Guido Kersten is a risk manager and has been involved with YesQar, the innovative financing tool for car dealers in the Netherlands, since its foundation. Their combination of IT, smart data and financing tools supports companies and entrepreneurs through the transition of the automotive sector that is inevitably coming.
Specialised financing for a capital-intensive sector
Guido Kersten is responsible for risk management at YesQar. This means that he co-writes the policy, assesses and sets up financing, but also interacts with NIBC, the bank that owns YesQar, for business.
“There are seven of us now at YesQar, where we link QarQuest's technology to inventory financing through NIBC. We focus on smaller and universal dealer companies and on medium-sized lease companies. So not on the large brand dealers and lease companies, which are financed from the large banks.”
“Even if Graydon may be more expensive, it’s worth paying for, because I don’t want to miss any negative information. Any price difference is easily recouped by the losses I avoid.”
“Because we make smart use of the QarQuest data on prices and competition, we can provide higher levels of finance without additional risk. And that is necessary in this capital-intensive sector. If you want 100 cars in your showroom, you don't even need such a large dealership, but you need about € 2,000,000 to € 4,000,000 to purchase all the cars. And you only earn something if the car has actually been sold. Lease companies have an even more difficult time, because they have to finance their fleet for an average of 3 to 4 years.
“It is logical that banks keep their hands off those risks. But thanks to our expertise and the analysis of the available data, we can distinguish between the good and the not-so-good companies. And therefore, take calculated risks."
Higher financing with limited risk
YesQar's customers come not only for the higher levels of funding, but also for the portals, self-service and guidance in a changing market.
“The reason why we founded YesQar is precisely this changing automotive market. The focus shifts in an instant. For example, because of COVID-19 we see a delay in the area of shared cars and lease cars. In general, there are accelerations in electric transport or even hydrogen and solar energy. As a small company, we can move with the market and advise our entrepreneurs throughout that transition. We want to be a real partner. More than just a bank.”
“The creditworthiness of our entrepreneurs is not the most important thing. However, the quality and value of their stock. That is the collateral with which we cover our own position. We keep a close eye on that stock: check license plates, monthly audits, etc.”
“Thanks to Graydon's extensive information, we don't have to put energy into a company that is on the brink of bankruptcy. In combination with our own inventory overview, we maintain an efficient view of our customer base. That is also the reason why we can finance more than a traditional bank.”
Reports from Graydon are an incentive for customer loyalty
Guido is satisfied that he does not always have to bother (potential) customers about their application details, but can contact Graydon directly. After all, unburdening customers is a special focus of the YesQar team.
"It is not only the services, but also the people that make Graydon a valuable partner."
“Graydon's information is reliable and comprehensive. If that information were already more expensive than the competition, I can easily recover the cost if I do not receive a negative signal. In addition, our investor really likes our monthly reports, supplemented with the data from Graydon.”
“What is really nice are the proactive notifications I get when something changes at our customers. That gives our account managers a reason to stop by or make a phone call. In this way we stay close to our customers, without having to do anything ourselves.”
“In addition, I have always just had a nice relationship with Graydon. It is not only the services, but also the people that make Graydon a valuable partner.”
YesQar in brief
YOUNG COMPANY that has been financing car dealerships and lease companies in the Netherlands since September 2020.
LINKS smart use of IT and data to a sector-specific financing tool to create a new kind of bank.
YESQAR can offer higher financing and provide insight into business operations, and is therefore unique in the Dutch car market.
BENEFITS: Higher funding for capital-intensive industry, small and agile business in a changing industry.
WEBSITE: https://yesqar.nl/
