LE Capital to support more car dealers with their growth plans, following new funding round with Shawbrook

• Specialist funder, LE Capital supports independent car and van dealers in the UK with cashflow to grow their businesses
• Having delivered close to £500m in funding, the client wanted to grow its portfolio and expand its offering in the marketplace
• Shawbrook structured a revolving credit facility, which with the client’s existing funding arrangement, will enable the lender to double its loan book and support more clients

LE Capital is a specialist funder which helps independent car and van dealers in the UK grow their business and the group has designed a product to support business cashflow.

The team is led by George Stancliffe, CEO, who explains why the product is so unique: “Other stocking products in the market can look very similar and make cash management difficult through delayed payouts and multiple capital repayments required when funding a car.

"However, at LE Capital, we have designed a product which can immediately help a dealer’s cashflow. We get funds into a customer’s bank account within 3 hours of a request, no capital repayments are required for 120 days, and we can fund stock for 240 days.”

LE Capital funds the full trade value of cars and has partnerships with most of the biggest auction houses to fund stock directly including G3 Remarketing, Aston Barclay, Cazoo Wholesale and Auction4Cars. These partnerships significantly reduce the administrative burden on dealerships as they can get LE Capital to fund cars customers have bidded on incredibly quickly. 

Having delivered close to £500m in funding, LE Capital was looking to grow its dealer portfolio and expand its offering in the marketplace. The business knew of Shawbrook’s expertise in the sector and approached the bank to secure the additional funding needed. The Speciality Finance team at Shawbrook structured a revolving credit facility, which in conjunction with the client’s existing funding arrangement, will support the client’s growth plans.

George Stancliffe, CEO at LE Capital, commented:

“It is an exciting time at LE Capital as in March we have nearly reached £500m in forecourt funding and this capacity will help us double that milestone in the next 12 months. Shawbrook Bank is a market leader in the UK supporting non-bank funding specialists so we are proud that they have recognised the strength of our market proposition.”

Warren Mutch, Head of Speciality Finance at Shawbrook, commented:

"We are always looking to support innovative SME-lenders with a strong approach to credit risk management and unique products which enable them to grow profitably into their chosen market. As such, we are extremely pleased to be supporting George and his team over the coming months and years.”