Here at LDF, we are aiming to increase the amount of funding we provide to SMEs through asset finance, and commercial finance brokers are to play a lead role in that expansion.
In December 2013, we received major new investment and have therefore sharply increased the funding we aim to provide to small and medium sized businesses via an expansion of our leasing book.
In recent times, we have been best known for providing short term lending to commercial and professional businesses to fund costs such as tax and VAT. While this form of funding will still form a large part of our business model, we are now aiming to broaden our leasing offering significantly.
We will be able to fund a broad spectrum of SME capital expenditures, including IT hardware, office refits, manufacturing and engineering equipment, plant and commercial vehicles.
Callum Stevenson, Head of Strategic Business Development here at LDF comments: “The SME finance marketplace has been turbulent over the past few years, with banks sharply reducing their small business loan books, major players withdrawing from the leasing market and brokers now facing regulation by the FCA.”
“Some major banks have pulled out of leasing over the last few years – the withdrawal of ING Lease alone has reportedly taken £1 billion a year of funding out of the asset finance market.”
“We want to help fill that gap for SMEs and brokers by increasing the volume of leasing we write. Demand for finance from SMEs is buoyant as the economy recovers, and businesses want to invest in growth. We at LDF are in a very strong position to provide more funding than ever before on our own book.”
He continues: “This is a very exciting time for us, with rapid expansion in amount and types of funding we can provide. Our relationships with a select number of brokers are going to play a vital role in driving that growth.”
If you’re a commercial finance broker and you’re interested in finding out what a partnership with LDF could offer to your business, contact Callum Stevenson on 01244 527 300.