Praetura Lending, headquartered in the North West of England, has announced a record-breaking year, with its combined loan book exceeding £500 million and achieving over 25% growth in 2024.
Founded in 2013, the group has positioned itself as an alternative funding provider for SMEs, offering loans ranging from £10,000 to £35 million. These facilities cater to businesses across diverse sectors, including construction, manufacturing, transportation, retail, and hospitality, enabling them to pursue strategic objectives.
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In 2024 alone, the number of businesses receiving funding through Praetura grew by 21%, while the total value of assets funded reached £7.5 billion, reflecting a 38% year-to-date increase.
Praetura Lending is comprised of five divisions: Praetura Asset Finance, Kingsway Finance, Praetura Commercial Finance, Praetura Invoice Finance, and Zodeq. The group’s offerings span asset finance (hard and soft assets), sales finance (including asset-based lending and invoice finance), and bespoke multi-facility funding solutions.
Notably, both Praetura Asset Finance and Kingsway Finance achieved record funding levels for the fourth consecutive year. Praetura Asset Finance reported a 27% rise in lending, while Kingsway Finance achieved a 17% increase in year-to-date funding totals. Meanwhile, Praetura Commercial Finance and Praetura Invoice Finance saw their combined lending portfolio grow by an impressive 72.5%.
Zodeq, which specialises in recruitment finance, also marked a milestone by welcoming its 100th new client of the year in 2024, facilitated by a seven-figure invoice finance package.
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By GlobalDataPraetura Lending expanded its geographical footprint in 2024 by opening an office in Milton Keynes—its first location outside the North West—and increased its workforce by over 25%, bringing its total headcount to more than 150 across four offices.
Peadar O’Reilly, CEO of Praetura Lending, commented: “We are delighted to exceed this key milestone of a £500m loan book and are keen to support many more ambitious business owners with their financing needs. With the capacity and appetite to double our book to £1bn+ in the coming years, we are committed to helping SMEs thrive.
“The sector we work in was once termed ‘alternative lending’. As larger institutions limit their provisions, funding from companies like Praetura Lending should now be seen as the norm, broadening access to essential finance for SMEs.”
The group’s performance underscores its relationship-driven approach to lending, which is resonating with SMEs and intermediaries, and reflects its growing importance in the UK’s funding landscape.
