Henry Howard Finance lent over £75m (€94.3m) last year, a £35m increase in lending from 2014, said the Newport-based lender.

The increase was driven by the acquisition of HH Asset Finance and HH Cashflow Finance 18 months ago, said Henry Howard Finance chief operating officer Mark Crook.

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Henry Howard Finance restructured into four divisions, HH Vendor, HH Asset, HH Cashflow and HH Retail Finance, in 2014 following a £25m investment from Cabot Square Capital.

Since the investment, staff numbers have grown to more than 90, with a new office opening in Solihull to add to those in Newport and London, said the lender.

Crook said: "Last year was a record year for us as our lending almost doubled, beating all our forecasts.

"This growth is largely down to the asset finance and cash flow branches of the business which were launched in 2014. They have allowed Henry Howard to diversify its offering and bring in a lot of new business.

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"The investment from Cabot Square Capital also significantly extended our lending capacity."

Tech

The business has started running its own app, called HowApp, an online credit decision and deal management tool.

Users can get an acceptance on finance agreements quickly, in around 20 seconds, said the lender, including document generation, sending and e-signing online.

HHF said the app had cut transaction times for HHF vendors by more than 90%, freeing up staff time.

"This is a finance house run for entrepreneurs by entrepreneurs, rather than bankers," said Crook.

"Our success is thanks to our commitment to provide our customers with top quality service. We take the time to get to know our client businesses so that we can tailor financial solutions to best meet their needs."