Henry Howard Finance extends block discounting facility to £8m
Newport based Henry Howard Finance has extended its block discounting facility with Hampshire Trust Bank from £5m to £8m.
Henry Howard Finance will use the funds for onward lending to its customer base of UK SMEs.
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.”