Asset finance specialist Haydock Finance has announced a new block discounting partnership with investment manager Downing LLP.
The new block discounting facility will enable Haydock to broaden their reach to a wide range of UK SMEs, providing hire-purchase, leasing and refinance for business assets to firms wanting to invest and grow. Throughout the pandemic, Haydock has maintained its commitment to providing asset finance across all sectors which has led to a large surge in applications. This additional funding will help Haydock to increase lending in line with this demand and pursue their ambitious growth strategy.
London based Downing (www.downing.co.uk) is an investment management business with over 30 years’ experience and in excess of £1.1 billion of funds under management. Downing has an established lending business, which it expects to grow significantly this year, and this first block transaction will assist its growth in this specialist segment of the market.
Steve Worrall, Operations Director at Haydock, says: “The team at Haydock are pleased to be recognised as the first block customer of Downing, who have demonstrated a flexible approach by providing a unique commercial funding solution to satisfy our specific year-end needs.”
Ian Allder, Investment Director and Head of Block Discounting at Downing comments: “Downing’s entry into the Block Discounting market reflects our successful history of innovation as a business and this partnership with Haydock illustrates our capacity to serve top tier players. Our flexible and commercial approach, alongside our ability to meet Haydock’s specific requirements, delivered the best solution as efficiently as possible and we are delighted to support them and, indirectly, thousands of UK SMEs.”
About Haydock Finance
Haydock Finance is an asset finance specialist who has been supporting UK SME growth for over 40 years. We have stood strong to support our customers through the tough times and the good, providing asset finance to a diverse range of businesses. With gross receivables of over £400 million, we work closely with our nationwide portfolio of introducers to provide a high level of expertise across a variety of funding solutions.
We provide funding for a comprehensive range of business assets with a long life such as HGVs, LCVs, buses and coaches, agricultural & forestry equipment, yellow and road plant plus industrial plant and machinery.
Downing LLP is an FCA authorised and regulated investment manager with over 30 years’ experience and has raised funds from over 25,000 investors. It helps UK businesses grow by investing in them via a wide range of tax-efficient products. It is proud to have raised over £1.7 billion into businesses across a range of sectors, from energy, care homes, health clubs, pubs, and children's nurseries to technology and e-commerce.