An independent lender based in
Cumbria has embarked on a programme of sales expansion, after
experiencing a drastic reduction in competition in its immediate
surroundings.
According to the company,
H&H Borderway Finance (HHBF), the past decade has seen all the
major national finance companies close their offices in Cumbria and
South West Scotland, leaving HHBF as Cumbria’s only locally based
motor finance provider.
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Now it intends to pick up
increased market share within its territory, as well as forge more
links with dealers further afield.
The Carlisle-based company has
signalled its intention of sticking with its local market by
investing £100,000 on Vienna, a new proposal and administration
system from Oyster Bay Systems in Swansea, which allows its
authorised introducers to make finance applications via a web-based
dealer portal. Proposals can then be monitored and, upon
acceptance, the finance documents are downloaded by the
supplier.
Managing director David Carruthers
said: “The technology was successfully piloted before it was
introduced to all existing motor dealers and we have already seen a
significant uptake, with 50% of new proposals coming via the
portal. With a faster and more efficient proposal process we are
now able to expand our business into additional geographical areas
and create new opportunities.”
HHBF provides funding for new and used motor
vehicles, light commercial vehicles, caravans and motor cycles, for
individual and business use.
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