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ACT hails Moneyway efforts to boost trade
Moneyway has been recognised as 'partner of the year' for its efforts in making the Ride It Away scheme successful, by the Association of Cycle Traders.
Tony Jones, ACT's business development officer handed over the award to Moneyway's head of lending, David Nield at this years Cycle Show.
Click here to read the full BikeBiz article
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ACT / ActSmart have appointed Moneyway to be its new retail finance partner, effective 1st February 2010.
Following a thorough review of prospective partners resulting from Black Horses’ decision to exit the market, Moneyway has been selected to offer retail finance services to cycle retailers based on its proven track record, flexibility, vision and excellent support services.
David Nield, Head of Lending at Moneyway commented:
“We are delighted to have been selected by ActSmart and to be working with its retail members. Unlike other retail finance providers our growth focus is in the leisure sector where we help retailers finance their customer’s passion as opposed to their everyday needs. The cycle market therefore is perfect, and sits well with our market leading Music Finance business. We look forward to working with both retailers and suppliers in taking forward this business to new levels and helping our partners increase their sales.”
Over 350 ACT / ActSmart members currently utilise the Black Horse service (which remains active until 26 February) and are being contacted with full details of the new scheme including improved subsidy rates, to switch their retail finance business to Moneyway.
The UK cycle retail finance market is worth c£30million and the ActSmart scheme has been growing at a rate in excess of 30% during the past year.
Mark Brown from ACT / ActSmart added: “The retail finance landscape has changed dramatically as a result of the credit crunch, making it an increasingly low profit high risk business for finance providers. In this context we have put together a highly competitive deal for the industry which gives retailers and their suppliers a platform to grow their business for the long term.”
ActSmart’s partnership with Moneyway will facilitate industry wide participation including a unique new service allowing suppliers to support their dealers with retail finance promotions.
Any retailers not currently with Black Horse who wish to join the retail finance scheme should contact ACT / ActSmart direct.
Further details cick here or call the ACT / ActSmart office on 0845 618 7256.
