In a significant achievement, Praetura Lending’s loan book now surpasses £500 million, marking a record year for the firm.
- The company experienced more than 25% growth in 2024, showcasing its strong performance in the lending sector.
- Since its inception, the firm has funded over £7.5 billion in assets, with a 38% increase noted this year.
- Key sectors benefiting from Praetura’s loans include construction, manufacturing, and retail, highlighting its diverse portfolio.
- Praetura Lending’s workforce has expanded significantly, reaching over 150 team members across four offices.
Praetura Lending is marking a substantial milestone, with its cumulative loan book eclipsing the £500 million mark. This milestone reflects a record-breaking year, underscored by a more than 25% growth in 2024. The company, based in the North West of England, effectively serves small and medium-sized enterprises (SMEs) by providing an alternative to traditional financial institutions. With loan offerings ranging from £10,000 to £35 million, Praetura supports a wide spectrum of businesses in achieving their strategic goals.
Since its launch in 2013, Praetura Lending has facilitated funding for assets exceeding £7.5 billion, which escalated by 38% in the current year alone. The company’s reach in 2024 broadened by 21%, extending its services across industries such as construction, manufacturing, transportation, wholesale, and entertainment. Praetura’s structure consists of five entities: Praetura Asset Finance, Kingsway Finance, Praetura Commercial Finance, Praetura Invoice Finance, and Zodeq. These divisions provide a comprehensive range of funding solutions, including asset finance and sales finance, tailored to various business needs.
The company has recorded successive years of exceeding funding levels. Notably, Praetura Asset Finance and Kingsway Finance have surpassed annual funding records for the fourth consecutive year, with increases in lending of 27% and 17%, respectively. Praetura Commercial and Invoice Finance divisions reported a 72.5% growth in their loan portfolios. Additionally, Zodeq celebrated acquiring its 100th client in 2024, culminating in a seven-figure invoice finance deal.
Further expanding its footprint, Praetura Lending inaugurated its first location outside the North West in Milton Keynes, enhancing its operational capacity. This year, the company’s workforce grew by more than 25%, now comprising over 150 employees across four locations. Peadar O’Reilly, CEO of Praetura Lending, expressed delight at reaching the £500 million milestone and indicated the company’s ambition to expand its loan book to over £1 billion in the coming years. He emphasised the critical role of Praetura’s relationship-focused approach in meeting the financial needs of SMEs and adapting as traditional lenders tighten their lending criteria.
Praetura Lending’s latest milestone underscores its crucial role in SME finance, further establishing its influence in the alternative lending sector.
