The Small Business Finance Directory, run by the National Association of Commercial Finance Brokers (NACFB), channelled £6.5m (7.6m) of leasing deals to UK brokers in its first month, according to NACFB chief executive Adam Tyler.
The Directory, which is yet to be officially launched, is an online portal through which SME members of the Federation of Small Businesses (FSB) can locate suitable local commercial finance brokers.
Tyler said the average value per deal of in July was just under £150,000 and was mainly used by established SMEs to fund organic growth, with computers, agricultural equipment and machine tools the most popular assets.
The NACFB has also used information from the Directory and its own annual survey to examine the geographical spread of finance, with the average Welsh SME owing more than its bank balance, while the average central London business is in credit.
Tyler said the NACFB’s anecdotal evidence suggests business growth is being stifled by unwillingness or inability to invest, but that the NACFB is aiming to "bolster confidence" by finding and filling funding gaps across the country.
Adam Tyler writes on how the NACFB members are helping businesses across the UK in the September issue of Leasing Life