Cheshire-headquartered UK funder LDF has launched an online asset finance site targeting instant responses for leasing and hire purchase for SMEs.

The funder says the site, called ‘lendinghive’, is the first site of its kind specifically focused at leasing equipment finance, where SMEs can enter information on the site and receive a response and quote in real time.

LDF said FinTech demand is increasing in the financial industry and that its offering brings the technology to a wider business audience. A spokesman for the business said lendinghive was also available on Android and IoS mobile devices via a web browser.

"We believe that lendinghive will prove to be a significant development in asset funding for SMEs in this country and change the way they approach growing their business, giving them the convenient, rapid access to asset finance normally only enjoyed by larger companies," says Peter Alderson, managing director of LDF.

"The present asset finance process is complicated and long-winded with multiple customer touch points. SMEs are a key driver for our economy but they are often let down by traditional funding channels – lendinghive will address this.

"Very often, owners of smaller SMEs are heavily involved in the day-to-day running of the business and are under tight time constraints making it difficult to address finance issues during normal business hours. lendinghive gives business owners the option to apply for funding wherever they are, whenever they want and can expect a decision in minutes."

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By GlobalData

In April’s magazine you can read more about the fintech push that is moving asset finance online.