Haydock Finance Limited has secured increased funding facilities of £27.5m (39.1m) from the Royal Bank of Scotland and a further £5m from the bank’s asset finance partner, Lombard.
The Blackburn-based Haydock Finance focuses upon critical hard assets including buses and coaches, commercial vehicles, industrial plant and machinery, cranes, forestry and agricultural equipment, and machine tools.
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The firm was founded in 1980 by Jon Wilkinson and was established originally as a motor finance provider, and operates in the UK through a selected panel of approved finance brokers.
Haydock Finance will use the funding as part of its continued business growth aspiration which include new hire purchase, leasing and refinance proposals.
Steve Worrall, managing director at Haydock Finance, said: "We have a strong business relationship with the team at The Royal Bank of Scotland who understand our business model and aspirations. This has allowed for them to provide funding solutions which give us the flexibility to enhance and implement our strategic growth plans."
David Clarke, director at The Royal Bank of Scotland, said: "Haydock Finance has proven business growth track record in recent years and we believe the funding facilities will enable the business to continue forward with its business growth aspirations. We are delighted to support this asset finance company and wish it every success for the future."
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