Strategic partnership: PMD to support RHA members with flexible funding
PMD begins a strategic partnership with the RHA, the trade association of choice for all operators of commercial vehicles, giving its members access to the widest panel of funding lines available in the market.
Manchester based PMD Business Finance is one of the UK’s leading independent providers of business finance and is now lending over £150m each year to UK businesses. With access to over 100 trusted funders from high street banks, alternative lenders, through to boutique finance providers, PMD supports over 10,000 SME businesses, 3,000 of which fall within haulage and transportation.
As banks regress, the alternative finance sector continues to grow and become a more trusted provider of SME business finance. As part of the partnership, PMD will provide RHA members with access to multiple funding lines, ensuring they are never over exposed to one funding source for asset purchases.
Peter Dobson, managing director at PMD, said: “We are proud to begin our partnership with the RHA to develop the business finance remit offered to its members, including our innovative benchmarking service.
The alternative finance marketplace continues to grow, and PMD is perfectly positioned to guide operators through the ever-changing financial landscape.”
The dedicated PMD team will provide members with support above and beyond asset finance as their specialisms include invoice finance, loans, acquisitions, property and supplier led finance.
Peter adds:“The partnership comes soon after the chancellor’s announcement of super-deduction Annual Investment Allowance in the Spring Budget. Savings of up to £24,700, on assets costing £100,000, are there to be had over the next two years – a true incentive for operators considering investing in new plant and machinery and commercial vehicles.
“With access to over 100 funders, PMD is as close to the funding world as a business can get and I am confident in the support we can offer.”
Pete Short, head of business development at the RHA, comments on the new partnership:“We are excited to be launching RHA Business Finance driven by PMD. This partnership will ensure our members have access to the best-in-class business finance solutions, to help them recover after such a difficult year for businesses, but ultimately to grow and thrive as businesses in the future. The expertise PMD can bring to the table will be essential for helping operators navigate much needed financial support.”
