New Finance & Leasing Association (FLA) figures show that demand for asset finance products are up year on year once again.
During June 2015, FLA members provided 20% more finance via asset financing than they did during June 2014. These deals involved amounts of up to £20m.
New business totalled £27.1bn across the previous 12 months, which is higher than the pre-crisis level of £26.7bn, suggesting that UK firms once again have the confidence to borrow and invest in their businesses.
Commenting on the results, Geraldine Kilkelly, who is the Head of Research and Chief Economist for the FLA, said:
“The economy’s return to above-trend growth in the second quarter of 2015 suggests that the recovery in business investment is likely to continue and that we will see further growth in leasing and hire purchase in the second half of 2015.”
The strongest growth came from the IT equipment sector, from which demand grew by 32% when compared with June 2015.
Demand was also very strong for plant and machinery financing, which grew by 11%. For commercial transport, demand was up by 30%.
UK firms are increasingly turning to alternative forms of finance because many traditional financial institutions are still not lending freely to businesses. At DJB, we provide a range of alternative finance products, which you can use to get the cash you need to expand your business and take advantage of new opportunities. We can arrange finance for most firms and do so quickly, so why not get in contact with us today?