HH Business Finance enjoys over 200% growth through 2022 as it answers SMEs’ call for alternative financing options

HH Business Finance (HHBF) the South Wales based, commercial finance firm, continues to see strong growth in 2022 with its wide range of flexible, alternative funding and finance solutions for SMEs.

Companies in the UK are struggling to access finance from mainstream lenders. According to a survey commissioned by payment solutions firm Sonovate, more than four in 10 (41%) of business leaders believe that banks’ lending policies have failed to keep pace with modern business needs. Further, more than a quarter (26%) have difficulties accessing finance from major lenders.

Alternative finance is already starting to plug this gap. Throughout the course of 2022, HHBF, which has its head office in Magor, has seen its own flexible finance activity grow by more than 200%.

“We continue to solidify our position as a funder of choice for all SMEs, many of which are turning away from the big banks to financing that is better fit for the ways that modern day businesses operate,” commented Mark Crook, Director at HHBF (and former co-founder of Henry Howard Finance).

“This year we have already doubled the size of the team, by the end of the year, we hope to add several more members, enabling us to provide solutions to even more SMEs across the country.”

In the last two years, HHBF has lent more than 1,000 clients in excess of £50 million. Leveraging its experience across several sectors and niches, the company can provide flexible funding options to SMEs operating in all parts of the economy.

HHBF has a proven track record in funding convenience store fit outs, fuel station forecourt developments, care home investments and franchise expansions, among other projects. This reflects the experiences and expertise of the firm’s team of five directors, comprising former owners and senior management team members of Henry Howard Finance PLC.

Looking ahead, HHBF expects to strengthen its growth trajectory and support even more small businesses around the UK. With further interest rate hikes expected to be announced by the Bank of England in the coming months, many SMEs will be looking at alternative financing methods to fund their development. Indeed, according to the same Sonovate survey, 44% of small business leaders expect to accelerate their finance plans in response to rate increases.

“Our message is clear. If your business looking to secure funding for a range of reasons from investment in new equipment, property or simply to realise commercial ambitions, release cash flow pressure and fuel growth, we are here for you,” Crook added.

“Our team will always be ready to answer any questions. We pride ourselves on being a relationship first business rather than relying on an automated system to make decisions – because of our personal approach and wide-ranging industry expertise, we tailor our solutions to suit many different requirements.”