Members of the UK’s National Association of Commercial Finance Brokers (NACFB) wrote £2.3bn (2.7bn) worth of leasing and asset finance business during the 12 months from June 2012, up 12.3% on the previous year.
As a result, leasing and asset finance overtook commercial mortgages, which shrunk 21.25% to £2.1bn, and became the second biggest business line for NACFB members behind buy-to-let mortgages which grew 128% year-on-year.
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Commercial vehicle finance rose 77.3% to £405.2m while invoice finance fell 27.3% to £674.1m.
New types of business finance, which for the first time included peer to peer lending, grew 80.4%, to £500.9m.
Adam Tyler NACFB chief executive, said: "Increases in alternative lending as well as asset finance show an increase in the diversity of funders that are available to our membership, who are arranging an increased level of finance for business for the fourth year running."
Overall business levels for NACFB levels stood at £10.48bn, an increase of 16.71% compared to the previous year.
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By GlobalDataTyler also highlighted the NACFB’s Small Business Finance Directory, which he said has received over £25m of enquiries in its first 6 weeks and led to £6.5m of asset finance business being written in the first month.
