HH Asset Finance has funded a number of heavy and light recovery vehicles for Caldicot Fleet Maintenance Recovery.

The Monmouthshire-based company, which employs about 60 staff in the UK, financed the purchase of a number of new vehicles, some with a value of up to £200,000.

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Gavin Edwards, operations director at Caldicot Fleet, said he started working with HH Asset Finance two years ago after losing patience with the UK’s high street banks.

Edwards said: "I was having very little success getting the sort of funding we needed from the high street banks. They wanted loads of paperwork, there were endless checks and everything seemed to take a very long time.

"We approached HH Asset and they were really open minded and friendly and listened to what we wanted to do. They understood the business and got a funding package in place really quickly."

Matt Jones, head of HH Asset Finance, said: "We are a business run by entrepreneurs not by bankers, giving us a proper understanding of the issues our clients face.

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"We want to see businesses succeed and as an independent lender we are able to tailor our financial packages to suit different needs.

"Caldicot Fleet is a great example of a strong business that clearly merited our support. Access to prompt and competitive funding is vital and we are delighted to be able to contribute to their ongoing success."

Last year Financial services private equity investor Cabot Square Capital invested £25m (€31.6m) in broker Henry Howard Finance (HHF), in order to enable it to increase its provision of finance for SMEs