Independent lender Henry Howard Finance has increased its credit facility with the Hampshire Trust Bank from £5m to £8m.
The larger block discounting facility will allow Newport-based Henry Howard Finance to extend its lending to a larger portfolio of SMEs across the UK.
Through its block discounting division, Hampshire Trust Bank offers funding direct to independent finance houses that want to use their loan book as security to fund the development of their business.
Howard Ross, CEO of Henry Howard Finance, said: “The extension of our block discounting facility with Hampshire Trust Bank is great news for us and for our customers.
“The extra funding will allow us to increase our lending to SMEs, supporting faster and more sustainable business growth and development.”
Andrew Dearden, director of block discounting at Hampshire Trust Bank, said: “Henry Howard Finance is a leading independent finance house in Wales. We are delighted to be working with them and to have extended our funding line, helping them grow their business by providing more onward lending to UK SMEs.”
This came just days after Henry Howard Finance announced it had agreed a £51 million asset finance facility with the British Business Bank.
The facility, which is 50 per cent guaranteed by the European Investment Fund, will also boost Henry Howard Finance’s lending to UK businesses.
Latest posts by David Dungay (see all)
- Avaya considering $5 billion buy out - March 27, 2019
- Mitel Appoints Graham Bevington as EVP and Chief Sales Officer - April 10, 2015
- Exertis is the New Name for Micro-P - October 24, 2013