London, England – 9/21/2017
Asset finance to businesses has shown continuous growth, alongside a 13% increase since the previous year.
The latest statistics show that asset based finance offered to SMEs has shown annual growth of 13% to a whopping £22.2 Billion, increasing from £20.6 billion the preceding year.
This rise can be attributed to UK’s SMEs have increasingly turned towards asset finance, supplementing funds obtained from conventional sources, such as loans and overdrafts, in order to finance growth opportunities and new projects.
In the last quarter of 2016, asset finance grew by 7%, more than £20.6 billion that could be accredited to financial unsteadiness that followed the Brexit vote. This in turn meant SMEs have been turning towards alternative finance chiefly to develop a ‘money cushion’.
According to the CEO of Nucleus Commercial Finance, “Around 80% of asset finance is made of invoice finance and in that firms secure finances against due invoices. This accounts for £17.9 billion of finances provided on the whole to firms in the previous year. The outstanding 20% represent funds that are secured against an array of other assets, which includes machinery, stock and property.”
He further added, “It’s very encouraging to see UK SMEs look to asset finance to drive business development and growth. Instead of having well-earned money tied up in overdue invoices, it’s better to deploy them to sustain growth strategies.”
Nucleus Commercial Finance has a team of specialists who offer flexible and bespoke solutions. They provide prompt response, turn deals quickly and are flexible in the services they offer to best suit clients.
Nucleus provides finance for start-ups as well and the services offered come with fixed upfront fees. They also offer honest and guaranteed services. To know more about them visit, https://nucleuscommercialfinance.com/.
Nucleus Commercial Finance Ltd.
2 Gees Court
+44 (0)207 839 9451