Northamber has opened a financial services arm following the successful completion of a pilot programme.
Steve Kendall, Northamber director of credit services, said the company is passing on to its customers the rates it can negotiate as 'a large PLC, turning over u250 million a year'.
Northamber Financial Services is offering a menu of services to any dealer operating a credit account with the company. Options include extended payment terms, credit ballooning to fund big corporate deals and direct user invoicing.
The company says these options will enable dealers to manage cashflow and avoid expensive and complicated factoring and invoice discounting arrangements.
It is offering finance leasing through Lombard for dealers to offer to consumers. Leasing finance extends to software, maintenance, services and hardware, the company said.
It has struck a deal with Trans-america Finance to deliver working capital at High Street rates on 60-day terms. It is offering a range of credit-checking services through Graydon.
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