The National Association of Commercial Finance Brokers (NACFB) has the published the results of its latest annual survey of its members.
Adam Tyler, chief executive of the NACFB, said: “We have continued to see the SME community struggling to be aware of the funding that is available to them and the impact of our raised profile in the UK SME market is now beginning to have an effect.
“Our latest figures reveal the true position of both excellent and vulnerable businesses across the whole of the UK. It shows that they can source funding if they know where to look, 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.
“These figures reveal what anecdotal evidence has already shown: that funding for businesses is still difficult to access, but we are making it easier, if you know where to look. The NACFB has 93 different commercial lenders that are part of its 1,000 member organisation.”
Tyler added: “I expected to see an increase in written business overall for the fourth year running, but it shows something never seen before, written business by our Asset Finance brokers, who have had a difficult 12 months, exceed that of Commercial Mortgages.
“In addition the increase in Other forms of Commercial Finance including Peer to Peer increased lending is evident to see and takes on more prominence that ever.
“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 lenders. We launched our Small Business Finance Directory this summer and we received over £25 million of enquiries in the first six weeks without a launch. We now have the site developed and it is receiving leads directly from the Small Business community and helping establish the NACFB as the real source of funding for SME UK.”