Brightstar launches invoice and asset finance arm

Brightstar’s invoice and asset finance team, which also covers unsecured lending, has seen significant growth since the business arm was first piloted in December 2015.

Paul Debney has been chosen to head up the division, having previously worked in the SME and corporate banking sector, as well as at HSBC and Clydesdale Bank.

Recent data from the Finance and Leasing Association showed that asset finance grew by 9% in May this year, compared with the same month last year, while asset-based finance loans increased by £25 billion in 2015.

Paul Debney, commercial finance specialist at Brightstar, said: “Raising finance carefully is more vital than ever post-Brexit, and it is clear that more individuals and businesses are understanding how their assets can be used to unlock capital.

“Invoice and asset finance are growing areas of lending and, as a result, it is no surprise that borrowing against assets has become a more mainstream option for those looking to unlock funding and fuel growth.

“While working with lenders who offer a flexible approach to underwriting, Brightstar’s new invoice and asset finance arm allows the team to be even more specialist in an array of areas of commercial finance, offering intermediaries a full suite of solutions to achieve their goals. We also work with a range of specialist lenders which allows us to go out to the whole of the market in order to meet a customer’s individual requirements.”