Investment paying off as lender sees continued portfolio growth

THE Newport-based independent lender Henry Howard Finance (HHF) has continued its record portfolio growth during the first half of 2018.

This, the company says, reinforces its position as a leading funder for SMEs within the UK.

HHF, which recently reached the milestone of supporting more than 30,000 companies across the UK, has seen a year-on-year increase of 50% in own book lending. Own book receivables currently stand at £77m.

The combined asset-based lending divisions within HHF paid out more than £57m funding during the last six months.

HHF has recently reconfigured its business, including the recent sale of the HHF Cashflow Division, in a move it says will enable further growth and investment within its Asset Finance, Retail Finance and Vendor Finance businesses.

Mark Catton, CEO of the Henry Howard Finance Group, said: “We enjoyed a strong first half of the year. We have a great customer franchise, assisting SMEs of all sizes to fund business critical equipment. We also enjoy fantastic relationships with our many hundred vendor partners.

“We continue to invest in our technology platform, which is highly rated by our vendors and allows credit decisions and documentation in minutes.

“We are also investing heavily in our funder platform and capabilities, backed and supported by the British Business Bank.”