FinancePraetura Commercial Finance completes increased syndication of debt facilities, resulting in over...

Praetura Commercial Finance completes increased syndication of debt facilities, resulting in over £100m to deploy to SMEs

Praetura Commercial Finance has successfully completed an increased syndication of its debt facilities, enabling more SMEs in the Northern region to obtain the transformational finance they need to power ahead in the current challenging environment.

The funding will be made available to SMEs, offering innovative working capital solutions for a variety of event-driven transactions, including acquisitions, MBOs, refinancings, turnarounds and growth requirements. Meanwhile, Praetura Commercial Finance has also increased the size of its Manchester-based team to provide additional resource to support clients.

Stuart Bates, Commercial Director of Praetura Commercial Finance, said: “I am delighted to announce and welcome ABN AMRO Commercial Finance, who join our existing senior lender RBS, with additional support of £32m. Together with our growth capital partner, RM Capital Partners, we now have over £100m of debt facilities to deploy directly to companies in the North of England helping them to secure additional working capital to drive their businesses forward faster.

“Over the last few months, we have grown closer to our clients than ever before. They have all told us that they have benefitted significantly from our relationship-driven approach and that having immediate and regular direct access to our board and key decision makers has made all the difference, particularly during the pandemic.

“At a time when every business in the UK is being forced to respond to the challenges posed by COVID-19, Praetura Commercial Finance continues to push forward, demonstrating resilience and an appetite for new opportunities.”

Andy Barraclough, Head of Regional Asset Based Lending at RBS, said: “RBS are delighted to be able to continue our backing of Lisa, Stuart and the Praetura team, and in being joined by ABN AMRO in the enlarged facility we are putting in place support for their medium-term growth aspirations. The Praetura team are incredibly experienced and run a terrific business. In these uncertain times, the professional way they have supported their clients is testament to their strong professional culture. We are proud to be part of that journey.”

Jeremy Smith, Director of Corporate Client Origination at ABN AMRO Commercial Finance, said: “Alternative lenders are a key part of the funding options available to UK businesses. Praetura CF is a quality operator in that field and ABN AMRO is delighted to be partnering with RBSIF in providing additional liquidity to them to help and support UK businesses.”

Latest

5 Best SEO and GEO agencies in Manchester

When a customer searches for a supplier, compares products or looks for a local service, they might start with Google, ask ChatGPT for a...

The Courier Is Late. Where Do the Next Ten Parcels Go?

“Just put it with the others.” The others are already blocking the stock cupboard. The courier was meant to arrive an hour ago. Twelve more parcels...

Six Times Your Fire Risk Assessment Should Be Reviewed, Not Just Renewed

Some businesses can be guilty of treating a fire risk assessment much like they would an MOT. It gets carried out at least once...

 Christmas toy appeal calls on borough residents to help families in need

Rochdale Borough Council’s staff-run charity 'Number One Riverside Giving Back' is now collecting donations for this year’s Christmas Toy Appeal, which helps make sure...
Subscribe to our newsletter
Business Manchester will use the information you provide on this form to be in touch with you and to provide updates and marketing.
Don't miss

Common myths about debt solutions in the UK debunked

There is a lot of misinformation about debt, and believing the wrong thing at the wrong moment can close off options that are, in...

Eurostar Commodities strengthens food safety credentials with BRCGS AA success

New accreditation recognises manufacturing standards across Yorkshire supplier's Brighouse, gluten-free and rice facilities Food ingredients supplier Eurostar Commodities has achieved the highest grade available under...

What Greater Manchester workshops should know about spray booth extraction

Greater Manchester has a long tradition of making things, and plenty of workshops, fabricators and vehicle refinishers still rely on spray finishing to get...

Time Finance raises £8,500 for RNLI through year-long fundraising effort

Independent SME lender, Time Finance, has raised £8,500 for the Royal National Lifeboat Institution (RNLI) through a series of fundraising initiatives, including its second...

More News

How data-driven banking helps you make better financial decisions daily

Gone are the days when managing your bank account meant having to set aside time to visit a branch and queue for inquiries or...

Common myths about debt solutions in the UK debunked

There is a lot of misinformation about debt, and believing the wrong thing at the wrong moment can close off options that are, in...

How North West businesses can fund growth without betting the firm on one lender

The North West has a habit of producing businesses that outgrow their cash. A Trafford Park engineer wins a contract it can't tool up...