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Navman Wireless Vice President Disputes Credit Crunch Claims
Recent claims that it is impossible for small businesses to get leasing finance for fleet tracking equipment are untrue, claims Navman Wireless.
It says fleet managers are being told that they cannot get lease finance because of the lenders’ new attitude to risk surrounding smaller businesses.
“The lenders’ decision will often be due far more to the lack of confidence that the bank has with the tracking supplier, than to the customer’s credit score,” explained Tony Neill, executive vice president at Navman Wireless.
“We are not denying that all financial institutions are tightening their belts and scrutinising risk much more closely, but our records show over 90% of our customers are still being accepted by the leasing companies.”