It’s almost six months since we launched our commercial finance partnership, Ideal4Finance Commercial, with Hexa Finance. To find out how it’s been going, we arranged for our CEO Noel Corcoran and Hexa Co-Founder Ben Davies, to get together over a brew and share their thoughts.
Ben Davies: You’ve always been very closely engaged with consumer finance and have a great track record in that sector of financial services, so how has it been for you to get more involved with commercial finance?
Noel Corcoran: I think the most rewarding aspect has been seeing our commercial team relishing the opportunity to take our business lending work up to the next level. As a business overall, our focus has certainly been on the consumer finance side, so it was great to watch the commercial team embrace the changes that came with the new partnership. They’ve enjoyed accelerating their lead generation activity, knowing there is an expert team on hand to support them.
BD: Exactly. When we launched, we said that the partnership would play to the strengths of the two parties involved and that has certainly been the case. IdeaL4Finance already operates across a wide range of sectors, so your team are building a very diverse pipeline. We’ve already completed loans for clients operating in civil engineering, farming, catering, hospitality services and a whole host of home improvements businesses.
NC: That’s right and another thing we said when we launched was that we wanted to make it easier for people to enquire about commercial finance, and I think we’ve achieved that. Our relationship managers, who look after our existing consumer finance clients, are now having conversations with them about commercial finance too. And, thanks to the regular updates and training provided by Hexa they’re equipped with all the latest product knowledge.
BD: Yes, we started our Hexacademy to make sure that we and our partners have the expert knowledge and skills to offer the best possible service. The finance industry evolves constantly with new products becoming available all the time. We recently held a lender-led masterclass on a new kind of business lending, and it was great to welcome members of your team to the session.
NC: They know how important it is to keep up with the latest developments and when they see deals being completed, it really fires their enthusiasm. There was quite a lot of excitement about the loan for 50 rare breed heifers – we’d never financed cows before!
BD: Yep, from cows to coffee machines, plant machinery to new vehicles, we’ve covered the whole range in our first six months. All the signs are that we are making it easier for B2B suppliers to increase their sales and for all businesses to access the commercial finance they need to grow.
NC: Here’s to the next six months!
To enquire about commercial finance for your business, get in touch with us here.
Click here to find out more about Ideal4Finance
Click here to read one of our commercial finance case studies