Financial services provider Fiducia Group has timed its asset finance division launch with the cashflow crisis facing SMEs as the coronavirus outbreak hits the UK.

The group, which was founded in 2001, said the division will look to arrange to fund SMEs asset finance as the sector returns to health on the back of the government’s cashflow support for small businesses.

Fiducia Asset Finance – a division of Fiducia Commercial Solutions – will provide financing with a turnaround time of three days, the company said.

The division will be headed up by Andrew Craggs and provide cashflow finance, asset finance, invoice finance and stock purchase financing.

Fiducia Asset Finance said it will offer a fixed, fully-disclosed broker fee.

Marcus Grimshaw, chief executive of Fiducia Group, said: “We are going to challenge the way the asset finance sector does business.

“For too long, clients have been kept in the dark about the costs and fees they are paying.

“We will give businesses fast access to a wide range of funding solutions and we will be completely transparent about our charges and any other fees.”