We recognise that ongoing economic uncertainty is creating a challenging environment for brokers and the SMEs they support. However, there are positive signs of growth.
Indeed, according to the latest figures from the Society of Motor Manufacturers and Traders, the new car market grew by 3.4% in May. While this growth is on the back of large declines last year, this is still encouraging.
Brokers have a vital role to play in providing SMEs with access to specialist lenders, such as Hampshire Trust Bank, and financing options to best suit their needs. In turn, we have a responsibility to continue to sharpen our broker focus and do everything we can to ensure introducers can make the most of the opportunities available to them.
We want to make it easier for brokers to do business with us. We launched our web portal less than 12 months ago and are continually working to enhance its functionality, recently introducing automatic document generation, saving time and improving accuracy. We have more enhancements in the pipeline.
Not only have we invested heavily in our digital proposition, we also invest in our people. We are expanding our regional business development team, recently appointing Stuart Urquhart as Business Development Manager, and all of our employees will be taking part in Asset Finance foundation training over the next month or so.
This investment in our people means brokers have access to specialists that truly understand the market. As a result, credit decisions are now being made in less than four hours and the team is consistently delivering same day pay outs.
With an expanded risk appetite across a range of diverse assets, we are actively engaging with brokers on specialist sectors of the market.
We are constantly working to sharpen our broker focus and are always keen to hear feedback on ways we can work better together.
Read more about our Asset Finance division.
Jon Maycock
Managing Director of Asset Finance