Small business lending shows '˜appetite for growth'

Small business lending hit an all-time high in the year to 30 June despite Brexit uncertainty, data published today has revealed.
By The Newsroom
Published 13th Sep 2016, 06:57 BST
Updated 15th Sep 2016, 15:58 BST

This article contains affiliate links. We may earn a small commission on items purchased through this article, but that does not affect our editorial judgement.

Lending to small firms hit a record high in the year to June. Picture: ContributedLending to small firms hit a record high in the year to June. Picture: Contributed
Lending to small firms hit a record high in the year to June. Picture: Contributed

The National Association of Commercial Finance Brokers (NACFB) said that according to its latest annual figures, business written by its brokers reached £20.7 billion, a year-on-year jump of 30 per cent.

Traditional long-term commercial property lending was up across the board, with commercial mortgages up 54.8 per cent to exceed £5.3bn.

Read More
A new finance model is emerging from the crowd
Hide Ad
Hide Ad

NAFCB chief executive Adam Tyler said: “It’s been a phenomenal and record-breaking year across the commercial finance sector.”

He said the UK’s SME community is demonstrating “a real appetite for growth” and he also flagged a “significant” switch to traditional forms of lending, with new forms of business finance down by 14.4 per cent. “There has never been a better time for businesses to secure finance,” Tyler added.

Click here to ‘Like’ The Scotsman Business on Facebook

Related topics:BrexitFacebook