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|Henry Howard Finance open new office in Solihull, West Midlands|
|Friday, 19 February 2016|
Henry Howard Finance has opened a new office in the Midlands as part of its ongoing expansion across the UK.
The Newport-based independent finance house has established the new office in Solihull, in order to develop its client base in the Midlands and better serve clients across the whole country.
The Solihull office will be headed up by Dan MacKrell, who joined Henry Howard Finance as head of technology (commercial) in October 2015.
Dan, who has more than 20 years’ experience in finance, leasing and more recently technology, will be supported by business development managers who will work to expand the company’s reach, providing funding and financial support for small and medium sized businesses.
Staff based in the Midlands office will work with manufacturers, distributors and vendors, particularly in the IT and telecoms sectors.
Dan MacKrell said: “The new office will help us service our nationwide clients from the heart of the country. We will continue to support our vendor partners and their sales teams with competitive rates, high acceptance ratios and technology to streamline the sales process.”
“We are here to do business in the most easy and convenient way for manufacturers, distributors and vendors alike. I believe this is proven by the new business we have won from our competitors and by the growth we have enjoyed recently.”
HHF now employs 90 staff – growth of 60% in 12 months – across three offices in Newport, London and Solihull.
The company has seen record growth this year with its lending soaring by 75% to more than £70 million.
This period of dramatic growth has followed a £25 million investment in HHF from Cabot Square Capital last year.
The money allowed HHF to increase its lending capacity and restructure into four divisions with HH Vendor, HH Asset and HH Retail Finance focused on leasing while HH Cash Flow Finance provides invoice finance. In all four divisions personnel have been added with specific industry expertise.
It has also enabled HHF to develop its FinTech offering with the launch of HowAPP, a user-friendly online credit decision and deal management tool which allows users to get an acceptance in just “7 clicks and less than 20 seconds”.
Finance contracts can be securely completed via Echo-sign, accelerating time to cash for our manufacturer, distributor and vendor partners.
Set up in 1996, HHF started trading as a sales-aid leasing company supporting vendors using leasing to spread the cost of the customer’s purchase over a term of usually three or five years.
It now has a portfolio in excess of £150 million which includes more than 20,000 different UK businesses.
Mark Crook, chief operating officer and co-founder of HHF, said: “We have clients and staff operating across the country but this new office in Solihull will allow us to better serve the whole of the UK.
“We have seen amazing growth throughout the business in the last year and want to continue driving this expansion through 2016.
“Dan and his team will work hard to develop strategic partnerships with our FinTech offer. Manufacturers, distributors and valued added re-sellers all benefit from the simple, useable quick and functional HowAPP product.”
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