The largest supplier of company cars in the UK is Lex Autolease and they have just announced that they are going to be increasing the amount of funding they are offering to SMEs over the next three years by 20 percent.
The company currently lease around 70,000 vehicles to small and medium-sized companies across the UK. This business is worth around £750 million to Lex Autolease.
This is a renewal of the company’s commitment to small companies and it is matched by a commitment by Lloyds Banking Group, who owns the lease company. This is part of the bank’s commitment under the SME Charter that the parent bank has recently signed.
The director of sales to small companies at the leasing company is Andrew Kirby who has commented, “In the next few years we are looking to increase the amount of business we are doing with SMEs by 20 percent or more.
Transportation is one of the most essential things for a company’s growth and having mobile employees is essential for many companies. We are going to especially be focusing on lending to small companies that have a similar business approach to our own.”
There are nearly 300,000 vehicles in the fleet owned by Lex Autolease and about one in every four of these is leased by a SME. The company also offer financial products to make sure the cars are hired in the most tax efficient way. It also sets up agreements about sale and lease back options.