Alex Read

Portman originates funding for 550 businesses in three months

Portman Asset Finance has announced that it secured £30m in originated funding for 550 businesses over the last three months.

The Northampton-based commercial finance business specialises in helping businesses to fund big projects or acquire infrastructure to facilitate growth.

Alongside doubling the amount of originated funding secured for businesses during the same period in 2017 (£15m), Portman has almost doubled the size of its workforce in the last year and now employs 55 members of staff.

Alex Read, chairman at Portman Asset Finance (pictured above), said it was delighted by the growth of the company over the past 12 months and that the figures reflected the hard work of its growing team.

“The hospitality and leisure sectors in particular continue to thrive and it’s been tremendous to witness the drive in openings from many of our franchise-model business partners, such as Boost Trampoline Parks and Triple Two Coffee outlets.

“It’s particularly encouraging to see business owners realising the benefits of low lending rates at a time [when] others might be a bit more cautious in their decision making.”

Portman also announced plans to further increase the size of its team in 2019 as it aimed to work closer with its partner businesses and lenders, while diversifying into new industries and sectors.

“In the next year, we expect more success and further growth as we continue to develop both our direct and vendor channels,” added Alex.

“Our focus will turn to the recruitment of quality talent from across the region, which may recognise the need for a larger office to house our growing team.

“We also have plans in the pipeline for a number of new products and added distribution channels, with more of a focus to support our deserving charity partners.”

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