UK Asset Based Lending Hits £14.9 Billion

Figures released today by the Asset Based Finance Association show that 48,172 businesses made use of asset based lending during the first half of 2007.  In total asset based finance now accounts for £14.9 billion of business lending.

Most likely to have increased their asset based borrowing during 2007 (up 56% on the previous year) are businesses with turnover above £10 million which have so far been advanced £6billion.

Lending against the sales ledger continues to be the most preferred method of releasing working capital, but it is advances against other assets that is experiencing the fastest growth rate. Companies are increasingly releasing the capital locked up in plant and machinery to fund growth, with this form of asset based finance increasing by 123 per cent change since 2006.

asset finance | lending | SME |