Lex Autloease puts £900m behind small firms
The firm currently leases over 75,000 vehicles to SMEs, to a value of around £750m. Lex Autolease anticipates that its overall SME funding level will rise to £900m by 2014/15.
In renewing its commitment to the SME market, Lex Autolease is matching a similar commitment to its parent company, Lloyds Banking Group, which has pledged to increase business support and lending via an SME Charter.
Andrew Kirby, director of SME sales at Lex Autolease, said: 'In line with our ongoing commitment to SMEs, we’re actually looking to grow our core small fleet business by at least 20% over the next few years.
'We recognise that transport is one of the key building blocks of growth and want to help mobilise more SMEs and their employees. We intend to play an active part in lending to smaller firms, especially those with a similar approach to business as ours.
'We’re interesting in acquiring a customer, not a one-off transaction, so it’s important our relationship will be a long term one and that we both share the same mutual interest in quality customer service.'
Lex Autolease has a total fleet size of approximately 280,000 vehicles with 25% accounted for by the SME market alone. It provides a range of financial products enabling firms to run tax-efficient company vehicles via funding methods such as contract hire, contract purchase, personal contract leasing and salary sacrifice, as well as cash optimising sale and leaseback arrangements.