Santander Bank gives financing muscle to SME contract hire specialist Fleet Financial
SMALL and medium sized business (SME) van operators in Northern Ireland will have better access to van fleet contract hire deals thanks to a new financing deal from Santander Bank.
Santander is providing the fleet finance funding in order for Fleet Financial to add additional contract hire facilities to SMEs in Northern Ireland.
Based in Belfast, Fleet Financial is Northern Ireland’s largest independent, contract hire and fleet management company managing 4000 vehicles.
Philip Miley, sales & marketing director, Fleet Financial, said: “Fleet Financial is Santander’s sole partner in Northern Ireland. This is a strong endorsement for us and we are excited about the opportunities it creates for our new and existing customers alike. This really gives local business a much-needed boost and opens up a new avenue for asset funding.”
Hilary Armstrong, relationship director at Santander’s Corporate Business Centre in Belfast, added: “The fleet market is currently facing significant issues, with some of the larger leasing companies rationalising their operations and capital constraints hindering a number of smaller independent companies. Therefore I believe the timing of our new contract hire partnership with Fleet Financial could not be better.”
In Great Britain, Santander has provided the vehicle asset finance to leasing company Zenith Provecta for the last 12 months. Zenith, also a privately owned leasing company, is rated at 18 in the industry FN50 leasing company league.
“The partnership with Fleet Finance opens up a relationship we didn’t have before in Northern Ireland,” said a Santander spokesperson.
“There is no plan to expand with other providers at the moment,” the spokesperson continued. “We look at individual deals on an individual basis.”
Fleet Finance is listed at number 42 in the FN50 industry league of contract hire companies. In Northern Ireland, Santander Corporate Banking provides a full relationship banking service at its Belfast Corporate Business Centre.
To visit the Fleet Financial site, click here: Fleet Financial.
To visit Santander Corporate Banking, click here: Santander Corporate Banking.