MotoNovo Finance has announced that it is lifting the lending restrictions that have been in place during the lock-down period with immediate effect. It is a move designed to help dealers to re-start their businesses as we head towards a phased lifting of the current lock-down requirements and move to a new social-distancing retailing model.

Commenting on the decision, MotoNovo CEO Mark Standish notes: “At yesterday’s daily Coronavirus briefing Robert Jenrick, Secretary of State for Housing, Communities and Local Government stated that it is government's "mission to ensure everything we can do is done to help people go back to work safely and to reunite friends".

“In the same way that we have and will continue to support steps to tackle COVID-19, we must all recognise that we have to find ways to re-start the economy. Peoples livelihoods, mental well-being and health for those unable to seek treatments during the lock-down must be factored into the need to establish a new operating normality. The continuing need for social distancing means that access to a car will be crucial for many. For this reason, we have mobilised our resources. We are ready to help dealers to adapt to the critical social distancing needs and the essential need for many consumers to access finance safely and with confidence.”

As well as re-starting all lending activities, MotoNovo is rolling out a package of support tools to guide dealers on how to manage their business in the new climate. These include social distancing and distance selling guides. Since finance has such a key role to play in helping dealers and customer to come together, MotoNovo is committed to highlighting the availability of as a tool that not only promotes dealers’ stock but as a way of enabling customers to access dealer finance safely from their homes to minimise social contact.

Mark closes by reflecting; “We cannot underestimate the importance of the economy on people’s lives. This morning the Bank of England has warned that the coronavirus pandemic will push the UK economy towards its deepest recession on record. We have a duty of care to one another both to support COVID-19 safety and to ensure we re-start the economy. Together with dealers, we are committed to doing our utmost to rebuild confidence and reassurance to the public at large and it starts now.”

Press release issued by MotoNovo Finance, May 2020

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