The National Association of Commercial Finance Brokers (NACFB) has published the results of its annual broker survey.
It shows this year’s lending total is almost double the £7bn that NACFB lenders facilitated during the height of the financial crisis in 2009. It represents a continuation of the 16% year-on-year growth the association reported 12 months ago and marks a 20% increase in lending to UK small businesses over the last year via its independent broker members – the largest increase in business completed by NACFB brokers in one year since pre-recession times.
Adam Tyler, chief executive of NACFB, said: “If you were a small business seeking finance to expand and grow back in 2009, it was incredibly difficult to find a lender that would say yes. Fast-forward to 2014 and it’s a different picture. There are now more than 100 SME lenders operating in the UK, and the market is diversifying at an incredible rate.
“Availability of funds is no longer the issue, but there are still significant barriers facing SMEs who are looking for finance. Small businesses don’t have to rely on their high street bank for credit, but few are aware of the full range of alternatives out there – or that an independent broker will be able to match them with the best lender for their needs.
“These are the figures that show brokers are doing exactly that.”