Asset Advantage, a finance provider specialising in SMEs, has introduced a new survey aimed at identifying the challenges and opportunities that commercial brokers encounter when securing business funding for their clients.
The survey will explore various topics to understand market demands, lenders’ approach, and the growing preference for business loans as a tool for funding asset acquisition and business growth.
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The launch of the survey follows the company’s recent launch of its online content hub tailored for brokers.
The survey is open to all commercial finance brokers, including Asset Advantage’s network of over 300 professionals.
Participants can also engage with the survey at the upcoming National Association of Commercial Finance Brokers’ Commercial Finance Expo in Birmingham by visiting Asset Advantage’s stand W27.
Asset Advantage’s business loans, offering borrowing capacities up to £1m, cater to a range of needs including business acquisitions and management buy-outs or buy-ins, as well as the purchase of hard and soft assets.
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By GlobalDataIn addition to business loans, Asset Advantage has been offering asset finance solutions, including finance lease and hire purchase, for more than 17 years.
Asset Advantage credit and risk director Philip Knight said: “There is no question that demand for funding among SMEs has only increased in recent years. At the same time, the reasons and requirements for funding have continued to broaden too, whether it is for investment, expansion or acquisition.
“Through the insights and experiences of commercial brokers, we will be able to take closer look at the current landscape of the market, its challenges and its opportunities. We will also be able to map out the continued growth of business loans and their use beyond pure business acquisition.
“This is something we are certainly seeing at Asset Advantage, although we do hear anecdotally of the difficulties some brokers face in securing this type of funding for certain cases and from other lenders. By exploring this topic in the survey, we can continue to provide brokers with real value to inform their decision making.”
SMEs have seen a 15% increase in lending from UK high street banks in the first quarter of 2024, according to UK Finance.
