History of Propel
In 2020, Propel partnered with Barclays Bank UK PLC to help SME business customers access best-in-class asset finance services to purchase equipment and vehicles; enabling them to maximise their opportunities, driving productivity and performance.
1996Our story begins in 1996 as Howard Ross approaches Mark Crook to co-steer newly established brokerage Henry Howard Finance (HHF). Scroll through to see our impressive journey from local broker to national funder.
1997 – 2001
We quickly became a recognised and respected niche broker for SME’s. A dedicated sales team are recruited and a number of key accounts are quickly established.
As our growth gains momentum, we become a PLC.
We begin lending own money against own balance sheet, creating an ‘own book’ facility.
2001 – 2010
We expand significantly due to our quick and straightforward leasing agreements complimented by customer service and outstanding relationship management.
We are recognised as one of the leading providers of SME finance in the UK.
We enter another period of significant growth as we attract a £25 million investment from Cabot Square Capital, a specialist financial private equity investor.
2014 – 2015
The business writes increasingly more business, using its own capital and creates new business divisions (Asset, Vendor, Retail & Cashflow).
We proudly launch ‘HowApp,’ an online credit decision and deal management portal.
£51m asset finance facility is agreed with the British Business Bank’s Enable Funding programme (50% guaranteed by the European Investment Fund). Another £7m is also secured by block funding.
We lend in excess of £150m to businesses in the UK and our services are recognised by leading industry channels.
We experience another period of enormous growth. Anne Williams joins the business as COO, having previously worked for GE Capital for 20 years.
We sell our Cashflow division to concentrate on our Asset, Retail and Vendor activity. Director Mark Catton, new CEO and Mark Tweed, new CFO joins the business at a time of exceptional growth. The senior management team is strengthened and we drive forward our growth plans to cement our reputation as a leading funder of choice.
We are delighted to win over 30 awards during 2019 for our fantastic technology led and service led approach. An additional £60m asset finance facility is agreed with the British Business Bank. We invest £1m into our technology, becoming one of the most flexible and advanced funders in the market. Jon Maycock joins us as Commercial Director.
For over 20 years, we have continued to deliver leading-edge finance solutions through a unique combination of teamwork and technology, and our exciting new chapter is a new name, and new drive to support businesses across the UK. To create experiences that are personal, progressive and partner-orientated. We are proud to introduce Propel.