4th Dimension Innovation expands green parts operation with 50% increase in Secure Trust Bank facility
4th Dimension Innovation (4D), the market-leading specialist in motorcycle claims administration, has secured a 50% increase to its asset-based lending (ABL) facility from Secure Trust Bank Business Finance (STB BF), supporting the business’s ongoing expansion of its green parts operation.
Founded in 2003 by Neil Foster, the business is a trusted partner for motorcycle insurers and brokers, delivering exceptional claims administration, fraud prevention and customer service. Its wider group includes MotoMine, which specialises in the sale of green parts and salvage bikes, alongside Bike Assist Legal and Farnham Honda, one of Europe’s largest Honda motorbike dealerships.
As 4D looked to expand the range of services it could provide to its partners, it first worked with the team at STB BF in 2022 who supported its expansion, particularly of Bike Assist Legal to ensure that injured riders had access to the legal representation they deserved. This latest 50% facility uplift will fund the expansion of 4D’s green parts operation, including investment in new premises to bring its entire operations under one roof.
The consolidation will significantly enhance the business’s capacity to recycle parts from unrepairable motorcycles via its MotoMine brand. Recycled ‘green parts’ are used within its own repair network or resold, helping to extend the life of usable components and divert as much material as possible away from landfill. Additionally green parts reduce repair costs for insurers and support lower premium costs for policyholders
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.”
Richard Foote at Secure Trust Bank Business Finance, added: “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.”