Lending from members of the National Association of Commercial Finance Brokers (NACFB) to UK small businesses increased by 20% year-on-year to £12.7bn (16.1bn).
This was almost double the £7bn recorded five years ago in 2009 at the height of the credit crunch.
Go deeper with GlobalData
The greatest increase came from arranging vehicle finance which more than doubled from £405,227,092 to £834,771,401.
Leasing and asset finance also recorded strong growth, up 17.8% year-on-year to £2,721,020,575.
Adam Tyler, chief executive of the NACFB, said; "Availability of funds is no longer the issue, but there are still significant barriers facing SMEs who are looking for finance. Small businesses don’t have to rely on their high street bank for credit, but few are aware of the full range of alternatives out there – or that an independent broker will be able to match them with the best lender for their needs."
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
