AM Online

Blue Motor Finance facilitates funding for independent dealers

Blue Motor Finance

Blue Motor Finance has launched a new AI-driven tailored stock lending product to support small independent motor dealers.

The firm claims that the new offering, developed following a review which revealed that more than half of independent dealers currently feel held back by incumbent providers when trying to obtain funding to support their business, is an “industry first”.

The new lending facility will enable dealers to finance new stock investments on their forecourt and is a form of secured SME lending facilitated by advanced technology, according to Blue.

By leveraging in-house built AI technology, Blue’s new product claims to resolve an ongoing issue of access to growth finance, and offers a simpler, faster alternative.  

The platform also allows users to manipulate the product so that they can utilise the facility in the most effective way possible and secure stock finance on terms aligned to their individual needs.

Blue Motor Finance chief operating officer, Chris Jones, said: “The launch of Blue‘s new SME lending product is a critical stage in our development as a company.

"Independent dealers have historically had to deal with a complex and burdensome process to secure the finance they require to grow their stock.

"This had the dual effect of hindering both their ability to grow their business and reducing the choice available to end customers.

"With the expansion of our unique lending platform, we anticipate a decisive shift in the market, with UK motor dealers empowered to make additional investments in their businesses."

In April last year Blue Motor Finance was named as the 21st fastest growing business in Europe in the Financial Times' annual FT1000 listing.

The business also ranked as the 2nd fastest growing business out of the 27 financial services and Fintech businesses at a time which the business said was "particularly significant in the context of the UK’s competitive consumer finance market".

Speaking at the time, Jones said: “Blue have a culture of innovation and continual improvement and this has created a virtuous cycle of growth and development.

"We have maintained our growth and have already achieved another two thirds increase on the 2016 figures analysed by the Financial Times, lending over half a billion pounds to over 50,000 customers.”


Click here for finance and insurance best practice and procurement insight

If you are not a registered user your comment will go to AM for approval before publishing. To avoid this requirement please register or login.

Login to comment


No comments have been made yet.