8:14 am, April 11, 2023
LE Capital – a specialist funder that helps independent car and van dealers in the UK grow their business – has designed a product to support business cashflow.
The team is led by CEO George Stancliffe, pictured, who explains here why the product is so unique.
He said: ‘Other stocking products in the market can look very similar and make cash management difficult through delayed payouts and multiple capital repayments required when funding a car.
‘However, at LE Capital, we have designed a product which can immediately help a dealer’s cashflow.
‘We get funds into a customer’s bank account within three hours of a request, no capital repayments are required for 120 days, and we can fund stock for 240 days.’
LE Capital funds the full trade value of cars and has partnerships with most of the biggest auction houses to fund stock directly, including G3 Remarketing, Aston Barclay, Cazoo Wholesale and Auction4Cars.
These partnerships significantly reduce the administrative burden on dealerships, as they can get LE Capital to fund cars customers have placed bids on incredibly quickly.
The team has nearly funded £500m stock and recently closed a new funding round with Shawbrook Bank that, syndicated with its current facility with Paragon Bank, will allow it to fund double that amount over the coming 12 months.
If you would like to speak to one of the team, please contact them via [email protected] or on 0116 502 0116.
