deals worth together a total of some £5 million, (€6.34 million)
bringing its total number of deals it has signed since its launch a
year ago to 54.
The two recent deals include the financing of a £4 million
printing press and a £1 million SAP solution. The second deal was
done with Clyde Pumps, which was introduced by smartfundit.com, the
web-based IT financing exchange.
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Close Leasing director Neil Davies said his company has signed
up over 30 introducers, including brokers and captive vendor
lessors. A large number of these directors originally dealt with
Close Leasing’s during the 1990s, when they worked for ING Lease
and CIT.
Close Leasing, a subsidiary of Close Asset Finance, has a
portfolio new business volume worth around £40 million and is
targeting a £70 million volume in 2009.
It said it will be more careful in some sectors due to the
current economic climate.
“As liquidity generally diminishes in the sector, concerns grow
that even borrowers where we may previously have felt were somewhat
immune, may yet be affected,” Davies said.
Although the company said it has no bad debt and arrears at the
moment, it admitted this could not last forever and therefore it
would be more cautious in sectors such as retail and
construction.
Davies said: “We don’t want a big hit at this stage of our
development. We are looking more carefully at the potential domino
effects for our borrowers.”
