Figures from the Bank of England (BoE) show that lending to small businesses rose in September at its fastest annual pace since 2012, suggesting that companies' appetite for debt has not been dampened by the vote to leave the European Union.
Data indicates that credit for SMEs showed signs of picking up in September, rising by £842 million, a 2.1 per cent increase compared with the same month last year, and the fastest pace of growth since the BoE’s records began four years ago.
Mortgage approvals also rose for only the second time since February, suggesting that the housing market may be starting to stabilise, after a brief dip following the Brexit vote.
BM Structured Finance – Specialists in sourcing and restructuring debt finance for SME businesses, enhancing cash flow liquidity and enabling maximum growth
Whether you’re a start up or a well-established business, cash is king and managing its flow is crucial to your long-term success. Whilst the BoE lending figures may be up, traditional funders are still not lending as readily as previously experienced. Alternative methods to source working capital finance to fund start up and growth is therefore becoming increasingly popular.
Our partner business BM Structured Finance has strong relationships with a number of providers and they will work together to tailor the facility to best suit your individual business requirements. Contact Simon Belton of BM Structured Finance to find out more about the various funding options available to you to release cash flow from the assets of your business.