Six months since its re-entry into the asset finance market, asset based lender Davenham Asset Finance’s portfolio has passed the 1m mark.
The Davenham Group returned to activity in Britain as of June 2013, having gone into administration in 2011 as a result of struggling performance following the 2008 crisis.
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Its agenda set on growing its portfolio size substantially over the coming months, Davenham said its increased performance coincided with the recruitment of Paul Lovelock to the sales team, the first of a series of planned sales appointments within the company.
In order to achieve its plan for 2014, the company has increased its funding line with Shawbrook Bank, with further support being made available by Hitachi and Arkle.
Paul Burke, managing director, said Davenham are ‘extremely proud’ of their achievement.
"When we launched Davenham Asset Finance we had a determined focus on service, both to the introducer and the client, which has been well received.
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By GlobalData"We are delighted and encouraged with the way we have been welcomed back into the ABL market and we are looking forward to reaching further significant milestones in the months ahead," he added.
