Leasing and asset finance business volumes for
the last 12 months doubled year-on-year for members of the National
Association of Commercial Finance Brokers (NACFB), contributing to
an overall rise in lending for the UK trade body.
Data from the annual survey of the NACFB’s
members shows leasing and asset finance business levels grew from
£1.03bn (€1.28bn) in the 12 months to September 2011 to £2.06bn in
the following 12 months.
Growth in this sector was influenced by an
increase in membership with 10 asset finance brokers joining the
organisation in the last year and 49 new brokers overall becoming
members although the NACFB told Leasing Life the business
volume increase was also the result of a rise in asset finance
Vehicle finance dropped 25% from £306m to
£229m over the same period, and invoice finance fell by 2.5% from
£951m to £927m. Overall lending by NACFB members increased by 4% to
just under £9bn, marking a third consecutive year of growth.
Adam Tyler, chief executive of the NACFB, said
he was pleased to report an increase in lending from members, which
also includes commercial mortgage and bridging loan firms, and said
the finance was coming from a wider variety of lenders.
“Our asset finance brokers in particular have
seen an increase in activity and lenders and these figures are in
line with a growth in our membership of this division over the last
12 months,” he said.
“Around 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
“Our latest figures reveal the true position
of both excellent and vulnerable businesses across the whole of the
UK,” Tyler added.