The head of the MG Rover Dealer Council has reportedly come to an agreement with a finance company on initiatives that could ease the cash problems of the carmaker's franchised dealers.

Capital Bank and Richard Cort have been in discussions regarding dealers “battling with thousands of unwanted Rover cars said to have been injected into the network prior to the Longbridge collapse”.

Details are expected to be announced in 10 days’ time.

The MG Rover Taskforce is due to hold its second meeting tomorrow Cort and Capital Bank.