LE Capital Reach £500 million in Forecourt Funding
By Richard Withers »Independent finance house LE Capital has reached a major milestone of £500 million vehicles funded – helping used car dealerships across the UK grow their businesses.
LE Capital is one of the UK’s market-leading stock funding providers, with a comprehensive network of online and physical auction house partners, who works with dealerships to help them drive profitability and find quality stock.
George Stancliffe, CEO, said: “Reaching this milestone is a testament to the strength and unique nature of our stocking finance product which we know can add tangible value to businesses we fund, allowing them to maximise their cashflow, expand their forecourts and grow their dealerships.
“We have paid particular attention to the importance of cash availability for businesses in this sector, so where some other stock funding providers can take up to 48 hours to make a payment, LE Capital can pay out in 1 hour of a request and can register payments our customers make to us in the same period. This is in addition to our customers benefitting from a simple charging structure, as we wrap all charges payable into one monthly fee with no early capital repayments for the first 120 days of funding.
He added: “We’re also delighted strong growth hasn’t impacted our customer care levels, with our average call response time remaining at just 15 seconds. We’re incredibly excited to build upon the stellar reputation our team already has in the market and achieve more memorable milestones.”
Earlier this year, LE Capital closed a new funding round with Shawbrook Bank which, combined with its current facility with Paragon Bank, will allow LE Capital to provide an even greater level of support to its customers in the coming months and years.
If you would like to speak to one of the team, please get in touch at [email protected] or on 0116 502 0116.
