NatWest’s asset finance arm Lombard has launched a new digital service that allows businesses to receive instant agreement to fund assets such as cars, vans, machinery and technology; up to a maximum of £250,000.

The new function, available through Lombard’s website, lets customers create a personalised quote across any one of 40 asset classes, with an instant decision provided at the end of a quick and simple application process.

The lender will offer the new service for assets including cars, vans, commercial vehicles, agricultural equipment and construction machinery; through to more specialist requirements including technology assets.

The feature is thought to be the first of its kind in the asset finance market. Where other providers give indicative quotes, Lombard can now provide a personalised quote and an instant credit decision.

Businesses can use any device to access the new service and Lombard will supplement the new option with webchat and telephone support provided by relationship managers in Lombard Business Direct.

Craig Leyland, head of asset finance product and propositions at Lombard, said: "This is a great example of how we are accelerating our digital agenda to make it easier for our customers do business with us in a safe and secure way."

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