NextGear Capital research reveals post-lockdown funding trends

NextGear Capital research reveals post-lockdown funding trends

Dealers are leaning on Covid-19 recovery loans and overdrafts to keep their forecourts stocked according to the latest sentiment survey from our colleagues in NextGear Capital.

Their research has revealed 13% of dealers have used the Bounce Back Loan Scheme or Coronavirus Business Interruption Loan Scheme to stock up their forecourts, while 22% have used an overdraft facility.

NextGear Capital has approved customer requests for an additional £27m since 1st June, while it funded some 10,000 vehicles worth £82m during lockdown itself.

Read the press release here


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