LE Capital, which provides stock funding solutions for used car dealerships, has expanded into Northern Ireland to support the region’s thriving automotive sector.
It follows a transaction earlier this year in which the British Business Bank, through its ENABLE Guarantees programme, supported a £100 million senior facility provided by specialist lender Paragon Bank to LE Capital.
The transaction has significantly boosted LE Capital’s funding capacity, enabling it to extend its reach to more dealerships across the UK, including those in Northern Ireland, where it will offer facilities ranging from £50,000 to £1m, alongside dedicated regional support to ensure dealers receive a tailored responsive service.
George Stancliffe, chief executive at LE Capital, said: “Northern Ireland’s used car market is full of ambition and potential.
“This expansion is about enabling growth, improving access to stock, and helping dealers stay ahead of market trends.
“With the continued support of Paragon Bank, and as a proud delivery partner of the British Business Bank, LE Capital is entering an exciting new phase of growth.”
Since 2017 LE Capital has provided more than £1.1 billion of funding into the UK car market and financed over 110,000 vehicles.
Its unique stocking product offers same day pay outs and provides customers with access to purchase stock from most of the major auction houses in the UK.