Praetura Lending hits a remarkable milestone with its loan book now beyond £500 million and a growth exceeding 25% for 2024.
- The company’s strategic funding options continue to support a wide range of sectors.
- Specialist segments led by Praetura have seen significant increases in their portfolios.
- Expansion includes geographical reach with new offices and increased workforce size.
- The company sets its sights on doubling their loan book in the coming years.
In 2024, Praetura Lending achieved outstanding growth, marking yet another record year with its combined loan book now surpassing half a billion pounds. This represents over 25% growth within the year, reflecting the company’s successful strategies in providing alternative lending solutions to small and medium enterprises (SMEs).
Praetura Lending, based in the North West, offers diverse funding options, ranging from £10,000 to £35 million, enabling businesses across various sectors to achieve their goals. Since its inception in 2013, the company has funded over £7.5 billion in assets—an increase of 38% this year alone. The number of businesses funded by Praetura grew by 21% in 2024, with industries spanning from construction to hospitality benefiting from its services.
The company is structured around five sub-businesses that offer different types of finance: Praetura Asset Finance, Kingsway Finance, Praetura Commercial Finance, Praetura Invoice Finance, and Zodeq. This year, Praetura Asset Finance and Kingsway Finance have both surpassed their annual funding records for the fourth year running. Notably, Praetura Asset Finance saw a substantial 27% increase in lending, while Kingsway Finance enjoyed a 17% rise in funding totals.
Further adding to its success, Praetura Commercial and Praetura Invoice Finance experienced a 72.5% increase in their lending portfolios. Zodeq, specializing in recruitment finance, celebrated its 100th new client in 2024, backed by a substantial seven-figure invoice finance agreement.
Expanding its reach beyond the North West, Praetura Lending opened a new office in Milton Keynes, contributing to a workforce growth of over 25% just this year. Currently, the company employs more than 150 people across its four offices.
Peadar O’Reilly, CEO, expressed the company’s ambition to support more business owners with their financing needs, aiming to expand the loan book to £1 billion and beyond. He emphasized that as traditional institutions narrow their lending provisions, Praetura’s relationship-driven approach is increasingly seen as the norm, providing vital funding alternatives to SMEs.
Praetura Lending’s achievements in 2024 underscore its critical role in providing alternative finance solutions to SMEs across the UK.
