Record levels of small business lending in the UK

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Record levels of small business lending in the UK (image credit: iStock)

New figures published by the National Association of Commercial Finance Brokers (NACFB) have highlighted a record level of lending to small businesses across the UK in the last 12 months.

Small to medium-sized enterprises (SMEs) remain the lifeblood of the UK economy and the NACFB's data shows that lending to this group now stands at an all-time high.

Traditional long-term commercial property lending has risen across the board and has seen a 54.8 per cent upturn in the last year. Meanwhile, invoice finance and equipment finance lending have demonstrated respective growth of 22.8 and 10.5 per cent during the same period.

Overall, the organisation paints a picture of growing confidence in business lending, with the 12 months to the end of June this year recording stronger SME lending than in the pre-recession high of 2007.

It also marks a seventh consecutive year in which lending to UK SMEs has increased.

Responding to the results, NACFB chief executive Adam Tyler commented: "It's been a phenomenal and record breaking year across the commercial finance sector. With the UK's SME community showing a real appetite for growth, despite the uncertainty of Brexit, we have seen small business lending at levels above even those registered before the financial crash.

"There has never been a better time for businesses to secure finance, as the commercial finance sector continues to innovate and diversify. The challenge is to make sure the message reaches SMEs that there are many routes to funding."