Non-prime car finance provider Moneybarn celebrated its 20th birthday with a record month of new business in October.

The company’s origination volumes were up by 94% on October 2011; 335% on October 2010.

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The figures put Moneybarn on track to double its 2011 total origination volume, in line with the rise of the lender’s customer base, which has increased by 190% over the past two years, according to sales and marketing director Shamus Hodgson.

"It’s very rewarding to see that our positive approach to the non-prime market is continuing to deliver, and that even in tough economic times, there is still room for growth," said Hodgson. "In particular, these figures demonstrate the resilience of the broker and dealer community. The hard work and professionalism of our brokers and dealers is central to us delivering these kind of results."

The firm, rebranded from Duncton in 2011, has ridden out two recessions and now employs 70 staff across offices in Hampshire and West Sussex.

David Hoare, co-founder of Duncton, who wrote its very first car finance deal in 1992, said it was "hugely satisfying to see how we’ve grown together as a company".

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Sir James Crosby, chairman of Moneybarn and former deputy chairman of the Financial Services Authority, added: "As other non-prime lenders have fallen by the wayside or been held back by funding constraints, Moneybarn has managed to grow substantially but
without sacrificing any of its founding principles – I’m thrilled to be part of the company’s continued success."

richard.brown@timetric.com