Record-breaking portfolio growth for UK finance provider

Henry Howard Cashflow Finance, which supplied invoice discounting facilities for more than 90 businesses in 2017, providing more than £100m compared to £83m the year before.

In total, the group lent more than £200 million to UK SMEs during 2017 as it diversified into new sectors, including healthcare, renewables and robotics.

Mark Crook, co-founder and group chief executive officer, said: “As one of only three UK finance providers to have secured a British Business Bank ENABLE Funding line (of £51 million) in 2016, HHF was well-positioned to assist companies of all sizes and stages to fund investment into business-critical equipment, and to manage cash flow demands in 2017.

“The growth demonstrated across both our asset-based lending and invoice discounting divisions reflects solid management strategies across both marketplaces, while our ability to accelerate lending on our own balance sheet facilitated an increased level of financial support for a record number of companies.”

He said that the significant increase in funding capabilities was the final stage in its transition into a fully-fledged lender and predicted more ambitious growth during 2018.

Crook added: “In preparation for this new phase, the board will continue to recruit leading industry talent, while investing in our existing operational capabilities.’’