Called Grosvenor Corporate Finance, it will be headed up by Giles Bolton.

‘Corporate business is vital to dealerships but reliant on good finance partnerships,’ said Giles.

‘Working closely with proactive and determined contract hire providers can help make or break deals because when a business client shows an interest in leasing vehicles under a contract hire agreement the process of underwriting, quotations and the associated paperwork must be slick, fast and professional.

‘Underwriting acceptance levels currently sit at around 50 per cent for small to medium sized business and having previously worked for manufacturer finance teams I know from personal experience how incredibly frustrating it can be for dealerships to have to wait for credit decisions because the opportunity can be lost.

‘This is why Grosvenor Corporate Finance has been set up with efficiency in mind, offering fast underwriting decisions and competitive pricing,’ he added.

Bolton claimed the firm’s independence means it can make its own underwriting decisions in-house and because it does not have a call centre it is straightforward for dealerships to access its quotation and customer services teams.

‘Also, the fact that we already work with many small businesses will appeal to motor dealerships as most need a contract hire partner that understands this sector and is prepared to work hard to win business in it.

‘We have always had a culture of working hard for every vehicle, and we have already helped a number of dealerships win business because we have been as determined as they are to secure the orders,’ Bolton concluded.