Investor hopes to Energize Luv Car Loans

INVESTOR and corporate financier Jeremy Carr has taken a stake in a car loan brokerage business.

As part of the deal. Carr the founder of Energize Capital,  has also joined the board of Warrington-based Luv Cars, which sells through car dealerships and increasingly through its website.

Luv Cars was founded in December 2013 by Steve Coulthard and Danny Hill with the support of entrepreneur Steve Hibbert.  It provides a rapid response to consumers needing a car loan, and achieved a six figure profit in its first year.

The business, which has around a dozen staff, has now changed its name to Luv Financial Solutions Limited to reflect the wider business loans it will be offering and Carr joins the board to help the business achieve its growth ambitions.

Carr said: “I am very excited to be joining a young dynamic local company with such a highly driven management team who are keen to take advantage of Steve Hibbert’s and my own experience to grow their business. I am very impressed that the business has exceeded every target it has set itself to date. It has excellent potential to expand into new, but related areas such as motorcycle finance.”

Managing director Steve Coulthard said: “We are delighted to welcome Jeremy on to our board. Motor finance is in high demand as the recovery continues and Luv Financial Services is able to offer a strong range of funding options for both customers and motor dealers.”

Chairman Steve Hibbert backed Luv Financial Solutions having had 27 years’ success with Danka plc, Toshiba and Danwood. He has also advised and undertaken several non-executive assignments in the private equity industry.

Hibbert said: “When Steve Coulthard and Danny Hill presented the business plan to me two years ago, I backed it immediately as the passion, flair and determination to succeed was evident in the very first meeting, and their attention to detail and compliance procedures are first class.

“For me investment is simple, I back good people with a solid business plan, and the guys have exceeded their targets and this has attracted a key addition to the main board in Jeremy. We are looking forward to benefitting from the financial experience and connections that Jeremy will bring to the business.”