Short term lending shows 180pc growth
By Bridging Loan Directory -
According to the National Association of commercial Finance Brokers’ annual survey of its members, Commercial Mortgages rose by just over 6% over the past year while short term lending rose by a massive 180%.
The survey also found:
- Total commercial lending to SMEs via brokers increased by 14% year on year
- But overall lending still remains at 44% of the total at the peak of the market
- Invoice finance increased for the fourth year running and is now double of that in 2007
- Buy-to-let mortgage lending increased by 46% but this follows huge drops in the previous two years.
Chief executive of the NACFB, Adam Tyler, said:
“We have continued to see the SME community struggling to raise funding and being faced with increased costs. Our latest figures reveal the true position of both excellent and vulnerable businesses across the whole of the UK.
“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 very hard to access, but it has improved. Whilst we are very pleased to report that there is an increase in lending over the last twelve months, this is now coming from a wider variety of lenders and is also being lent in a real variety of ways”