News Article

Hitachi Capital Launches Loan Fund for Sole Trader Market

In response to the Bank of England’s reports on the failure of some of its participating banks and building societies to increase loans to small businesses under the Funding for Lending Scheme, Hitachi Capital has announced the launch of a multi-million pound loan fund, available exclusively to support the UK’s sole trader market.

UK finance specialist Hitachi Capital’s expansion into asset-based loans will fill a real need, with the figures showing that lending to the small business and sole trader sector actually shrunk by £2.4bn in the final quarter of 2012. The new fund, initially £25million, will provide asset loans from £2.5k to £15k for the UK's 3 million sole traders, including plumbers, builders and other small traders such as independent cafes and bars to purchase equipment, vehicles and tools.

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