ASSET Advantage has grown new business by 48 per cent to £34million.

The privately owned firm announced its impressive figures for its financial year ending September 30, 2014.

Based at Matrix House in the centre of Basingstoke, it specialises in providing lease-based funding across a wide range of equipment for small and medium-sized businesses.

Commenting on the results, managing director, Jonathan Eddy, said: “We have invested heavily in our ability to write these volumes and I am greatly encouraged that we have a credit appetite that brokers are keen to use.”

Philip Knight, credit and risk director, added: “We take both a forensic and a common sense approach to underwriting which has enabled us to not only get to deals other funders won't touch, but to also keep bad debt at a very low level.

“It’s a win-win, which works for us and our introducer panel.”

Earlier this year, the firm stepped-up to the starting line and became a sponsor of the Destination Basingstoke Phillips Half-Marathon.

It also sponsored the Service Excellence Award the INSPIRE14 Business Awards.

Established in 1995, the firm has been based in Basingstoke for more than five years and employs 25 people.