UK-based asset finance provider, Propel, has announced plans to partner with Azets, ensuring fast and flexible access to asset finance for thousands of British SMEs.
According to a statement from the firm, the partnership signifies a commitment to continue to finance investment in capital equipment across the UK.
Propel has supported over 40,000 business customers for more than two decades with its proprietary technology platform – Propeller.
With an overlapping client base, Azets – a British UK accounting, tax and business advisory firm and the largest SME regional practice across Europe – ensures access to finance solutions to over 120,000 clients globally.
Mark Catton, CEO at Propel Finance praised the new partner: “Azets is one of the largest accounting, tax and business advisory firms in the UK, with an outstanding and rapidly growing SME regional practice. We’re proud to be able to offer our services to Azets’ clients.”
Reinforcing the importance of SMEs as the economy recovers from Covid-19, Catton continued: “We know that SMEs are incredibly important to the recovery and vibrancy of the UK economy and we’re here to support businesses needing or wanting help to invest and grow.
“Azets stand out for their passion for local client service and we want our own offering to complement that really well.”
SMEs across the UK have had a challenging year due to a combination of the pandemic and Brexit. While businesses have been using government loans and lower interest rates, this period of government support will soon come to an end.
Consequently, SMEs are looking for “new solutions to their cash flow and funding issues” says Paul Clifford, regional CEO and strategic partnerships lead at Azets, added.
In a separate development, Carol Roberts, head of asset finance at Time Finance, recently cited findings from a UK broker and SME poll that found that one in four businesses will be looking into alternative finance solutions.
Reiterating the importance of asset finance in propping up these firms, Clifford continued: “asset finance provides them with a great way to free the cash tied up in their existing assets.
Clifford concluded: “Our partnership with Propel is a demonstration of our commitment to solving important problems for our clients and provide a brilliant client experience each and every time, something which fits closely with Propel’s mission.”