Secure Trust Bank increases 4D ABL facility by 50% to support expansion

Secure Trust Bank Business Finance (STB BF) has increased its asset-based lending (ABL) facility to 4th Dimension Innovation (4D) by 50%, supporting the motorcycle claims specialist’s expansion of its recycled parts operation.

The additional funding will enable 4D to invest in new premises, bringing its operations together under one roof and increasing its capacity to recycle and reuse components from motorcycles deemed beyond economical repair.

Founded in 2003 by Neil Foster, 4D provides motorcycle claims administration, fraud prevention and customer services to insurers and brokers.

The wider group includes MotoMine, which specialises in recycled motorcycle parts and salvage bikes, alongside Bike Assist Legal and Farnham Honda, one of Europe’s largest Honda motorcycle dealerships.

Secure Trust Bank first partnered with 4D in 2022, providing funding to support the group’s expansion, including the development of Bike Assist Legal.

The latest increase in its ABL facility will primarily support the growth of MotoMine’s green parts operation, enabling the business to recover more usable components from motorcycles that cannot be repaired.

These recycled parts can be used within 4D’s repair network or resold, extending the lifespan of motorcycle components and reducing the volume of material sent to landfill.

The business also expects the expanded operation to help lower repair costs for insurers, with potential benefits for policyholders through reduced insurance premiums.

Matt Oldfield at 4th Dimension Innovation said: “Since partnering with Secure Trust Bank in 2022, their team has taken the time to truly understand us and support our growth ambitions. Increasing our facility provides us with the financial headroom and clarity needed to deliver our next strategic phase.

“Bringing all of our operations together under one roof will improve operational efficiency across our services, while allowing us to significantly expand our green parts operations bringing value to our insurer clients as well as their policyholders.”

“Neil, Matt and the team at 4th Dimension have built a strong and differentiated position in the motorcycle market, and having worked with them for a number of years it’s great to be continuing this relationship and providing the capital needed to fuel further growth.

“The increased facility will provide the funding flexibility needed to invest in its operations, while its plans to expand the reuse of motorcycle parts demonstrate a clear commitment to building a more sustainable business. We look forward to continuing our partnership and supporting the team as these plans take shape.”