The first online, 24 hour, self-service asset finance tool – lendinghive has been launched by the LDF Group, the UK’s largest independent provider of SME finance solutions.
Despite asset finance currently booming, up 13% year on year, British SMEs are still struggling to obtain finance quickly, when they need it and at competitive rates to fund expansion. Although there has been an emergence of bank led facilities designed to address this, they are primarily focused on businesses at the larger end of the SME spectrum.
Aimed at the country’s SME sector, lendinghive offers 24-hour access over multiple platforms, allowing SME owners to apply for asset finance when it suits them, at their own pace and with a decision in minutes as opposed to the weeks or months it can take presently via traditional sources.
“We believe that lendinghive will prove to be a significant development in asset funding for SMEs in this country and change the way they approach growing their business, giving them the convenient, rapid access to asset finance normally only enjoyed by larger companies,” says Peter Alderson, Managing Director of LDF. “The present asset finance process is complicated and long-winded with multiple customer touch points.”
“SMEs are a key driver for our economy but they are often let down by traditional funding channels. – lendinghive will address this. Very often, owners of smaller SMEs are heavily involved in the day-to-day running of the business and are under tight time constraints making it difficult to address finance issues during normal business hours. lendinghive gives business owners the option to apply for funding wherever they are, whenever they want and can expect a decision in minutes.”
lendinghive will address a desire from small business owners, especially those tech-savvy millennials, for technology driven, digital finance solutions. FinTech demand is increasing in the financial industry and this offering from LDF brings the technology to a wider business audience.
The lendinghive website provides an innovative asset finance platform for all SMEs, offering an exciting and revolutionary way to undertake asset finance requirements. For new start businesses, we would recommend that the customer contacts us to develop their application. lendinghive can be found at: www.lendinghive.co.uk