LE Capital will expand used car stock funding support to an additional 400 franchised and independent dealerships after securing £100 million from the British Business Bank.
LE Capital will expand used car stock funding support to an additional 400 franchised and independent dealerships after securing £100 million from the British Business Bank.
The firm said access to liquidity for independent and franchise dealers will be critical in 2025 given current market conditions and the exit of several large funders from the market in 2024.
The British Business Bank was established to, among other things, give greater access to liquidity for small businesses.
George Stancliffe, LE Capital chief executive, said: “This new facility, supported by the British Business Bank, allows us to double our funding capacity and provide larger facilities to dealerships that need them.
“Our ability to offer more competitive pricing will help both new and existing customers access the finance they require to thrive in a competitive market.”