Praetura Group Hits £75m Q1 Lending Milestone
Praetura Group provided more than £75m of funding to SMEs in the first quarter of 2021, with demand continuing to rise.
The lending division – which comprises Praetura Commercial Finance and the Praetura Asset Finance Group – has seen its highest quarterly levels since it was founded in 2011.
Praetura Commercial Finance completed transactions totalling £50.5m during the period, all of which were management buyouts.
These included CRP Subsea and Pearl Window Systems.
The Praetura Asset Finance Group lent more than £18.5m through asset finance and term-loan facilities, while Praetura Ventures invested about £7m between January and March.
Stuart Bates, commercial director of Praetura Commercial Finance, said: “This is an exciting time in the evolution of our business and for Praetura Group as we seek to structure and deliver solutions that will enable SMEs to drive a vitally important ingredient in today’s business world – agility.
“SMEs are the backbone of the UK economy and it is critical that they are able to obtain both the level and flexibility of funding they need to maximise every opportunity to grow with confidence as they emerge from the pandemic.”