The Finance & Leasing Association (FLA) recently announced that in September of 2014, demand for asset finance packages grew by 31% in the UK.
This is the strongest monthly rate of growth for the year so far.
There was an increased demand for company car, commercial vehicle, plant and machinery, IT equipment, and business equipment asset financing. The only area where demand dropped was in the aircraft, ships and rolling stock sector. For that market, demand dropped by 25%.
Year-on-year demand for plant and machinery financing was up by 22%. For the equipment finance sector, demand was up by 53%. The IT equipment market also saw an increase in demand of 15%, year on year.
All areas of vehicle financing saw strong growth, with demand for commercial vehicle financing up by 16%, while new business car financing demand was up by 29%.
The Head of Research and Chief Economist for the FLA, Geraldine Kilkelly, said:
“These figures clearly show that the asset finance industry, through the provision of leasing and hire purchase, is helping UK businesses to invest and grow.”
Borrowing against assets or leasing equipment also helps to solve business cash flow problems. At DJB, we offer a range of asset leasing and financing packages, which all kinds of companies can use to secure the money that they need to run their operations and expand. To find out more, please ring us or send an email, and we will be happy to explain how asset financing could help your business.
Witten by Mark on