Haydock Finance, the independent Blackburn-based asset finance provider, has extended its block discounting facility with Hampshire Trust Bank to £10m (€11.76m).

Haydock Finance was the specialist bank’s first block discounting customer after launching the service in mid-2015.

Through its block discounting service, Hampshire Trust Bank offers funding direct to independent finance houses that want to use their loan book as security to fund the development of their business.

Andrew Dearden, director of block discounting at Hampshire Trust Bank, said: “Haydock Finance has a strong management team, proven track record and solid client base, the key attributes we look for from our clients. We look forward to continuing to work together in the future.”

Steve Worrall, managing director of Haydock Finance, said: “We work through a small selected panel of approved finance brokers and equipment suppliers to provide a range of asset finance solutions to customers across the UK.  We value the ongoing business relationship we have with Hampshire Trust Bank and this extension to our existing facility will enable Haydock to make the most of opportunities in the market.”