Car News 24 Feb 2016

Oracle Finance Praised In The House Of Commons Debate

A Yorkshire vehicle finance company has been singled out for praise in a House of Commons debate.

Oracle Finance – the UK’s number one funder of prestige vehicles – was cited as an example of a company experiencing rapid expansion and a strong performance, both throughout and emerging from the recession, by Conservative MP, Andrew Jones.

Mr Jones – whose constituency, Harrogate and Knaresborough includes the company’s head office – again championed Oracle Finance for its admirable business acumen, having written to the company previously to express his support following a run of new job creations in the area.

Oracle Finance was founded in 2006 by Peter Brook and Andy King and has grown significantly in recent years. It now employs a work force of nearly 40 and has in excess of 40,000 clients on its books. 

Annually, Oracle Finance underwrites some £250 million of funding for supercars, which has seen the company secure its place as the country’s leading provider of finance to the luxury car market.

Oracle Finance Managing Director Peter Brook said: “We are very proud to have been singled out for praise by Mr Jones in the House of Commons, which is a rare honour.

We understand that our mention in Parliament came as part of a question put to the Department of Business, Innovation and Skills, about what more could be done to support businesses, who like us, are undergoing rapid expansion.

Expansions like these do throw up a number of challenges for any business and enhanced support would allow us, and others, to continue creating jobs and boosting our local economies.

Mr Brook added: “We had a fantastic 2013 with new records set in both Q2 and Q3, and a 20 per cent rise in new business, and last November we increased our sales force by almost 50 per cent.

We are really feeling an upsurge in confidence with feedback from our clients, which is so much more positive than the last few years.

Our expanded team will help us take advantage of the growing luxury car and supercar markets, and ensure our level of customer service to both existing and prospective clients remains in line with our current high standards.