The group lent over £200m in the 12-month period to 31^st December 2017.

HHF provided over 8,000 businesses with asset-based finance in 2017, up 34% on the 2016 figure (6,000 companies), with the combined asset-based lending divisions surpassing the £100m milestone (£104m).

Mark Crook, co-founder and group chief executive officer of HHF (pictured above), said: “As one of only three UK finance providers to have secured a British Business Bank ENABLE Funding line (of £51m) in 2016, HHF was well positioned to assist companies of all sizes and stages to fund investment into business-critical equipment, and to manage cash flow demands in 2017.”

Origination increased by 25% in 2017 compared with the previous year, while 45% of all asset-based lending agreements – totalling a capital value of approximately £46m – were funded on HHF’s own balance sheet.

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The company’s own book lending increased by 42% during the last year, with own book receivables standing at £81m by December.

Henry Howard Cashflow Finance provided invoice discounting facilities for more than 90 businesses in 2017.

Mark added: “The growth demonstrated across both our asset-based lending and invoice discounting divisions reflects solid management strategies across both marketplaces, while our ability to accelerate lending on our own balance sheet facilitated an increased level of financial support for a record number of companies.

“As outlined above, this approach allowed us to significantly increase our funding capabilities, cementing the final stage in our transition to a fully fledged lender.

“As we turn to 2018, we have every confidence that HHF will evolve into an even more ambitious independent finance house, with a progressive own book appetite. 

“In preparation for this new phase, the board will continue to recruit leading industry talent, while investing in our existing operational capabilities.’’