NACFB figures: Lending to SMEs increases

New figures from the National Association of Commercial Finance Brokers show that lending to SMEs has continued to increase.

The annual survey of NACFB members found that commercial mortgages rose by 26%, and asset finance increased 100%. Asset finance brokers in particular have seen an increase in activity and lenders. These figures are consistent with growth in NACFB membership within this division during the past 12 months. There has also been growth in short-term lending of more than 40%.

Adam Tyler, chief executive of the NACFB, said: “The increases in invoice finance we had for four consecutive years have now flattened out, and in fact there was a modest decrease.

“Despite many lenders’ protestations 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.

Adam concluded: “About 90% of small businesses bank with the four main high street banks; when it comes to borrowing, SMEs with our guidance are now reaching out to a wider variety of lenders.”