Anglo Scottish Asset Finance launches vendor programme following major UK expansion

Anglo Scottish Asset Finance, based on the Drum Estate in Chester-le-Street, is driving growth plans with the addition of innovative unit stocking and dealer finance tools to its product offering, as part of its new vendor finance programme.

The programme is being delivered by Carl Johnson, who has been appointed head of vendor finance, following four and a half years at the company as sales director for England and Wales.

The news comes at a time of significant growth for the company, which has recently merged with Birmingham-based, Capex Asset Finance, uniting both companies under the Anglo Scottish banner, as it focuses on national expansion. The company spotted an opportunity to use its expansive lending panel to support vendors selling goods in a wide variety of sectors.

Anglo Scottish is an independent business finance broker, providing a range of financial services across the UK including asset finance, business loans, vendor, and dealer finance, as well as personal vehicle solutions and vehicle sourcing.

Carl said: “Gone are the days when businesses could go to their local bank manager to discuss the finance options available to them when they need to invest in new equipment or vehicles. Instead, increasing numbers are asking their suppliers for finance options.

“We look to work closely with those suppliers to ensure their customers have access to finance packages tailored to their specific requirements. This helps the vendor or supplier to secure their order and, by adding unit stocking and dealer finance to our product offering, we can assist the vendor’s cashflow. Cash is often tight for businesses selling capital equipment and vehicles, other than those working directly for a manufacturer that have the capital to buy their stock outright. The pandemic has hit a lot of these businesses and many have made significant financial loses, which has meant access to credit is harder than ever before.

“Banks have one set of underwriting criteria and if a business does not meet it in any way, the relationship between lender and customer comes to an abrupt end meaning a vendor doesn’t get that valuable order. At the other end of the barometer, Anglo Scottish deals with an extensive range of funders so if one doesn’t match, we have a plethora of others that most likely will.”

David Foster, managing director of Anglo Scottish, said: “We are constantly looking at new products that bring value to the market and help soothe pain points for both manufacturers and lenders. By utilising our strengths as funding partner, we are able to help the manufacturer or vendor to increase sales by providing capital for investments.

“Vendors have become increasingly frustrated as access to traditional funding is a lot harder than it once was. Happily, there are other options that are often more beneficial and, over the years, Anglo Scottish has created a name for itself as a trusted and preferred partner for lenders. As new funders continue to flood in to the market, we are able to make long lasting relationships as we are known for our ability to provide large volumes of business.

“It is an extremely exciting time for the company and we have an ambitious growth plan that will see us continue to seek the best possible outcomes for our customers and our vendor partners, both old and new.”

Anglo Scottish Asset Finance launches vendor programme following major UK expansion

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