The latest statistics from the Finance & Leasing Association (FLA) showed that more UK firms are turning to asset finance brokers than ever before.
The demand for asset financing was up by 13% in January when compared to the same period in 2014. There was positive growth for several sectors, particularly equipment financing. Meanwhile, demand for IT equipment finance was up by 49%, with plant and machinery rising by 12%. The biggest uplift was in the aircraft, ships and rolling stock sector, where demand was up by 461%.
Geraldine Kilkelly, the chief economist and head of research for the FLA, had this to say about the figures:
“The asset finance market has made a good start to 2015, with growth continuing across key asset sectors. The percentage of UK investment in machinery, equipment and purchased software financed by FLA members increased from 26.2% in 2013 to 27.2% in 2014, reaching its highest level since 2011.”
During January 2015, FLA members arranged £19.1m of finance for British companies. Taking the high value lending for planes, ships and rolling stock out of the equation, the total amount lent was still £18.8m.
Asset financing is becoming an increasingly important way for UK firms to finance growth. If you would like to find out more about using asset financing to grow your business, speak to us at DJB. Every year we help many companies to secure the finance that they need using a range of lending and payment solutions.
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