10 January 2023–The Bicycle Association (BA) today announces a new consumer finance partnership with Novuna Consumer Finance, one of the U.K.’s leading retail point of sale finance providers. The partnership gives all BA members, and the more than 1000 UK cycling retailers who are part of its ‘Investors in Cycling’ scheme, access to highly competitive, affordable financing. The appointment of Novuna follows an extensive procurement exercise undertaken by the Association seeking to improve consumer finance options for UK cycling retailers. The Bicycle Association is a non-profit organisation so all of the savings from its collectively procured offer are passed directly on to cycling retailers and consumers
This partnership comes at a time when U.K. households are struggling with the cost of living in the face of a global energy crisis. Novuna, by offering affordable and fair finance options, will enable more people to comfortably afford a bicycle with credit packages that are also favourable for cycling retailers.
Stephen Holt, Retail Trade Manager at The Bicycle Association, said: “We are delighted to have negotiated this highly competitive deal for cycling retailers, with such a trusted and capable organisation. This offers a great opportunity for BA members and our Investors in the Cycling community and will also help towards our shared mission of putting more people on bikes and growing the industry.”
Brian Flesk, Head of Retail at Novuna Consumer Finance added: “I’m really pleased to launch our partnership with the Bicycle Association and be in a position where we can provide thousands of cycling retailers and their customers, access to affordable point of sale finance, at a time when they need it most.”