Business finance levels to small and medium-sized businesses has risen for the third consecutive year to a total of ?8.9bn, says the National Association of Commercial Finance Brokers.
The survey revealed that there has been an increase of 100 per cent in equipment and asset finance, funded by NACFB brokers, a further increase in lending for commercial property and another increase for lending in the short term ? around a 41 per cent rise this time.
NACFB Chief Executive, Adam Tyler, told Bridging and Commercial:
?We have continued to see the SME community struggling to raise funding whilst being faced with increased costs. Our latest figures reveal the true position of both excellent and vulnerable businesses across the whole of the UK.
?Despite many lenders? protestation that they are lending more than ever, these figures reveal what anecdotal evidence has already shown: that funding for businesses is still hard to access, but it has improved, if you know where to look. The NACFB has 83 different commercial lenders that are part of its 1,000-member organisation.?
Commercial mortgages increased by more than 26 per cent with asset finance increasing by 100 per cent. In particular, asset finance brokers have observed increased activity and these numbers are on track with growth of the membership of the Association, in this division, in the last 12 months. Business finance lending in the short term has increased by more than 40 per cent.
This news is welcome despite confidence from small businesses in Funding for Lending and the National Loan Guarantee Scheme, and the increase in refusal of loan applications.
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Source: http://www.psfinance.co.uk/sme-finance-increases-to-almost-9bn-1204.html
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