Hitachi Capital Consumer Finance announce record month and predicted £600m funding boost

Hitachi Capital Consumer Finance has given a welcome boost to retailers across the UK by announcing that the company will release a predicted £600m in point of sale finance this year.

Hitachi Capital’s is increasing its support to retailers following the news that the company has had its most successful month in its 27 year history, by providing over £53 million of point of sale finance to its high street customers in just one month*.

Divisional Managing Director of Hitachi Capital Consumer Finance, Gerald Grimes, said: "In the current economic climate, retailers are crying out for extra support to give them a competitive edge.

"With banks cracking down on personal loans and credit cards, and with equity release in homes being affected by the mortgage market, our point of sale finance facility allows retailers to offer their customers a selection of innovative payment options.”

By providing an alternative to the method of finance, we are helping successful businesses secure their future and get one step ahead of their competition."

The global credit crunch has resulted in consumers finding it increasingly difficult to gain access to traditionally low cost credit avenues, such as releasing equity in property or via 0% interest credit card offers. The latest figures from the Finance Leasing Association (FLA) illustrates consumers are increasingly turning to in-store credit options, which were up by 24% (to £230 million) in March.

Hitachi Capital is one of the UK’s longest established finance providers and offers a comprehensive range of finance products for national and independent retailers. 

With over 27 years of experience in retail finance, Hitachi Capital Consumer Finance now has links with over 1,200 retailers across the UK and places great emphasis on the proactive and profitable support to help retailers increase sales in these difficult times.

For more information contact: Daniel Hobson Hitachi Capital (UK) PLC t: 0113 380 1030 m: 07917 264079 e: daniel.hobson@hitachicapital.co.uk