Woolwich dropped from Optoma panel

Optoma has announced that it will no longer include Woolwich on its lending panel.

Woolwich has been a prime lender with Optoma for a number of years, but the number of applications with Woolwich has reduced significantly over the last 12 months.

Optoma now has 15 leading lenders on its panel including new arrival, Swift.

David Levey, finance director of Optoma, says: We are currently undergoing a review of our lending panel and believe that with the ever improving technology based solutions in the prime sector it will become even harder for packagers to add any additional value to this sector.

This has led to our decision as we do not feel we can generate the volume of Woolwich business needed to justify the resources required to keep Woolwich as a full member of our panel.