Blue completes extension of corporate facility with Goldman Sachs

Blue Motor Finance (Blue) has completed the extension of its existing corporate facility with Goldman Sachs. Goldman Sachs has partnered with and supported Blue through financing facilities since 2019. This 3 year extension further strengthens Blue’s financial position and supports its growth in originating used car loans from its auto dealer network.
Blue is relationship focused for the longer term with an expanding panel of funders and has shown an ability to extend and deepen such relationships as it has grown. Blue’s funding platform has enabled it to support its customers through lending in excess of £1.5bn in loans to over 150,000 individuals. Our funding approach is underpinned by Blue’s long term consistency and prudency in managing credit risk, delivering diversified loan portfolios with relatively low average loan sizes, short term lengths, good security and predictable low default rates.
Tiku Patel, CEO of Blue Motor Finance commented “2020 has been a crazy year. Consumers have been hard hit by the coronavirus crisis impacting loan affordability. Through this crisis, we are pleased with the way that we have supported customers whilst also carefully managing credit risk and continuing to deliver predictable performance. In particular, we are delighted with the confidence that Goldman Sachs is showing in our partnership and the future growth and potential of Blue.”
Stuart Williams, CFO of Blue Motor Finance commented “This facility extension clearly supports our approach in harnessing technology, data and analytics to build a competitive, growing and profitable business platform for the longer term.”

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