Haydock Finance receives block discounting facility from Downing
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 £1.1bn 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.”
