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Banking services provider Distribution Finance Capital said momentum had continued into the second quarter of the year, boosting first-half loan origination.
New loan origination has continued at pace, exceeding £295 million during the 6-month period to June 2021, up from £115 million in prior-year period
Progress in converting its pipeline and the on-boarding of new dealers has exceeded expectations, the company said.
During the first 6 months of 2021, the group onboarded more than 80 new dealers and as at 30 June 2021, the group had in excess of 700 dealer relationships with aggregate dealer loan facilities totalling about £465 million, up from £364 million last year.
The re-affirmed the board's expectation to achieve monthly run-rate profitability during Q4 2021.