Oldham-based business finance firm PMD has expanded, with the introduction of a new invoice finance division.
The company has appointed Mark Millhouse as head of invoice finance. This new division will offer all aspects of invoice finance, as well as services such as EFG loans, asset-backed funding, credit insurance, trade finance, stock finance, single debtor funding, export funding and foreign exchange.
Managing director of PMD Business Finance, Peter Dobson, said: “This is a new division of PMD but one that fits perfectly with our asset finance, refinance and loan activities. Mark brings over 18 years’ experience in the invoice finance sector and will be offering our clients and referrers access to a diverse range of invoice discounting and factoring facilities.”
The newly-launched division coincides with PMD’s recent office move to a larger space at Howarth Court in Oldham to house its increasing 30+ staff count, which has grown from just eight staff members when the business was founded in 2010.
Mark commented: “This is such an exciting opportunity for me; being able to work as an adviser, not a lender, and allowing me to offer completely impartial advice so I can match the most suitable lender to the client’s needs. I’ve known (Peter at) PMD for many years and have always been impressed with the team, their service levels and wide portfolio of funding options.
“Many SMEs have started to review their cash flow and asset-backed lending requirements, finding that there are now many flexible alternatives offering considerable advantages as opposed to the traditional bank options. One of the key benefits is that the client is more in control of their finances and less bound to their provider.”
Tom Brown, head of direct finance at PMD Business Finance, added: “We’re delighted to welcome Mark to PMD. Invoice finance is an exciting and complementary addition to our range of facilities and fits perfectly with the clients we work with. We’ve known Mark for some time and he embraces the same ethos and professional standards associated with PMD.”
