Business finance within the UK is coming from a wide range of sources, according to a report from the National Association of Commercial Finance Brokers (NACFB).
Asset finance brokers have seen growth in new lending models, with crowdfunding and peer-to-peer activity being on the up. Statistics from NACFB have also indicated that asset finance, available from DJB, has fared well during the same time period.
Adam Tyler, the chief executive for the NACFB, has said:
“The market continues to diversify at an incredible rate and we continue to attract high numbers of new and established lenders who see our brokers as the best and busiest in the industry. This survey data, and the written and verbal feedback we have been getting from our 1500-strong membership, certainly backs up that perception.”
Different arms of the industry have been contributing to the growth of the sector in the UK. Tyler has stressed the growing contributions of invoice finance and vehicle finance.
During 2015, vehicle finance has moved above the £1bn mark, setting a British record in the process. Invoice finance has not attained the same level as vehicle finance, but it has achieved its own record performance this year.
Confidence within the sector on a European scale has been reported to be healthy, and the economic dilemmas in China do not appear to have had a big impact on expectations with regard to the potential for bad debt. Further, the most common thinking is that profits in the sector are likely to see a degree of growth.