UK asset finance provider Haydock Finance has secured a £5m (7.16m) block discounting funding from challenger bank Hampshire Trust Bank.
This is the first block discounting transaction that Hampshire Trust Bank has completed, a few weeks after launching the service.
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The Blackburn-based Haydock Finance focuses upon critical hard assets including buses and coaches, commercial vehicles, industrial plant and machinery, cranes, forestry and agricultural equipment, and machine tools.
Steve Worrall, managing director of Haydock Finance, said: "Founded in 1980, our company has evolved over the years and is proactively seeking new hire purchase, leasing and refinance proposals in order to assist SME’s across the UK with a wide variety of business critical assets. The support and investment from Hampshire Trust Bank will enable us to make the most of future opportunities and continue to grow our business."
Last week, Haydock Finance secured funding facilities of £27.5m from the Royal Bank of Scotland and a further £5m from the bank’s asset finance partner, Lombard.
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By GlobalData
