Hampshire-based asset finance broker Forest Asset Finance has
begun to develop its own funding book.
While it is early days, with the company so far having
written only around £250,000 of finance, it is an area that the
company is looking to grow, said Michael Bycroft, one of the
company’s three directors.
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“We put many millions of pounds of asset finance into the market
each year and one thing we’ve started to do is a bit of own-book
funding ourselves as well. This is something we could only have
done with the growth of the business,” he said.
Around two-thirds of its broking business is involved in
sourcing bus and coach deals. The average deal size is around
£100,000 and they range from £6,000 to £6m, according to
Bycroft.
Forest is seeing additional funding opportunities in waste
management and, while it is still a fairly small proportion of the
business, there has been an increase in interest from existing
customers, as well as referrals from new companies.
Forest, which launched in January 2004, has four members of
staff, with the latest, Philip Gwyther, having joined just over a
year ago after having been with Lombard for several
years.
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