asset finance company to enter the market for 15 years.
Praetura has selected Hanna Financial Services as its Northern Ireland partner and will be working with the firm to provide bespoke funding solutions to help businesses release capital for business investment and growth, or to assist with cash flow challenges.
Managing director, Mike Hartley, was previously managing director of One Business Finance (part of Close Brothers) and has worked in the asset finance sector for 25 years. He said: “Our goal is to set a new benchmark for a service-driven, added value solution with a will-do ethos.
“With a combined experience of more than 200 years, we saw a gap in the market to launch our service in Northern Ireland, which is in the midst of economic growth and crying out for flexible funding options that aren’t available from banks.”
Praetura works with brokers, corporate financiers, auditors and turnaround specialists to provide a bespoke financing solution based on an individual customer’s needs.
Offering specific expertise in a range of sectors, including construction & plant, engineering, printing, transport, waste & recycling and agriculture, Praetura understands market pressures, seasonal and cyclical fluctuations and current trends.
The firm can often provide finance for companies that have been unsuccessful elsewhere by unlocking the value of assets in a business.
Mike continues: “It’s all about a tailored service; we find out what the customer wants to achieve and work back from there to assess the most viable and advantageous finance package for them. For us it’s all about seeing the business case for growth, not the raw figures on a balance sheet.”
Alister Hanna, from Belfast-based Hanna Financial Services, added: “It is fantastic to see such an innovative company entering the Broker Market in Northern Ireland.”
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.
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