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Blackburn-based asset finance provider Haydock Finance has increased its funding facilities to £37.5m to support its growth plans. The funding package comprises a £28.5m revolving credit facility from the Royal Bank of Scotland (RBS) and a £9m block discounting line from the bank''s asset finance partner Lombard. Haydock Finance, a longstanding client of RBS, will use the money for additional hire purchase, leasing and refinance proposals that will enable it to increase gross receivables above the current level of £100. Steve Worrall, managing director at Haydock Finance, said: The team at Royal Bank of Scotland are very proactive and deliver bespoke funding solutions that meet our needs as our business grows. We have a strong business relationship with the team who understand our business and our strategic growth plans. David Clarke, director at the Royal Bank of Scotland, said: Haydock Finance has enjoyed a continued period of growth and development, and we believe the funding facilities will enable the business to continue forward with its business aspirations. We are delighted to support this asset finance company and wish it every success for the future. Haydock Finance is a family-owned asset finance provider that offers credit facilities to small- and medium-sized enterprises and business users across the UK. The business focuses upon critical hard assets including buses and coaches, commercial vehicles, industrial plant and machinery, forestry and agricultural equipment, and machine tools. |
