Kennet Equipment Leasing has achieved £20 Million in Own Book receivables – well ahead of target.
Acquired in June last year by STAR Capital (“STAR”), Kennet has had considerable investment, meaning that they are now not only a leading independent finance broker, but can now be considered as a “challenger bank”.
Kennet Managing Director Steve Swift said, “Kennet, as a leasing broker, achieves fantastic results by virtue of the support it receives from both STAR and other funders. Now that we also have our own considerable financial resources available to underwrite more deals ourselves, we can offer even greater customer choice via both brokered and Own Book channels. “It is our primary commitment to build Kennet into one of the largest UK leasing finance providers for SME businesses. We are already well placed to hit our target of £50 Million of Own Book receivables by 2017; having set our £20 Million target to be met by the end of 2015, we have achieved this 6 months ahead of schedule. “Coupled with our financial performance, we continue to strive to give impressive levels of customer service and subsequently the company’s growth continues apace – we have already added 12 new staff to our team since the start of the year, with more expansion plans afoot”
Established in 1990, Kennet Equipment Leasing celebrates its Silver anniversary this year. From humble beginnings with 3 staff in a spare room, it now employs over 72 people.