A Yorkshire asset finance company has reported a record surge in business for the last quarter of 2019.
Ethos Asset Finance – which was launched by former banker Chris Brown in 2007 – saw completed deals rise by 27.7 per cent, compared to the same period 12 months earlier.
Whilst Ethos is recognised as the “go to funder” for those operating in the private hire and chauffeur market, its team operates across a number of sectors, namely agriculture, prestige vehicles and machinery – the length and breadth of the UK.
Mr Brown said: “Despite the uncertain political situation the country faced towards the end of the year – which was finally resolved by December’s General Election – there was, and remains, a real mood of optimism.
“Whilst we saw a not insignificant rise in completed deals in the first three quarters of 2019 compared to 2018, the figures for the last quarter were stunning.
“With interest rates remaining low, businesses and individuals are looking at different financing options to purchasing tangible assets.
“Because we are independent and have more than a decade’s experience in the sourcing and funding of assets, we ae able to secure finance packages at more favourable rates compared to other lenders.”
Mr Brown added: “I’m delighted to say that the first two months of 2020 are proving equally as promising, which is being helped by a rising demand for electric and hybrid vehicles.
“Whilst we remain focused on helping customers finance petrol and diesel vehicles, a shift for some customers towards ‘going green’ has led us to the setting up of a specialist electric division, which we will launch in March.