Haydock Finance, an independent provider of asset finance to SMEs, has announced gross receivables of £75m as the company celebrates its 35th anniversary year.
Founded in 1980, Blackburn-based Haydock Finance is a family owned business that was originally established as a motor finance company. It has significantly evolved over the years and now focuses on providing finance to customers primarily operating in the transport, logistics, engineering, manufacture, fleet hire, agriculture and forestry industries.
The company currently employs 28 staff and offers hire purchase, leasing and refinance proposals, primarily to SME’s located in England, Scotland and Wales. The dedicated team offers a market leading level of customer service. The underwriters are empowered to create a deal, being available to discuss all opportunities originating from their panel of approved introducers. Credit lines are the norm at Haydock given the flexibility such funding provides to growing businesses.
Earlier this year, Haydock was appointed as authorised representative by AIM-listed Secure Trust Bank as it made a new push into small business lending by launching its asset finance division.
Figures recently released by the Finance & Leasing Association (FLA) show leasing and hire purchase financed 28% of all UK investment in machinery & equipment in the twelve months to June 2015 (a five-year high), with the use of such borrowing increased 15% on last year to £28.2bn.
Steve Worrall, managing director of Haydock Finance, commented: “I have worked within finance for a number of years and have seen Haydock’s asset finance portfolio increase significantly as more and more businesses turn to alternative lenders to fund their ongoing asset requirements.
“It’s a fantastic achievement for everyone who has been involved in the Haydock journey over the past 35 years and we will continue to work closely with our customers, introducers and funders as we move forward to reach our next milestone.”