Turners Ltd and Dunedin's Motor Trade Finance have signed an exclusive partnership which means Turners has added another finance source to its current network of loan providers. Turners would provide a non-recourse lending product to MTF's network of franchisees numbering about 250. Craigs estimated Turners was about 10% of MTF's loan volume, as well as being an 8% shareholder in the dealer co-operative. ''The step change opportunity for both parties has been for Turners' Dorchester assets to provide MTF with a non-recourse lending product to extend to MTF's dealer network.'' MTF chief executive Glen Todd said that for the first time, MTF would have access to a non-recourse product through the Dunedin company's lending platform.

Source: Otago Daily Times November 16, 2016 17:05 UTC