Blue Motor Finance (Blue) has successfully closed a new warehouse facility with senior funding from Citi to support the growth of its SME lending business to its auto dealer network. This is the first SME lending warehouse facility that Blue has added to its funding platform. It further diversifies the range of funding solutions Blue has accessed. This success strengthens Blue’s financial position as it continues to grow.
The transaction highlights Blue’s continuing commitment to developing its funding platform through furthering longer term relationships with financing partners. This warehouse facility will allow Blue to continue to further enhance its support for auto dealers across its network and grow lending for used cars. Blue’s relationship focused funding approach has enabled it to lend in excess of £1.8bn in loans, supporting over 210,000 customers, and is underpinned by long term consistency and prudency in managing credit risk and delivery of diversified loan portfolios with relatively low average loan sizes, short term lengths, good security and predictable low default rates.