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August 6, 2020updated 26 Jan 2021 11:04am

Haydock Finance CBILS payments reach £15m

By Chris Lemmon

SME finance provider Haydock Finance has paid out more than £15m through the government-backed Coronavirus Business Interruption Loan Scheme (CBILS).

As an accredited CBILS partner for asset finance, Haydock has paid out for more than 60 agreements, under their hire purchase and refinance product offerings.

Andy Taylor, sales director at Haydock Finance, reports; “We are pleased that we can support our customers through these challenging times.  Our asset finance CBILS products enable businesses to either invest in new assets or to release much-needed equity to support their recovery.   We have seen a significant increase in CBILS applications and to meet this strong demand we have a further £10million of funding in the pipeline.

“The team at Haydock have also been working hard to streamline our processes to improve the speed and simplicity of applications.”

Haydock has a long-standing relationship with the BBB, having been accredited to provide Enterprise Finance Guarantees before the Covid-19 pandemic.

The Blackburn-based national finance provider was established in 1980 and has an asset finance portfolio in excess of £125m.

In September 2020, Haydock Finance appointed Jon Hercman in the role of head of agriculture, marking the beginning of a new sales channel for the company, Haydock said in a statement.

He has more than 12 years’ commercial finance experience, including roles with HSBC and Barclays.

For the last eight years, Hercman has specialised in agriculture, gaining sector-specific knowledge of dairy, beef and lamb, pigs, poultry and renewables, plus arable and processing.

The appointment will see Hercman lead the delivery and sales strategies while supporting a nationwide introducer market, Haydock Finance said in a statement.

Hercman said: “I have joined a progressive company at an exciting time and I’m looking forward to the challenge of building our proposition in the agriculture sector.

“Asset finance plays a vital role in agriculture so I will be focused on providing our introducers and their customers with the best finance solutions and support in this specialist marketplace.”

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