In a surprising statement its been confirmed this morning that one of Great Britain’s larger asset finance providers, ING Lease, will stop all new lending and will not take any new business after the end of November 2012.
ING Lease are known to have written over £1bn of new leasing business each year. This will represent a massive blow to UK businesses as effectively another billion pound of business credit has been removed from the business lending landscape.
If you would like to read more on this article click here and you will be taken to Leasing Life the trade journal for the leasing industry.
This is of course going to effect many businesses in 2013 and beyond so if you are worried in about how your business funding strategy is going to work please do not hesitate in making contact with one of our professional advisors.
Six other ING Lease businesses are currently in run-off: Italy, Spain, France, Germany, Hungary and Russia.