Package to include fair, affordable consumer finance options for cycling industry
The Bicycle Association (BA) today announces a new consumer finance partnership with Novuna Consumer Finance, one of the U.K.’s leading retail point of sale finance providers. The partnership gives all BA members, and the more than 1000 UK cycling retailers who are part of its ‘Investors in Cycling’ scheme, access to highly competitive, affordable financing. The appointment of Novuna follows an extensive procurement exercise undertaken by the Association seeking to improve consumer finance options for UK cycling retailers. The Bicycle Association is a non-profit organisation so all of the savings from its collectively procured offer are passed directly on to cycling retailers and consumers
This partnership comes at a time when U.K. households are struggling with the cost of living in the face of a global energy crisis. Novuna, by offering affordable and fair finance options, will enable more people to comfortably afford a bicycle with credit packages that are also favourable for cycling retailers.
Stephen Holt, Retail Trade Manager at The Bicycle Association, said: “We are delighted to have negotiated this highly competitive deal for cycling retailers, with such a trusted and capable organisation. This offers a great opportunity for BA members and our Investors in the Cycling community and will also help towards our shared mission of putting more people on bikes and growing the industry.”
Brian Flesk, Head of Retail at Novuna Consumer Finance added: “I’m really pleased to launch our partnership with the Bicycle Association and be in a position where we can provide thousands of cycling retailers and their customers, access to affordable point of sale finance, at a time when they need it most.”
Notes for Editors
Contact for Media:
Elizabeth Elford, Communications Director, [email protected]
About the Bicycle Association
The Bicycle Association (BA) is the national trade association for the UK cycle industry. The BA strives always to represent the best interests of the UK cycle industry to government, stakeholders and the general public – with the highest standards of professionalism. The mission of the BA is to grow ‘everyday cycling’ in the UK and remove barriers to cycling for everyone. https://www.bicycleassociation.org.uk
Novuna Consumer Finance, the new name for Hitachi Capital Consumer Finance, is one of the UK’s leading providers of retail point of sale finance and personal loans, lending over £2.3bn to more than a million customers each year.
The business works with 3,500 retailers from high street brand names to niche online ecommerce retailers, providing fast, flexible finance solutions that integrate into all channels. Its loans channel, Novuna Personal Finance, has been voted the UK’s ‘Best Direct Personal Loan Provider’ in the Your Money Awards for seven years running, and the business retains one of the highest customer satisfaction scores in the market.
Novuna Consumer Finance is a trading style of Mitsubishi HC Capital UK PLC, part of Mitsubishi HC Capital Inc., one of the world’s largest and most diversified financial groups, with over £60bn of assets.