The company reported a 26% rise in hire purchase facilities, with the number of businesses using asset refinance increasing by almost a third.
A large proportion of the company’s loan book consisted of haulage, construction and vehicle hire.
However, Praetura also witnessed triple-digit growth in the amount lent to businesses in the arts and entertainment industry.
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Mike Hartley, managing director at Praetura Asset Finance (pictured above), said: “When we established Praetura just a few short years ago, we were very clear about what we wanted to do; which was to put the focus back on the SMEs we were providing funding for.
“And it’s working.
“As a ‘consultant-lender’, we’re not just here to tick boxes, press buttons and finance assets, we’re here to understand, to comprehend and to finance solutions which will enable businesses to grow.”
Mike stressed that there was still work to be done.
“More and more businesses are benefiting from the range of options that asset finance can make possible, but there are many more that we could be helping who still think if the bank says no, then there’s nowhere else to go.
“This we need to change.”
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